US rejects Australia's critical mineral deal

: Metals
25/03/17

The US last week rejected a deal with Australia offering access to its critical mineral sector in exchange for a metal tariff exemption, in the lead-up to the former implementing a 25pc tax on steel and aluminium imports.

The proposal was not a financial deal, but involved "continued and improved [American] investment in getting access to [Australia's] critical minerals," Australian trade minister Don Farrell said in an interview on 16 March.

The US government rejected the deal and refused to grant tariff exemptions for Australia on 12 March, following high-level discussions between officials from the two countries.

Farrell has indicated that Australia's government is continuing to seek steel and aluminium tariff exemptions for its metal producers. He spoke to US commerce secretary Howard Lutnick on 14 March, and is scheduled to speak to US trade representative Jamieson Greer about the issue on 17 March.

Australian aluminium producers will likely be hurt by the tariffs. US buyers purchased 93,000t of Australian aluminium in 2024, accounting for 10pc of the country's total aluminium exports.

Australia's critical minerals proposal comes as US and Ukrainian officials continue to negotiate a deal over access to Ukraine's rare earth reserves.

By Avinash Govind

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EU prepares CBAM export scheme

25/03/17

EU prepares CBAM export scheme

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EU steel action plan to introduce melt and pour clause

25/03/17

EU steel action plan to introduce melt and pour clause

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DRC’s cobalt ban lifts cobalt, nickel product prices

25/03/17

DRC’s cobalt ban lifts cobalt, nickel product prices

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Argentina’s inflation continues to ease in Feb

25/03/14

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