News Wrap

IN today's News Wrap: Trump administration's trade war claims first Australian victim; Rio Tinto faces $84B shareholder revolt over membership of Minerals Council; and Kalgoorlie mine worker charged with stealing gold.

News Wrap News Wrap News Wrap News Wrap News Wrap

Trump administration's trade war claims first Australian victim

The Australian Financial Review Donald Trump's fast-escalating protectionist trade war has claimed its first Australian scalp with Perth silicon metal exporter Simcoa slammed by a bruising 51% US government tariff that threatens to muddy Canberra's push to be excluded from steep steel and aluminium levies.

As governments around the world led by the European Union, China and Canada ramp up retaliatory threats – including potential tariffs on Harley-Davidsons, bourbon and blue jeans – the Turnbull government admitted it still has no clarity on whether the steel tariffs would hit Australian exporters.

In a warning of how a full-blown global trade war would confound Trump's tweet over the week...

topics

loader