May 8, 2025 3:34 pm
Full News

Australian Treasurer Jim Chalmers Seeks Tariff Exemption in High-Stakes Talks with U.S. Counterpart

Washington, D.C. – Australian Treasurer Jim Chalmers is set to meet with his U.S. counterpart, Scott Bessent, on Tuesday in Washington, as Canberra seeks an exemption from the 25% tariffs on steel and aluminium imports announced by President Donald Trump last month. The meeting will take place ahead of the second day of an investment summit, where ten of Australia’s top pension funds, controlling A$1.5 trillion ($950.7 billion) in combined assets, will discuss closer economic ties with the U.S.

“Trade and tariffs will be part of the conversation but not the whole conversation,” Chalmers said in a statement regarding his talks with Bessent. “I won’t pre-empt the talks on steel and aluminium, except to say they are ongoing discussions and I don’t expect to conclude them while I’m there.”

Australian Prime Minister Anthony Albanese expressed confidence earlier this month that a deal could be reached with Trump, citing the “tremendous start” to Australia’s relationship with the new U.S. administration. Australia, a key U.S. security ally in the Indo-Pacific, is a small global exporter of steel but the world’s largest supplier of iron ore, the main raw material for steelmaking.

During his first term, Trump exempted Australia from U.S. tariffs on steel and aluminium. Australia has emphasized its position as one of the U.S.’s top 10 foreign investors, largely due to its institutional pensions sector, known as superannuation or super funds.

Chalmers and Bessent will both address the superannuation summit at the Australian embassy in Washington on Tuesday, which will be attended by the country’s largest pension funds, as well as the CEOs of major U.S. banks and governors or members of Congress from five states.

“This landmark super summit is all about stronger returns for Australians from stronger economic ties with the Americans,” Chalmers said.

Related News
US Withdraws Bounty on Taliban Leader
U for Reviving South Asia Strategy Aligned with Indo-Pacific Priorities
Sri Lanka’s Leftist Victory Sparks Hopes for Change and Unity
Trump’s Influence Overshadows Biden’s Final Meeting with Xi at APEC Summit
The Dark Prince and his Hawa Bhaban
Music Legend Quincy Jones Passes Away at 91
Related Posts
Biggest Stock Market Crash in a Decade Hits Bangladesh
India-Pakistan Tensions Shake South Asia, Clouds Loom Over Bangladesh’s Economy
Multiple Explosions Reported on Walton Road in Lahore
Bangladesh’s Mehidy Hasan Miraz Rises to No. 2 in ICC Test All-Rounder Rankings
Houthi Spokesperson: Ceasefire Deal with U.S. Does Not Include Israel
India-Pakistan Conflict“I Know Both Nations Well, This Must End”: Trump Calls for Peace
More News

India Signs $248 Million Arms Deal with Russia

India has signed a $248 million agreement with Russia to purchase more powerful engines for its Soviet-era battle tanks. The deal was made with Russia’s state arms exporter, Rosoboronexport, according to a statement from India’s Ministry of Defense on Friday (March 7). The T-72 tanks, first introduced in India in the 1970s, remain a primary […]

Bangladesh’s Interim Government Rejects Sheikh Mujib as “Father of the Nation”

how will the people of Bangladesh respond to this bold redefinition of their national story? In a surprising move, Nahid Islam, an adviser to Bangladesh’s Ministry of Posts, Telecommunications, and Information Technology, announced today that the interim government does not recognize Sheikh Mujibur Rahman, commonly known as Bangabandhu, as the Father of the Nation. This […]

Japan’s Prime Minister Ishiba Undergoes Second Medical Checkup in Five Days After Falling Asleep During Election

Prime Minister Shigeru Ishiba visited the Akasaka Sanno Medical Center in Tokyo on Wednesday morning for a medical checkup. Chief Cabinet Secretary Yoshimasa Hayashi addressed the visit during a press conference, stating that it was a routine checkup that had been scheduled in advance. Hayashi reassured the public, saying, “There are no health concerns, and […]

South Korea’s President Impeached Over Martial Law Controversy

In a dramatic turn of events, South Korea’s parliament voted on Saturday to impeach President Yoon Suk Yeol, marking a rare and extraordinary rebuke from within his own ruling party. The move follows Yoon’s controversial attempt to impose martial law and his refusal to step down voluntarily. This is the second instance in less than […]

Pakistan’s President Asif Ali Zardari Hospitalized

Pakistan’s President Asif Ali Zardari has been hospitalized due to a deterioration in his health. According to local news reports on Wednesday, President Zardari is currently receiving treatment at a private hospital in Karachi. According to a report by the Pakistani daily The Express Tribune, the 69-year-old president was transferred to the hospital from Nawabshah, […]

Former Malaysian Prime Minister Abdullah Ahmad Badawi Passes Away at 85

Former Malaysian Prime Minister Abdullah Ahmad Badawi has passed away at the age of 85. According to a report by British news agency Reuters, quoting the former leader’s family and Malaysian medical authorities, Abdullah died on Monday. He breathed his last at 7:10 PM local time at the National Heart Institute in the capital, Kuala […]

China Approves Clinical Trials for Domestic Mpox Vaccine by Sinopharm

BEIJING – China’s National Medical Products Administration has approved clinical trials for an experimental mpox vaccine developed by the state-owned pharmaceutical giant Sinopharm, marking a major step toward a home-grown solution for the disease. The vaccine, created jointly by the Beijing Institute of Biological Products under Sinopharm and the National Institute for Viral Disease Control […]

Amelia Dimoldenberg Returns to the Oscars as Social Media Ambassador

UK comedian, broadcaster, and producer Amelia Dimoldenberg is set to return as the Social Media Ambassador and Red Carpet Correspondent for the 97th Academy Awards. Dimoldenberg previously held the same role for the 96th Oscars season, and will once again provide exclusive behind-the-scenes access to the star-studded event, offering a unique and engaging perspective to […]

EU Considers Doubling Military Aid to Ukraine Amid Ongoing Conflict

The European Union is weighing a proposal to double its military aid to Ukraine this year, potentially reaching €40 billion ($43 billion), according to a discussion paper by the bloc’s diplomatic service. The updated proposal outlines Ukraine’s needs and suggests that each EU member state contribute in proportion to its economic capacity. This comes as […]

Tawhid hossain’s message for communal harmony to India

Mamata Banerjee Urges India to Send Peacekeepers to Bangladesh; Not a Wise Move, Says Bangladeshi advisor .Mamata Banerjee’s Statement Sparks Debate on Political Prudence Foreign Affairs Advisor Questions Impact on West Bengal Politics Bangladesh’s Foreign Affairs Advisor, Tawhid Hossain, has described West Bengal Chief Minister Mamata Banerjee’s recent remarks about sending peacekeepers to Bangladesh as […]