Posted on 19 Feb 2025
Mark Vassella, Chief Executive Officer of BlueScope, an Australia-based steel plate product manufacturer, said US President Trump’s 25% steel and aluminum tariffs would benefit the company’s US operations in North America, as most of its steel sold there is locally produced. Steel prices have already risen by 20% since Trump’s tariff announcement last week.
However, he warned of a potential downside that China’s massive steel exports could be redirected to Australia, flooding the market and undermining local manufacturers. Therefore, he urged the federal government to implement strong and quick anti-dumping measures to protect Australia’s domestic steel industry.
Source:Yieh
