Australia Sunday warned against tit-for-tat retaliation and the outbreak of a trade war that could slow global economic growth, as it pushed to be excluded from US President Donald Trump’s steel and aluminium tariffs.
Canberra has sought to be exempt from the hefty tariffs, citing an understanding reached with the United States at G20 meetings last year.
There are also local industry concerns that the tariffs could see cheap steel destined for the US flood the domestic market instead.
