Update: 1 June 2025 (US time)
President Donald Trump has announced plans to double tariffs on steel and aluminium imports from 25% to 50% from 4 June to protect US manufacturing.
Trade and Investment Queensland is working to understand the impacts and will continue to monitor developments.
Update: 29 May 2025 (US time)
The United States Court of Appeals has re-instated the Trump Administration's Worldwide, Retaliatory, and Trafficking Tariff Orders, pending an appeal hearing into the Court of International Trade's ruling that the orders are an overreach of Presidential authority.
The court had ruled that the International Emergency Economic Powers Act (IEEPA), which the President has cited to implement most tariffs, does not override Congress’s exclusive and constitutional authority to regulate commerce with other countries.
(The ruling does not apply to tariffs on Steel, Aluminium and Automobiles, enacted under the Trade Expansion Act).
The United States' weighted average tariff rate (the average tariff rate, weighted by volume of imports) remains elevated, despite trade deals with the United Kingdom and China, the suspension of some tariffs, and the expansion of exemptions.
The US and China released a joint statement agreeing to lower tariffs by 115 per cent from 14 May 2025 (with 91 per cent removed, and 24 per cent suspended for 90 days.)
This brings the US tariff on China down to 30 per cent (from 145 per cent), and China's tariff on the US down to 10 per cent (from 125 per cent).
This follows the 8 April 2025 Executive Order that suspended 'reciprocal tariffs' of between 11 and 50 per cent on almost 60 countries for a period of 90 days.
Currently, over 180 countries are subject to the 10 per cent 'baseline' tariff.
Current tariffs on Australian exports to the United States
Most Australian exports to the US are subject to a 10 per cent 'baseline' tariff.
There are some exemptions. These include pharmaceuticals, oil and gas, timber, semiconductors, gold, copper and certain critical minerals.
Additionally, some goods including steel, aluminium and automotive parts are subject to a 25 per cent tariff (these are exempt from the 10 per cent baseline tariff).
Despite speculation to the contrary, there are currently no additional new sector specific bans or tariffs on Australian goods or services.
The Trump Administration has flagged a 100 per cent tariff on films made outside the US, however the White House says that no final decisions have been made.
US remains a key trading partner
The US is an important trade and investment partner to Queensland, with $3.6 billion worth of exports during 2024. This does not change, and Trade and Investment Queensland (TIQ) will continue to work to support our clients to succeed in this market.
While recognising that tariffs can present challenges to Queensland businesses operating across highly integrated global supply chains, they can also offer opportunities.
At a time when Queensland businesses are facing an uncertain global environment, it has never been more important for Queensland to support its exporters – with one in five Queensland jobs supported by trade.
Our work continues
Trade and Investment Queensland (TIQ) continues to actively engage with its clients and industry who are trading with the US, providing them with the knowledge and insight to continue to succeed there and to understand and explore potential opportunities for diversification.
This includes ensuring that Queensland businesses are aware of the support announced by the Federal Government, including:
- Clarification that Australia will not impose reciprocal tariffs, and that Australia will continue to engage with the Trump Administration on tariffs.
- Financial assistance - $50 million fund has been established to help exporters identify and access alternative international markets.
- Zero-interest loans - A $1 billion program offering zero-interest loans has been launched under a new economic resilience initiative to bolster impact sectors.
TIQ and Queensland remain open for business with the US and the world.
Stay up to date
To stay informed on the latest changes and exemptions, refer to the White House Clarification of Exemptions.
For more detailed information on specific product tariffs, including applied rates, exemptions, and official definitions, consult the Harmonized Tariff Schedule (HTS), which provides comprehensive classification details, chapter notes, and section notes relevant to U.S. trade.
Please see the Austrade Go Global Toolkit for additional information on the support for Australian businesses impacted by the US tariff changes.
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Whether you are an experienced exporter looking to expand your global footprint or a new exporter starting your journey, TIQ can help you scale your business internationally.