Statement | Response to US Tariff Announcement
The Executive Orders signed by President Donald Trump to impose a uniform 25 percent tariff on steel and aluminium imports is a reminder of the volatility of global trade and the possible impacts to Queensland’s resources sector.
The Queensland Resources Council (QRC) said that while only 3 percent of all Queensland goods head to the United States, any measures that decease global trade are a concern for our economy that is reliant on exports.
CEO of the QRC, Janette Hewson, said that Queensland’s major trading partners that export steel or aluminium to the United States include China, Japan, India, South Korea and Vietnam.
“There is a ripple effect of these decisions for global trade that could send shockwaves through Queensland’s resources sector,” said Ms Hewson.
“This decision could set a precedent for other resources, like the coal, critical minerals and metals needed for powering the global energy transition.”
“Queensland must get its foundational policies right to remain competitive in the face of global impacts and to retain the state’s economic prosperity.”
“Removing barriers to investment, keeping costs down, and ensuring Australia remains an attractive place to do business should be a priority of our government.”
Queensland is a major exporter of inputs such as bauxite, alumina and metallurgical coal to several major aluminium and steel producers. In 2024, Queensland exported around 345,000 tonnes of aluminium, with almost 200,000 tonnes going to Japan and the balance to South Korea and Taiwan.
