Manufacturing News

Australian steel exports protected by FTA

FEDERAL Trade Minister Simon Crean says Australia’s steel exports are protected by the free trade agreement between Australia and the US.

US President Obama has passed a stimulus package which includes a ‘Buy America’ clause. However, it has softened the protectionist stance in deference of its obligations under previous international treaty agreements.

This move means the FTA obligations will remain intact, allowing Australia to export steel to the US.

The steel industry is under pressure, as they face demands from Chinese steelmakers for 45% price cuts, and diving steel prices.

The Trade Minister says the Australian government will continue trying to stop other protectionist measures which could affect other Australian exports.

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