Australian Prime Minister Anthony Albanese says U.S. tariffs on Australian steel and aluminum are unjustified, but his government will not retaliate with its own tariffs.

Australia will not impose reciprocal tariffs on the United States, Prime Minister Anthony Albanese said on Wednesday, after President Donald Trump ruled out exemptions or exceptions for all countries on steel and aluminium tariffs.

The next challenge for Australian steel and aluminium exporters, as well as their upstream and downstream counterparts, is how to navigate the uncertainty in global markets, as global supply chains adjust.