Australia's PM says he expects 10% US baseline tariff to stay

Australia will likely still be subjected to the 10% tariff rate on all exports to U.S. but the government will continue to try and negotiate for an exemption, Australian Prime Minister Anthony Albanese said on Friday. A 90-day pause in the U.S. "reciprocal" tariffs are set to expire early next week, with President Donald Trump threatening to send letters to countries laying out the tariff rates they will face on U.S. imports.

When asked if Australia will stay on the 10% baseline tariff rate after July 9 during an event in Sydney, Albanese said, "I assume that will be the case." The U.S. tariff deadline of July 9 is not expected to affect Australia, he added. "We are in a position where on July 9 that won't really have an impact on us because that's about other countries who have higher rates," said Albanese.

"No country has a better tariff level than 10%. Now we will continue to put our case as we do." Albanese's scheduled meeting with Trump on the sidelines of the G7 was cancelled last month when Trump left the summit early due to tensions between Israel and Iran.

The government is still trying to get a meeting with Trump, and Albanese said on Friday there would be many opportunities to meet at various forums between now and the end of the year.

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