BlueScope Gains on Potential Tariff Exemption for Australia -- Market Talk

Dow Jones

2025/02/11

0102 GMT - BlueScope Steel is outperforming Australia's benchmark ASX 200 index after Prime Minister Anthony Albanese said the U.S. is considering exempting the country from tariffs on steel and aluminum. Albanese made the remarks following a call with President Trump. Albanese said Australia has a significant trade surplus with the U.S. dating back to the Truman administration and highlighted that BlueScope, which owns the North Star mill in Ohio, is the U.S.'s fifth-largest steel maker. The U.S. isn't a big destination for steel manufactured in Australia, which is mainly sold at home. BlueScope is up 1.7% today, outpacing a 0.2% rise by the ASX 200. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

February 10, 2025 20:02 ET (01:02 GMT)

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