Australia said it will not impose reciprocal tariffs on the U.S. after President Trump ruled out exemptions or exceptions for all countries on steel and aluminum tariffs, saying it would only increase prices for Australians and spur inflation.

Australia said it will not impose reciprocal tariffs on the U.S. after President Trump ruled out exemptions or exceptions for all countries on steel and aluminum tariffs, saying it would only increase prices for Australians and spur inflation.