Australia's Trade Minister Ciobo says confident they have an exemption from US tariffs

Of course others are not so sure

The Australia's trade minister Ciobo is saying in a Bloomberg interview that he is confident that Australia will be exempt from US Steel and aluminium.

Of course, not other are feeling so warm and fuzzy as the May 1 exemption date is upon us. The decisions for other countries will be made in the US session. Canada and Mexico are expected to get an exemption (subject to NAFTA). European countries are not cut and dried, although Merkel has stated that they will react on any tariffs. The EU has also threatened to petition the WTO for unfair trade practices on the US.

Ciobo adds:

• Does not envision Australia caught in US China spat
• Australia would welcome US coming back to table on TPP
• Quite a lot of interest in other countries joining TPP