From www.abc.net.au: Australian steel prices have dropped significantly following the introduction of US tariffs on steel exports, prompting a surge in imports that increased by 50% over the past two years.

Businesses like ProWay have found that imported steel is now significantly cheaper, potentially leading Australia to become a “dumping ground” for foreign steel products.

Economists are concerned that escalating trade tensions could lead to a global recession, adversely affecting demand for Australia’s major exports, including coal and iron ore.