Latest news with #BlueScope
Yahoo
2 days ago
- Business
- Yahoo
Rio Tinto Secures ARENA Support to Advance Decarbonisation Project
Rio Tinto Group RIO announced that its joint venture NeoSmelt secured Australian Renewable Energy Agency's ('ARENA') support for its planned Western Australian pilot plant. Rio Tinto, BHP Group BHP, and BlueScope, Australia's largest steelmaker, formed the NeoSmelt collaboration in February 2024. The joint venture was formed to develop Australia's largest ironmaking electric smelting furnace (ESF) pilot plant in Western aim was to advance decarbonizing the steelmaking process, which is the need of the hour, considering that steel production accounts for around 8% of the world's carbon combined BHP and Rio Tinto's knowledge of Pilbara iron ore with BlueScope's unique operating experience in ESF technology. BlueScope is the operator of the world's only ESF processing direct reduced iron (DRI) in New Woodside Energy and Mitsui Iron Ore Development have teamed up with Rio Tinto, BHP Group and BlueScope to grow NeoSmelt further. NeoSmelt secured A$19.8 million ($12.9) for a FEED study to develop lower-carbon production using Pilbara iron ore. The Western Australian Government has previously committed A$75 ($48.9) million contribution to the NeoSmelt pilot plant will test and optimize the production of iron from the ESF. The ESF is capable of producing iron suitable for the basic oxygen steelmaking process. Iron ore is first converted to DRI before being charged into the ESF. The DRI-ESF equipment can replace the traditional blast furnace. This can help in reductions of up to 80% in CO2 emission intensity compared with the conventional blast furnace steel pilot plant will produce molten iron of 30,000-40,000 tons a year. It will initially use natural gas to reduce iron ore to DRI. Once operational, the project aims to use lower-carbon emissions hydrogen for the project is currently in the feasibility phase, and the final investment decision for the pilot plant is expected in 2026, with operations anticipated to start in 2028. In the past year, shares of the company have lost 6.7% against the industry's 1% growth. Image Source: Zacks Investment Research Rio Tinto currently has a Zacks Rank #4 (Sell).Some better-ranked stocks from the basic materials space are SSR Mining Inc. SSRM and ATI Inc. ATI. SSR Mining currently sports a Zacks Rank #1 (Strong Buy), and ATI carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks Mining has an average trailing four-quarter earnings surprise of 58.8%. The Zacks Consensus Estimate for SSRM's 2025 earnings is pegged at $1.14 per share, implying year-over-year growth of 307%. SSR Mining stock has soared 88.6% last has an average trailing four-quarter earnings surprise of 12.54%. The Zacks Consensus Estimate for ATI's 2025 earnings is pegged at $3.01 per share, indicating year-over-year growth of 22.4%. ATI shares have jumped 54% last year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report ATI Inc. (ATI) : Free Stock Analysis Report Rio Tinto PLC (RIO) : Free Stock Analysis Report Silver Standard Resources Inc. (SSRM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
NeoSmelt receives $12.9m in federal support for low-emission steel production pilot plant
NeoSmelt has received A$19.8m from the Australian Renewable Energy Agency (ARENA) to support the front-end engineering design (FEED) study for its pilot plant in Western Australia (WA). The project aims to develop Australia's largest ironmaking electric smelting furnace to demonstrate a method for producing molten iron with reduced carbon emissions. NeoSmelt is a joint venture (JV) dedicated to producing lower-emission steel from Pilbara iron ore. Managed by BlueScope, it comprises founders BlueScope, BHP and Rio Tinto, and two new equity participants: Woodside Energy and Mitsui Iron Ore Development. All five participants holding equal equity stakes. The JV announced Kwinana Industrial Area as the location for the project in December last year. BlueScope Australia CEO Tania Archibald, on behalf of the JV, said: 'Today marks a significant step forward in developing a technology for lower-carbon emissions steelmaking using Pilbara ore, and we are delighted by ARENA's A$19.8m commitment to support the feasibility phase of this groundbreaking R&D [research and development] pilot plant. 'With this backing from government and industry leaders, we now have the opportunity to develop world-leading technology that will have potential application across the global steel industry and provides the foundation for a future Australian lower-carbon emissions iron export industry.' The ARENA funding complements a A$75m contribution from the WA Government announced last year. The feasibility study for the project is currently ongoing and will inform a final investment decision expected in 2026. The pilot plant, expected to begin operations in 2028, is projected to produce between 30,000 and 40,000 tonnes of molten iron annually. Initially, the plant will use natural gas supplied by Woodside Energy to reduce iron ore to direct reduced iron. The long-term goal is to utilise lower-carbon emissions hydrogen for this process. If successful, the NeoSmelt project could offer a sustainable alternative to traditional blast furnace steelmaking, potentially ensuring the longevity of Australia's iron ore industry. "NeoSmelt receives $12.9m in federal support for low-emission steel production pilot plant" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
NeoSmelt welcomes Federal Government support and signs two new participants for groundbreaking steel decarbonisation project
PERTH, Australia, June 17, 2025--(BUSINESS WIRE)--NeoSmelt, a consortium of leading resources, energy and manufacturing companies working together on ways to produce lower-emissions steel1 from Pilbara iron ore, welcomes Australian Renewable Energy Agency (ARENA) support for its planned Western Australian pilot plant. The consortium, founded by BlueScope, BHP and Rio Tinto also welcomes two new equity participants – Woodside Energy and Mitsui Iron Ore Development – to the NeoSmelt joint venture, with the five participants taking equal equity stakes in the joint venture. NeoSmelt, which is managed by BlueScope, plans to develop Australia's largest ironmaking electric smelting furnace2 (ESF) pilot plant at the Kwinana Industrial Area, south of Perth, to demonstrate a method to produce lower-carbon emissions molten iron from Western Australian iron ore. ARENA has committed A$19.8 million to support a Front-End Engineering Design (FEED) study for the NeoSmelt project, which aims to prove Pilbara iron ore can be used to produce lower-carbon3 iron using a direct reduced iron - electric smelting furnace (DRI-ESF) pathway. If successful, this has the potential to unlock longer term alternatives to the traditional blast furnace steelmaking route and help ensure the longevity of Australia's iron ore industry. The project has now entered the feasibility phase. The feasibility study will help inform a final investment decision, expected in 2026. BlueScope Chief Executive Australia, Tania Archibald, on behalf of the Joint Venture said: "Today marks a significant step forward in developing a technology for lower-carbon emissions steelmaking using Pilbara ore, and we're delighted by ARENA's $19.8 million commitment to support the feasibility phase of this groundbreaking R&D pilot plant. "We also officially welcome Woodside Energy and Mitsui Iron Ore Development to the NeoSmelt joint venture, joining founding participants BlueScope, BHP and Rio Tinto. With this backing from government and industry leaders, we now have the opportunity to develop world leading technology that will have potential application across the global steel industry and provides the foundation for a future Australian lower-carbon emissions iron export industry." Federal Resources Minister and Member for Brand, Madeleine King said: "The fuels, metals, fertiliser, chemicals and grain shipped from Kwinana have powered Western Australia and the region since the 1950s. "Now Kwinana is playing a central role in the world's energy transition and a big part in global efforts to decarbonise. If we can decarbonise steel making, we will create far fewer emissions when building the cities of the world." The ARENA funding adds to the A$75 million contribution from the Western Australian Government announced last year. Western Australian Premier Roger Cook said: "Local manufacturing is crucial to my Government's plan for a future that is Made in WA - which is why we are working closely with the Commonwealth Government and NeoSmelt to diversify Western Australia's economy. That way, we can maintain WA's nation-leading economy by supporting continued investment in new industries and creating more jobs for the future. "As a Kwinana local, I'm proud to see this NeoSmelt facility play a part in our State's decarbonisation. This cutting-edge facility is an example of how governments and businesses are coming together to put WA at the forefront of the global push to slash emissions from steel production." If approved, operations at the NeoSmelt pilot plant, which is expected to produce 30,000 to 40,000 tonnes of molten iron a year, are planned to begin in 2028. With Woodside as the preferred energy supplier, the pilot plant would initially use natural gas to reduce iron ore to DRI. Once operational, the project aims to use lower-carbon emissions hydrogen to reduce iron ore. Additional information Pilot Electric Smelting Facility The NeoSmelt pilot plant is intended to test and optimise production of iron from the electric smelting furnace (ESF), a type of furnace being developed by leading steel producers and technology companies targeting lower-carbon emission-intensity steel. The ESF is capable of producing iron suitable for the basic oxygen furnace steelmaking process. Iron ore is first converted to direct reduced iron (DRI) before being charged into the ESF. Together, the DRI-ESF equipment can replace the traditional blast furnace. Estimates show reductions of up to 80^ per cent in CO2 emission intensity are potentially achievable processing Pilbara iron ore through a DRI-ESF pathway, compared with the current industry average for the conventional blast furnace steel route. Other lower CO2 emission-intensity production routes, such as electric arc furnaces, require scrap steel and DRI produced from high grade iron ore. The ESF potentially allows for greater flexibility in input raw materials, addressing one of the key barriers to wider adoption of lower-carbon emissions technology. The ESF also has the potential to be integrated into a steel plant's existing downstream production units. Footnotes 1 Compared to the conventional blast furnace – basic oxygen furnace (BF-BOF) process 2 Also known in the industry as an "electric melter". 3 Lower-carbon has the characteristic of having lower levels of associated potential greenhouse gas emissions when compared to historical and/or current conventions or analogues, for example relating to an otherwise similar resource, process, production facility, product or service, or activity. ^ Assumes utilisation of renewable energy to power the DRI-ESF facility and zero emissions hydrogen in the DRI plant. The remaining CO2 emissions are from carbon required in the process of making liquid iron suitable for the basic oxygen furnace steelmaking process. View source version on Contacts BlueScope Michael ReayM +61 437 862 472E Minister King Nick ButterlyM + 61 499 947 024E Premier Cook Jordan MurrayM +61 419 102 823E Category: General Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
5 days ago
- Business
- Business Wire
NeoSmelt welcomes Federal Government support and signs two new participants for groundbreaking steel decarbonisation project
PERTH, Australia--(BUSINESS WIRE)--NeoSmelt, a consortium of leading resources, energy and manufacturing companies working together on ways to produce lower-emissions steel 1 from Pilbara iron ore, welcomes Australian Renewable Energy Agency (ARENA) support for its planned Western Australian pilot plant. The consortium, founded by BlueScope, BHP and Rio Tinto also welcomes two new equity participants – Woodside Energy and Mitsui Iron Ore Development – to the NeoSmelt joint venture, with the five participants taking equal equity stakes in the joint venture. NeoSmelt, which is managed by BlueScope, plans to develop Australia's largest ironmaking electric smelting furnace 2 (ESF) pilot plant at the Kwinana Industrial Area, south of Perth, to demonstrate a method to produce lower-carbon emissions molten iron from Western Australian iron ore. ARENA has committed A$19.8 million to support a Front-End Engineering Design (FEED) study for the NeoSmelt project, which aims to prove Pilbara iron ore can be used to produce lower-carbon 3 iron using a direct reduced iron - electric smelting furnace (DRI-ESF) pathway. If successful, this has the potential to unlock longer term alternatives to the traditional blast furnace steelmaking route and help ensure the longevity of Australia's iron ore industry. The project has now entered the feasibility phase. The feasibility study will help inform a final investment decision, expected in 2026. BlueScope Chief Executive Australia, Tania Archibald, on behalf of the Joint Venture said: 'Today marks a significant step forward in developing a technology for lower-carbon emissions steelmaking using Pilbara ore, and we're delighted by ARENA's $19.8 million commitment to support the feasibility phase of this groundbreaking R&D pilot plant. 'We also officially welcome Woodside Energy and Mitsui Iron Ore Development to the NeoSmelt joint venture, joining founding participants BlueScope, BHP and Rio Tinto. With this backing from government and industry leaders, we now have the opportunity to develop world leading technology that will have potential application across the global steel industry and provides the foundation for a future Australian lower-carbon emissions iron export industry.' Federal Resources Minister and Member for Brand, Madeleine King said: 'The fuels, metals, fertiliser, chemicals and grain shipped from Kwinana have powered Western Australia and the region since the 1950s. 'Now Kwinana is playing a central role in the world's energy transition and a big part in global efforts to decarbonise. If we can decarbonise steel making, we will create far fewer emissions when building the cities of the world.' The ARENA funding adds to the A$75 million contribution from the Western Australian Government announced last year. Western Australian Premier Roger Cook said: 'Local manufacturing is crucial to my Government's plan for a future that is Made in WA - which is why we are working closely with the Commonwealth Government and NeoSmelt to diversify Western Australia's economy. That way, we can maintain WA's nation-leading economy by supporting continued investment in new industries and creating more jobs for the future. 'As a Kwinana local, I'm proud to see this NeoSmelt facility play a part in our State's decarbonisation. This cutting-edge facility is an example of how governments and businesses are coming together to put WA at the forefront of the global push to slash emissions from steel production.' If approved, operations at the NeoSmelt pilot plant, which is expected to produce 30,000 to 40,000 tonnes of molten iron a year, are planned to begin in 2028. With Woodside as the preferred energy supplier, the pilot plant would initially use natural gas to reduce iron ore to DRI. Once operational, the project aims to use lower-carbon emissions hydrogen to reduce iron ore. Additional information Pilot Electric Smelting Facility The NeoSmelt pilot plant is intended to test and optimise production of iron from the electric smelting furnace (ESF), a type of furnace being developed by leading steel producers and technology companies targeting lower-carbon emission-intensity steel. The ESF is capable of producing iron suitable for the basic oxygen furnace steelmaking process. Iron ore is first converted to direct reduced iron (DRI) before being charged into the ESF. Together, the DRI-ESF equipment can replace the traditional blast furnace. Estimates show reductions of up to 80^ per cent in CO2 emission intensity are potentially achievable processing Pilbara iron ore through a DRI-ESF pathway, compared with the current industry average for the conventional blast furnace steel route. Other lower CO2 emission-intensity production routes, such as electric arc furnaces, require scrap steel and DRI produced from high grade iron ore. The ESF potentially allows for greater flexibility in input raw materials, addressing one of the key barriers to wider adoption of lower-carbon emissions technology. The ESF also has the potential to be integrated into a steel plant's existing downstream production units. Footnotes 1 Compared to the conventional blast furnace – basic oxygen furnace (BF-BOF) process 2 Also known in the industry as an 'electric melter'. 3 Lower-carbon has the characteristic of having lower levels of associated potential greenhouse gas emissions when compared to historical and/or current conventions or analogues, for example relating to an otherwise similar resource, process, production facility, product or service, or activity. ^ Assumes utilisation of renewable energy to power the DRI-ESF facility and zero emissions hydrogen in the DRI plant. The remaining CO2 emissions are from carbon required in the process of making liquid iron suitable for the basic oxygen furnace steelmaking process.
The Advertiser
02-06-2025
- Business
- The Advertiser
Call for local steel mandate in face of Trump's tariffs
Australia is being urged to mandate the use of local steel in projects to protect the nation's workers and industry from Donald Trump's tariffs. The US president has announced a plan to double levies on foreign steel from 25 per cent to 50 per cent in coming days. Australian goods exported to the US are already subject to a 10 per cent baseline tariff. Australia must adopt strong domestic protections, says union secretary Arthur Rorris, whose South Coast Labour Council includes workers from BlueScope's Port Kembla Steelworks. "If we don't mandate the use of our steel for our own uses, we will become the path of least resistance for the glut of global steel," he told AAP. "If you don't defend your own markets, others will take them." Labor could not just talk about a future made in Australia but had to provide the funds to back it, Mr Rorris said. He said the government needed to understand the transactional nature of the Trump administration and use whatever leverage it had to get a better deal. Treasurer Jim Chalmers in February said quotas for Australian steel were under consideration. Australian Steel Association chief executive David Buchanan said he was yet to see dumping of cheap foreign steel into Australia. "We do have a very strong system to protect the industry from dumped materials," he told ABC radio. Mr Buchanan said the US president's decision would not have a major impact on Australian industry, but would result in increased prices for American consumers. Prime Minister Anthony Albanese branded the move an act of "economic self-harm" and is expected to sit down with the American leader on the sidelines of the G7 summit in Canada later in June. Mr Trump's deepening trade war is considered destabilising to the framework that has benefited middle powers such as Australia. Announcing the steel and aluminium tariffs earlier this year, Mr Trump committed to imposing them "without exceptions or exemptions" in a bid to help shield domestic industries. The Albanese government has ruled out retaliatory tariffs against the US as it tries to secure an exemption for Australian goods. But Australia could take the US to the World Trade Organisation, as it did with China over punitive trade sanctions imposed during the COVID-19 pandemic as diplomatic relations hit a low. Trade Minister Don Farrell has said the government would continue to "coolly and calmly" argue its case for the removal of the tariffs. Canada has taken the US to the umpire, which determines global trade rules. Senator Farrell is travelling to France, leading Australia's delegation to the OECD Ministerial Council Meeting. On the sidelines of that meeting, Australia will host an informal meeting of World Trade Organisation ministers to discuss the importance of an open, rules-based global trading system. In Mr Trump's first term, the US president gave Australia exemptions on the argument the US has a trade surplus with its ally. Australia is being urged to mandate the use of local steel in projects to protect the nation's workers and industry from Donald Trump's tariffs. The US president has announced a plan to double levies on foreign steel from 25 per cent to 50 per cent in coming days. Australian goods exported to the US are already subject to a 10 per cent baseline tariff. Australia must adopt strong domestic protections, says union secretary Arthur Rorris, whose South Coast Labour Council includes workers from BlueScope's Port Kembla Steelworks. "If we don't mandate the use of our steel for our own uses, we will become the path of least resistance for the glut of global steel," he told AAP. "If you don't defend your own markets, others will take them." Labor could not just talk about a future made in Australia but had to provide the funds to back it, Mr Rorris said. He said the government needed to understand the transactional nature of the Trump administration and use whatever leverage it had to get a better deal. Treasurer Jim Chalmers in February said quotas for Australian steel were under consideration. Australian Steel Association chief executive David Buchanan said he was yet to see dumping of cheap foreign steel into Australia. "We do have a very strong system to protect the industry from dumped materials," he told ABC radio. Mr Buchanan said the US president's decision would not have a major impact on Australian industry, but would result in increased prices for American consumers. Prime Minister Anthony Albanese branded the move an act of "economic self-harm" and is expected to sit down with the American leader on the sidelines of the G7 summit in Canada later in June. Mr Trump's deepening trade war is considered destabilising to the framework that has benefited middle powers such as Australia. Announcing the steel and aluminium tariffs earlier this year, Mr Trump committed to imposing them "without exceptions or exemptions" in a bid to help shield domestic industries. The Albanese government has ruled out retaliatory tariffs against the US as it tries to secure an exemption for Australian goods. But Australia could take the US to the World Trade Organisation, as it did with China over punitive trade sanctions imposed during the COVID-19 pandemic as diplomatic relations hit a low. Trade Minister Don Farrell has said the government would continue to "coolly and calmly" argue its case for the removal of the tariffs. Canada has taken the US to the umpire, which determines global trade rules. Senator Farrell is travelling to France, leading Australia's delegation to the OECD Ministerial Council Meeting. On the sidelines of that meeting, Australia will host an informal meeting of World Trade Organisation ministers to discuss the importance of an open, rules-based global trading system. In Mr Trump's first term, the US president gave Australia exemptions on the argument the US has a trade surplus with its ally. Australia is being urged to mandate the use of local steel in projects to protect the nation's workers and industry from Donald Trump's tariffs. The US president has announced a plan to double levies on foreign steel from 25 per cent to 50 per cent in coming days. Australian goods exported to the US are already subject to a 10 per cent baseline tariff. Australia must adopt strong domestic protections, says union secretary Arthur Rorris, whose South Coast Labour Council includes workers from BlueScope's Port Kembla Steelworks. "If we don't mandate the use of our steel for our own uses, we will become the path of least resistance for the glut of global steel," he told AAP. "If you don't defend your own markets, others will take them." Labor could not just talk about a future made in Australia but had to provide the funds to back it, Mr Rorris said. He said the government needed to understand the transactional nature of the Trump administration and use whatever leverage it had to get a better deal. Treasurer Jim Chalmers in February said quotas for Australian steel were under consideration. Australian Steel Association chief executive David Buchanan said he was yet to see dumping of cheap foreign steel into Australia. "We do have a very strong system to protect the industry from dumped materials," he told ABC radio. Mr Buchanan said the US president's decision would not have a major impact on Australian industry, but would result in increased prices for American consumers. Prime Minister Anthony Albanese branded the move an act of "economic self-harm" and is expected to sit down with the American leader on the sidelines of the G7 summit in Canada later in June. Mr Trump's deepening trade war is considered destabilising to the framework that has benefited middle powers such as Australia. Announcing the steel and aluminium tariffs earlier this year, Mr Trump committed to imposing them "without exceptions or exemptions" in a bid to help shield domestic industries. The Albanese government has ruled out retaliatory tariffs against the US as it tries to secure an exemption for Australian goods. But Australia could take the US to the World Trade Organisation, as it did with China over punitive trade sanctions imposed during the COVID-19 pandemic as diplomatic relations hit a low. Trade Minister Don Farrell has said the government would continue to "coolly and calmly" argue its case for the removal of the tariffs. Canada has taken the US to the umpire, which determines global trade rules. Senator Farrell is travelling to France, leading Australia's delegation to the OECD Ministerial Council Meeting. On the sidelines of that meeting, Australia will host an informal meeting of World Trade Organisation ministers to discuss the importance of an open, rules-based global trading system. In Mr Trump's first term, the US president gave Australia exemptions on the argument the US has a trade surplus with its ally. Australia is being urged to mandate the use of local steel in projects to protect the nation's workers and industry from Donald Trump's tariffs. The US president has announced a plan to double levies on foreign steel from 25 per cent to 50 per cent in coming days. Australian goods exported to the US are already subject to a 10 per cent baseline tariff. Australia must adopt strong domestic protections, says union secretary Arthur Rorris, whose South Coast Labour Council includes workers from BlueScope's Port Kembla Steelworks. "If we don't mandate the use of our steel for our own uses, we will become the path of least resistance for the glut of global steel," he told AAP. "If you don't defend your own markets, others will take them." Labor could not just talk about a future made in Australia but had to provide the funds to back it, Mr Rorris said. He said the government needed to understand the transactional nature of the Trump administration and use whatever leverage it had to get a better deal. Treasurer Jim Chalmers in February said quotas for Australian steel were under consideration. Australian Steel Association chief executive David Buchanan said he was yet to see dumping of cheap foreign steel into Australia. "We do have a very strong system to protect the industry from dumped materials," he told ABC radio. Mr Buchanan said the US president's decision would not have a major impact on Australian industry, but would result in increased prices for American consumers. Prime Minister Anthony Albanese branded the move an act of "economic self-harm" and is expected to sit down with the American leader on the sidelines of the G7 summit in Canada later in June. Mr Trump's deepening trade war is considered destabilising to the framework that has benefited middle powers such as Australia. Announcing the steel and aluminium tariffs earlier this year, Mr Trump committed to imposing them "without exceptions or exemptions" in a bid to help shield domestic industries. The Albanese government has ruled out retaliatory tariffs against the US as it tries to secure an exemption for Australian goods. But Australia could take the US to the World Trade Organisation, as it did with China over punitive trade sanctions imposed during the COVID-19 pandemic as diplomatic relations hit a low. Trade Minister Don Farrell has said the government would continue to "coolly and calmly" argue its case for the removal of the tariffs. Canada has taken the US to the umpire, which determines global trade rules. Senator Farrell is travelling to France, leading Australia's delegation to the OECD Ministerial Council Meeting. On the sidelines of that meeting, Australia will host an informal meeting of World Trade Organisation ministers to discuss the importance of an open, rules-based global trading system. In Mr Trump's first term, the US president gave Australia exemptions on the argument the US has a trade surplus with its ally.
