US President Donald Trump\u2019s proposed tariffs on steel and aluminum imports are a \u201cblack day\u201d for the world and businesses, BHP chief executive officer Andrew Mackenzie said Tuesday.<\/p>\n
Speaking at the AFR Business Summit, the leader of the world\u2019s biggest miner said Trump\u2019s protectionist move was just a way of propping up an uncompetitive industry.<\/p>\n
He was referring to the White House’s plan to hike tariffs on imported steel by 25% and by 10% on aluminum, which are expected to be discussed later this week in a meeting organized by the government\u2019s economics adviser Gary Cohn.<\/p>\n
Cohn is calling producers and executives from steel-dependant companies to\u00a0meet with the President\u00a0on Thursday to fight the announced increases.<\/p>\n
\u201cI am worried that people all around the world might suddenly say that free trade isn\u2019t good for the world,\u201d Mackenzie said during a panel on the economy. \u201cThat would be particularly bad for a trading company like BHP [\u2026] We have to speak up loudly against these measures as being bad for America and bad for the world,” he said\u00a0according to\u00a0Bloomberg<\/em><\/a>.<\/p>\n Australia is hoping Trump will fulfil a promise made on the sidelines of last year\u2019s G20 summit\u00a0to exempt its steel and aluminum. However, Trump has said he\u2019s\u00a0not considering any exclusions<\/a>\u00a0to the measure.<\/p>\n US Republican leaders, in turn, have expressed their worries about a potential global trade war, arguing\u00a0it could hit American jobs<\/a>\u00a0and undermine the benefits of recent corporate tax cuts.<\/p>\n