Australian silicon company forced out of US by 40pc tariffs
Australia's only silicon producer will exit the US market next week, but the federal government says the Trump administration's move does not undermine the critical minerals agreement between the two countries.
Australian silicon manufacturer Simcoa announced it would leave the United States on August 14 due to the imposition of a 40% tariff on its exports. Simcoa vice-president David Miles stated that the company has limited stock in US warehouses and will not return. The US International Trade Commission ruled that US and Norwegian governments subsidized the products, selling them at less than fair value.
The US Department of Commerce later affirmed this ruling, imposing additional duties. Simcoa claims it is not selling below fair value and attributes the tariff to US law being weaponized against it. Miles expressed disappointment, as Simcoa has been active in the US for years. Australia has a critical minerals agreement with the US, but Miles questioned its value now.
Simcoa will seek new markets in South-East Asia, India, and Europe. Federal Resources Minister Madeleine King stated that the Australian government will address the issue with the Trump administration and hopes to find new markets for Simcoa.
Written by urgent.news from ABC News AU's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
