There's uncertainty whether or not Australia will get off scot-free from Donald Trump's latest tariffs.

The US President is imposing 25 percent tariffs for all steel and aluminium imports - saying there'll be no exceptions. 

But he's also told Australia's Prime Minister the trade surplus with Australia will be taken into consideration.

Australian correspondent Murray Olds says the AUKUS pact will likely also play a part in a potential exemption.

LISTEN ABOVE

• ‘All hell’: Trump’s ultimatum on Gaza hostage situation
• Trump signs executive orders on steel, aluminium tariffs
• ‘So expensive’: Avian flu triggers US egg price hike, shortages
• ‘Serious threat’: Iran slams US plan to displace Palestinians in Gaza
• ‘Evisceration of democracy’: Trump, Musk face backlash over spending cuts