US President Donald Trump holds tariff rate for Australia at 10 per cent
Mr Trump signed in higher rates for many countries under a new executive order, but the tariff on Australian imports will remain at the original baseline of 10 per cent.
The US leader had earlier threatened to increase tariffs on Australia to 15 or 20 per cent.
In a statement from Thursday morning, the Whitehouse said President Trump had decided to 'adjust' his 'reciprocal' tariff regime, first announced on April 2, in response to trade negotiations with individual countries.
'Several countries have agreed to, or are on the verge of agreeing to, meaningful trade deals and security agreements with the United States,' the statements reads.
'Some countries, through negotiations, have offered terms that, in the President's judgment, do not sufficiently address the national emergency he declared on April 2.
'Some countries have not negotiated at all with the United States.
'Based on this additional information and recommendations from senior officials, among other things, the President has determined that it is necessary and appropriate to modify the reciprocal tariff rates for certain countries.'
The Whitehouse then lists a set of countries under 'Annex 1', with individual tariff rates set out for each nation.
'Countries not listed in Annex I will be subject to a 10 per cent tariff,' the Whitehouse said.
Australia is not included in Annex 1.
Several countries, including ostensible US allies, now face steeper import duties.
Canada has been whacked with a higher 35 per cent tariff, a move up from its original 25 per cent hit.
Taiwan, a key US ally in Asia, faces a 20 per cent rate.
Small nations with tiny economies have also been slammed.
The Pacific country of Vanuatu, with a population of some 330,000, faces a 15 per cent tariff, while Laos has copped a 40 per cent tariff blow.
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