“If you do ever put steel tariffs on,” Turnbull said, “you’ve got to exempt Australian steel. We do this steel that’s specialty steel. We’re the only one that produces it in the world. You’ve got to let us out. You’ve got a $40 billion trade surplus with us. We’re military allies with you. We’re in every battle with you.” “Of course,” Trump said, “we’ll let you out. That makes total sense. You guys are great. We’ve got a big surplus with you guys”—the holy grail. Gary Cohn, who was in the meeting, was pleased. Turnbull had previously been a partner at Goldman Sachs and had worked for Cohn when
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