Is Australia going to sign a special security agreement with the US on Steel tariffs?

Labor frontbencher Jim Chalmers says the Turnbull government needs to be transparent about the arrangements it's made with the United States to avoid new tariffs on steel and aluminium.

U-S President Donald Trump has tweeted his administration is working on a "security agreement" with Australia, so it can exempt tariffs of 25 per cent on steel and 10 per cent on aluminium imports on its ally.

Foreign Minister Julie Bishop says President Trump wasn't referring to a new military agreement.