** Shares of Rio Tinto RIO.AX fall 2.4% to A$118.68
** Stock tracks broader losses in mining index .AXMM, which is down about 1%
** Iron ore miners drop after local media reported that Australia would not be exempted from U.S. President Donald Trump's proposed tariffs on steel and aluminium
** Other iron ore miners, including BHP Group BHP.AX and Fortescue FMG.AX, drag 1.4% and 1.6%, respectively
** Bloomberg News reported that Rio sold $9 billion of U.S. investment-grade bonds on Tuesday to fund its massive purchase of Arcadium Lithium 7WO0.BE
** RIO stock down 0.9%, YTD
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com;))
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