Trade tariffs are the new normal and that's unlikely to be positive for Australia | Sally Auld
Briefly

from www.theguardian.com3 weeks ago
Recent US tariff policies, championed by President Trump, have garnered significant media attention. While these tariffs are seen as tools for tax revenue and trade negotiation, Australia's exports to the US, particularly in steel and aluminium, face minimal direct impact due to their small proportion of total exports. A 25% tariff on these sectors could affect specific firms but not the broader economy. Additionally, as Australia runs a trade deficit with the US, it is less threatened by tariffs compared to countries with trade surpluses. Overall, even a 10% increase in tariffs would have a negligible impact on Australia's GDP.
Australia's exports of steel and aluminium to the US are small, and even if tariffs are applied, the overall trade balance impact is minimal.
www.theguardian.comhttps://www.theguardian.com/commentisfree/2025/mar/10/trade-tariffs-are-the-new-normal-and-thats-unlikely-to-be-positive-for-australia
The new US administration sees tariffs as tools for revenue generation and negotiating, but Australia might remain largely unaffected by such policies.
www.theguardian.comhttps://www.theguardian.com/commentisfree/2025/mar/10/trade-tariffs-are-the-new-normal-and-thats-unlikely-to-be-positive-for-australia
Read at www.theguardian.com
#us-tariff-policy #australia-trade #steel-and-aluminium-tariffs #global-economy #economic-impact
[
|
]