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An uninhabited island, a military base and a ‘desolate’ former whaling station. Trump’s tariffs include unlikely targets
President Trump announced a 10% tariff on all imports, including the remote Heard and McDonald Islands, marking a significant expansion of his tariffs against trading partners.
Dow futures dropped nearly 1,000 points and major retail companies, like Dollar Tree and Walmart, saw stock declines of 11% and 6%, respectively, after the tariffs were announced.
Australian Prime Minister Anthony Albanese expressed confusion about the 29% tariff on Norfolk Island, stating, "I'm not quite sure that Norfolk Island... is a trade competitor with the giant economy of the United States."
The Australian Antarctic Division highlighted that Heard Island and McDonald Islands are uninhabited and among the world's least disturbed areas, limited in human activity due to harsh conditions.