US EditionAustralia Gains Competitive Edge Amid U.S. Tariff Changes
AUSTRALIA, JUL 31 – Australia expects a 10% baseline tariff after August 1 as US tariffs target trade surplus countries and raise concerns about economic impacts, officials said.
- On August 1, US President Donald Trump hinted at new tariffs, excluding Australia, which remains at a 10 per cent baseline.
- Earlier this year, Trump announced a tariff regime on April 2 at the White House, postponed for 90 days, and hinted at 15 to 20 per cent rates for countries without deals.
- With tariffs imminent, Chalmers warned Australia’s inclusion in higher US tariffs would be 'bad for the American economy' and called for zero rates to prevent 'economic self-harm' in the US.
- Amid domestic backlash, National Party leader David Littleproud criticised the Albanese Government for relying on assumptions and failing to engage with Trump, while Gordon Flake warned Trump's unpredictability undermines deadlines.
- Following the tariff announcement, Trade Minister Don Farrell said, `I think this is a vindication for the Albanese government and particularly the Prime Minister in the cool and calm way we have conducted diplomacy with the United States,' which makes products like wine, beef, lamb, and wheat cheaper into the United States.
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15 Articles
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Minister Says Trump Opted Not to Hike Tariffs on Australia, Credits ‘Calm’ Diplomacy
Australia has escaped steep tariff hikes from the United States, thanks to what Labor Trade Minister Don Farrell called Prime Minister Anthony Albanese’s “cool and calm” diplomacy. On Aug. 1, U.S. President Donald Trump released a list of updated tariffs on countries worldwide after considering issues like the “lack of reciprocity” in bilateral trade relationships, and the impact of “tariff rates and non-tariff barriers” on U.S. exports. The pre…
Australia Gains Competitive Edge Amid U.S. Tariff Changes
Australia Gains Competitive Edge Amid U.S. Tariff Changes Australian products are poised to gain a competitive advantage in the U.S. market following President Donald Trump's decision to maintain a minimum tariff rate of 10% for Australia. This move comes as Trump imposed higher import duties of up to 50% on 69 other trading partners.Trade Minister Don Farrell lauded the decision, emphasizing its potential to boost Australian export volumes. He …
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