Monday, August 3

Tag: tariffs

25Jul By AdminsNo Comments

Australia backs trade position in face of ‘unjustified’ new US tariffs

Australia has voiced its disappointment but boasted of its trade position after it was hit with a new round of tariffs by the Trump administration. In an announcement on Friday, US Trade Representative Jamieson Greer said new import tariffs of 10 per cent to 12.5 per cent would apply to 60 trading partners around the world as the country frames the decision around the human rights issue of modern slavery. Donald Trump’s administration has unveiled a new round of tariffs. AP According to the documents provided, Australian imports will be hit with a 12.5 per cent tariff. Australian Trade Minister Don Farrell said he was disappointed in what was an “unjustified” decision and defended the government’s track record on the issue of modern slavery. “The Albanese government ...
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21Oct By AdminsNo Comments

Donald Trump and Anthony Albanese sign critical minerals deal in chummy first White House meeting

Australian Prime Minister Anthony Albanese has walked away from his long-awaited White House meeting with an $8.5 billion critical minerals deal and some effusive praise from US President Donald Trump. In a 35-minute sitdown, Trump referred to his visitor repeatedly as a friend and seemed to throw his support behind the AUKUS deal but declined to budge on Australia's tariff levels and took a swipe at former prime minister Kevin Rudd, who was also in the room. After multiple attempts to meet in person over the past months, Albanese and Trump shook hands outside the White House on Monday morning (early Tuesday AEDT) and sat down in the cabinet room surrounded by Trump's top secretaries. Anthony Albanese and Donald Trump meet at the White House. (X/@AlboMP) Even ...
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28Jul By AdminsNo Comments

Australia faces nervous wait as Trump’s tariff deadline looms

Australia is no closer to learning whether it will be hit by a higher tariff by the United States, despite President Donald Trump saying he'll be handing down fresh duties later this week. The so-called "reciprocal" tariffs were paused for 90 days, and the White House has recently announced deals with a slew of partners, including the UK, China, Vietnam, Indonesia, the Philippines, Japan and, as of this morning, the European Union. However, an Australian deal is yet to be announced ahead of the pause expiring on Friday. Donald Trump's tariffs have caused uncertainty in financial markets. (Getty) Australia is currently subject to a baseline 10 per cent tariff, but what that figure will be as of Friday is unclear. Trump said last week he would be sending out lett...
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28Jul By AdminsNo Comments

‘Biggest deal ever’: Trump announces trade agreement with EU

US President Donald Trump has announced that the US and the European Union reached a framework for a trade deal, after talks with European Commission President Ursula von der Leyen in Turnberry, Scotland. Trump announced a 15 per cent across-the-board levy on imports from the 27-nation European Union, ending a months-long saga with America's largest trading partner as the EU sought to keep baseline tariffs at 10 per cent. "We are agreeing that the tariff straight across for automobiles and everything else will be a straight-across tariff of 15 per cent," Trump said. European Commission President Ursula von der Leyen and US President Donald Trump have announced the framework for a trade agreement. (AP) Speaking alongside von der Leyen, the president said the EU "is g...
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23Jul By AdminsNo Comments

Trump announces trade deal with Japan that lowers threatened tariff to 15 per cent

US President Donald Trump has announced a trade framework with Japan, placing a 15 per cent tax on goods imported from that nation. “This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,” Trump posted on Truth Social, adding that the United States “will continue to always have a great relationship with the Country of Japan.” The president said Japan would invest “at my direction” $US550 billion ($838 billion) into the US and would “open” its economy to American autos and rice. Trump claims that the deal will create "Hundreds of Thousands of Jobs" (AP Photo/Alex Brandon) The 15 per cent tax on imported Japanese goods is a meaningful drop from the 25 per cent rate that Trump, in a recent letter to Japanese Prime Minister Sh...
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17Jul By AdminsNo Comments

Trump hints at timeline for tariffs on $1.6 billion of Aussie exports

US President Donald Trump has said he will "probably" impose tariffs on pharmaceutical drug imports from the end of July. Speaking to reporters today, Trump said he would start out at a lower tariff rate and give companies a year to build domestic factories before they face higher import tax rates. He said this could come into effect "at the end of the month". Donald Trump has said he will "probably" impose tariffs on pharmaceutical imports at the end of July. (AP) Australian exports to the US are already subject to a 10 per cent tariff, with Trump recently saying that could rise to 15 or 20 per cent by August 1. But now it appears pharmaceutical exports could come in for special attention. Trump previously said tariffs on pharmaceuticals could climb as hi...
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