Wednesday, July 30

Tag: tariffs

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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11Jul By AdminsNo Comments

Trump promised 200 deals by now. He’s got three, and one more is getting very close

At the conclusion of his first 100 days in office in late April, US President Donald Trump made a stunning statement about his progress on tariff negotiations: He had completed trade deals with 200 countries. More than two months later, Trump has announced just three of those agreements – with China, the United Kingdom and Vietnam. So what happened? President Donald Trump speaks to members of the press during a Cabinet Meeting at the White House on July 8. (Andrew Harnik/Getty Images via CNN Newsource) Wednesday marked the day that Trump had set three months ago as a deadline for all countries to reach a deal or face higher "reciprocal" tariffs. Trump has since publicly acknowledged that pausing those "Liberation Day" tariffs until July 9 left insufficient time...
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11Jul By AdminsNo Comments

Trump threatens 35 per cent tariffs on Canada, Australia’s could double

US President Donald Trump has threatened a 35 per cent tariff on goods imported from Canada, a dramatic escalation in an on-again, off-again trade war with America's northern neighbour and one of its most important trading partners. "Starting August 1, 2025, we will charge Canada a Tariff of 35 per cent on Canadian products sent into the United States, separate from all Sectoral Tariffs," Trump wrote in a letter posted to social media. NBC News also reported Thursday that Trump told Meet the Press moderator Kristen Welker that the remaining US trading partners that have not yet received trade letters or reached framework agreements will be charged a blanket tariff rate. President Donald Trump has pledged a 35 per cent tariff on Canadian imports to the US. (AP) The let...
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