Donald Trump's commitment to imposing import tariffs could majorly impact Australian wine and red meat sectors.
Farmers are keeping a close eye on US president-elect Donald Trump's commitment to impose tariffs on imports. Australia's red meat and wine sectors could cop the most heat from Donald Trump's proposed tariffs on imports. Trump campaigned for the US presidency on introducing tariffs of between 10 to 20 per cent on products from other countries, along with 60 per cent on goods from China.
"But while trade conditions are expected to remain generally favourable, volatility across markets more broadly remains a concern," the bank's industry affairs senior manager Neil Burgess said. Cattle, sheep, dairy, cropping and horticulture production were all strong, while the wool industry would remain in a holding pattern until economic conditions could improve consumer spending.
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