Local stocks have reversed and the Australian dollar is near a seven-month low as the incoming US president pledges a 25 per cent tariff on all products from Mexico and Canada. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Local stocks have reversed and the Australian dollar is near a seven-month low as the incoming US president Donald Trump pledges a 25 per cent tariff on all products from Mexico and Canada, and an extra 10 per cent tariff on China.
"Hockey is a golf buddy of Trump's — Rudd is widely respected and they're, in a funny way a good team." "The other interesting thing is he's laid out his reasons for the tariffs so it looks like these tariffs are conditional on those. Whilst this is the opening salvo, maybe this is just the beginning of the deals he's well known for.""I'm just trying to reconcile how it works with the appointment of Bessent. People have been expecting him to be a more moderate voice.
"But with the Canadian dollar rising against the Mexican peso, markets are assuming this will hit Mexico the hardest." most of them foreign students on visas from China and Taiwan, too afraid to speak up for fear of being deported because they had breached their visa conditions and worked extra hours per week to survive on the small hourly wage rate.
– including 41 junior workers aged below 21 and 95 visa holders – being underpaid a total of $162,533.Fair Work Ombudsman Anna Booth said any workers, including visa holders, who have concerns about their pay or entitlements should contact the FWO. “Any workers, including visa holders, with concerns about their pay or entitlements should contact us," she said."In his judgment, Judge Nicholas Manousaridis rejected Chatime Australia’s submission that the contraventions should not fall into the category of being either “serious” or “substantial”, and found that the matter involved a large number of employees who were underpaid basic Award entitlements.
"On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders"Trump said the tariffs would remain in place until the two countries clamp down on drugs, particularly fentanyl, and migrants crossing the border illegally.
ANZ economist, Sophia Angala, said the index fell 1.1 points last week, but has "remained within the relatively narrow range of 82-88 since mid-August". What might happen under Trump? This is what an un-named RBA analyst or department thought, in documents released through FOI.Under the heading "Implications of a Republican sweep for financial conditions in Australia" we get the RBA analyst's view of what might happen.However, weaker Chinese growth will have relatively strong negative implications for Australia
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