After a fortnight in the White House, Donald Trump has fired off the big cannon, with tariffs on China, Canada and Mexico. And like it or not, Australia won't be spared from the impacts.
If there's one thing financiers and most big investors were banking on, it was that Donald Trump would create far more noise than waves.
In both cases, he has accused his neighbours of facilitating America's crippling wave of fentanyl addiction and death even though theUS President Donald Trump has cited a need to stop fentanyl flowing into the country as a reason for new tariffs against Mexico, Canada and China. Will it work?China seemed to get off reasonably lightly, with just a 10 per cent impost, while India escaped punishment altogether — indicating the tariffs had little, if anything, to do with the drug trade.
Government ministers, meanwhile, continue to point out that America has run a trade surplus with Australia for decades.For a start, the new US president seems to hold little store in old allegiances. Plus, you'd be naive to believe that the 10 per cent charge slapped on China is anything other than an opening salvo.
If they don't pass on the extra costs, their profits will be squeezed, leaving them little option but to look for alternative supplies. Failing that, they will attempt to recoup losses, which will slow demand at home and in China.
Donald Trump Usa America Trump Tariffs Tariffs Inflation Us Reserve Bank Oil Financial Markets China Beijing Trade Iron Ore Exports Imports
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia Battles Bushfires, Trump Reacts to Chinese AI, and Cricket NSW Trains China's TeamAustralia grapples with six out-of-control bushfires in Victoria, fueled by heatwave conditions. President Trump views the rise of Chinese AI, DeepSeek, as a wake-up call for American companies. Meanwhile, Cricket New South Wales partners with the Chinese Cricket Association to train their national team for the 2028 Olympics.
Read more »
Deep impact: China’s AI tidal wave hits Trump, and AustraliaThe cheap, open AI model has sent shockwaves through Silicon Valley. Has Australia already been left behind or does DeepSeek’s rapid rise, despite limited resources, mean something similar could emerge locally?
Read more »
Why this Aussie billionaire welcomes Trump’s China tariff threatIt’s more important now than ever for retailer Solomon Lew to get the best manufacturing deals. He thinks Donald Trump’s trade policies might help.
Read more »
Why this Aussie billionaire welcomes Trump’s China tariff threatIt’s more important now than ever for retailer Solomon Lew to get the best manufacturing deals. He thinks Donald Trump’s trade policies might help.
Read more »
Why this Aussie billionaire welcomes Trump’s China tariff threatIt’s more important now than ever for retailer Solomon Lew to get the best manufacturing deals. He thinks Donald Trump’s trade policies might help.
Read more »
Trump inauguration live updates: Trump won’t rush to impose tariffs on China, Canada, Mexico“We will be the envy of every nation, and we will not allow ourselves to be taken advantage of any longer,” Trump said in a speech. Follow updates here.
Read more »