Among the reciprocal tariff levels Trump announced:
China: 34%
European Union: 20%
South Korea: 25%
India: 26%
Vietnam: 46%
Taiwan: 32%
Japan: 24%
Thailand: 36%
Switzerland: 31%
Indonesia: 32%
Malaysia: 24%
Cambodia: 49%
United Kingdom: 10%
Rest of the world: 10%
Just trying to understand the Australian perspective on this. Maybe others can correct me.
He’s using the term “reciprocal” as a way of saying certain practices are unfair.
For example, we refuse to import raw meat products because we don’t have mad cow disease here.
We also don’t have american style healthcare, so pharmaceuticals can’t be advertised and are purchased exclusively through the federal government procurement scheme.
In response, he’s applying a 10% tariff on any Imports from Australia. I assume this is in addition to the aluminium and iron ore tariffs but I’m not sure.
We have a federal election coming up so the opinions of both major parties are relevant. Our current progressive PM says it will hurt the US more than us, that we’re not going to respond with tariffs on US products, and we do have legal recourse through our existing free trade agreement.
From here it’s hard to see this as anything other than a huge self-own by the Trump Administration. We just don’t export a lot of stuff to the US, our stock market has responded positively since the announcement. I would be absolutely gutted if the Australian government made any concessions what so ever, and I don’t think I’m alone in that. We have our fair share of MAGA idiots down under, but even they are nationalists, with families. No one here has any interest in letting Trump fuck with our health care system just so Americans pay less in tariffs.