Markets and local business leaders were sure Trump’s tariffs threats were a negotiating tactic. A serious rethink is suddenly needed, especially Down Under.
At any other time, there’d be something faintly amusing about the fact the market has been apparently caught by surprise after the first salvo in a tariff war Donald Trump has been promising to fire for more than a year.
But this is very serious – and it’s particularly serious for Australia, which would be badly exposed to a tit-for-tat battle between the US and China.
Source: https://www.afr.com/chanticleer/australia-risks-worst-of-both-worlds-in-trump-tariff-war-20250202-p5l8yh