Treasurer Says Australia Not Immune to Potential Trump Tariffs, But Confident Country Can Prosper

Any import tariffs imposed by an incoming Trump administration could have a negative impact on Australia, Treasurer Jim Chalmers in a speech on Nov. 11 at the Australian Institute of International Affairs (AIIA). The incoming president has said he intends to place tariffs of 10 percent on all imported goods, with up to 60 percent and 100 percent imposed on imports from China and Mexico respectively. The electoral victory of President-elect Trump has sent world leaders and media outlets into a tailspin about the impacts of possible changes to trade rules. In Australia, the government said it had planned for the possibility with the long-term outcomes favouring the country....