Australia holds onto 10 per cent tariff rate from the US
The Australian government has secured rare certainty, locking in a 10 per cent tariff rate from the US.
Countries who failed to strike a deal with Washington ahead of the negotiation deadline are facing significant tariffs, such as India and Taiwan, which received levies of 20 per cent and above.
Israel, Japan, and the EU have been slapped with a 15 per cent tariff rate.
The government maintains it doesn't want to stop here, arguing Australia should be trading under a reciprocal rate of zero.
Tariffs are likely to disrupt global supply chains, leading to less spending, particularly on investment.
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