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‘Makes sense': Why Australia scored a lower 10 per cent tariff from the US

‘Makes sense': Why Australia scored a lower 10 per cent tariff from the US

Sky News AUa day ago
MacroBusiness Chief Economist Leith Van Onselen says the federal government can take some credit for avoiding tension with the Trump administration, however, argues Australia's lower 10 per cent tariff is more about economics.
'The government can claim credit for not antagonising the Trump administration,' Mr Van Onselen told Sky News Australia.
'The reality is the lower base line tariff of 10 per cent that's been applied to Australia makes sense because we are one of the few countries that has a very large trade deficit with the United states, we import double the amount we export to the United States.
'The trade relationship with the US is very heavily weighted in the Americans favor and I think this is why we got the lower 10 per cent tariff.'
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