‘Obsession' with Trump's tariffs overshadows the ‘greater' cost of renewables
IPA Senior Fellow and Chief Economist Adam Creighton discusses the cost of Labor's net-zero goals comparatively to the recently implemented Trump tariffs.
'There is this obsession with Trump's tariffs, and it's only ten per cent on Australia, and we don't export much to the US in the first place, so actually, the cost to Australia will be quite small,' Mr Creighton told Sky News host Sharri Markson.
'We also have this thing in Australia called the Safeguard Mechanism where the 200 biggest so-called polluters they have to drastically reduce their emissions by 2030, and some of them will shut down.
'Effectively, it's a carbon tax by stealth … it's quite likely that the ultimate cost of the Safeguard Mechanism will be greater than the tariffs direct impact on Australia.
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