Donald Trump says the minimum tariff imposed on the US’s trading partners, including Australia, could soon double.<\/p>\n
Speaking at a press conference in Scotland, the US president said he was planning a new tariff “for the world”.<\/p>\n
Asked how high it would be, he said: “I would say it’ll be somewhere in the 15 to 20 per cent range.<\/p>\n
“I just want to be nice,” he said. “Probably one of those two numbers.”<\/p>\n
Most of the US’s trading partners, including Australia, are currently subject to America’s 10 per cent “baseline” tariff.<\/p>\n
Mr Trump announced higher “reciprocal” tariffs for many countries in April. However, they are not in effect because Mr Trump paused them to allow time to negotiate new trade deals.<\/p>\n
Australia was not hit with a higher “reciprocal” tariff. But Mr Trump’s comments in Scotland suggest Australian exports could be hit with the new, higher world tariff.<\/p>\n
“We’re going to be setting a tariff for, essentially, the rest of the world,” he said. “That’s what they’re going to pay if they want to do business in the United States, because you can’t sit down and make 200 deals.”<\/p>\n
The ABC has requested further details from the Trump administration but has not yet received a response.<\/p>\n
In a statement, a spokesperson for Trade Minister Don Farrell said: “Our position is unchanged \u2014 any tariffs on Australian goods are unjustified and an act of economic self-harm.”<\/p>\n
“We will continue to engage at all levels to advocate for the removal of all tariffs, in line with our free trade agreement with the United States,” they said.<\/p>\n
A looming deadline<\/p>\n
The pause on Mr Trump’s reciprocal tariffs is due to expire on Friday. Earlier this month, he wrote to the leaders of more than 20 countries, informing them of new tariffs.<\/p>\n
Before Mr Trump announced his sweeping tariff plans on “Liberation Day” in April, Australia had been trying to negotiate an exemption from tariffs.<\/p>\n
Prime Minister Anthony Albanese has said the Australia\u2013US free trade agreement, and Australia’s longstanding trade deficit with the US, means there should be no tariff on Australian imports.<\/p>\n
But the US has taken issue with what it calls “non-tariff barriers” to trade with Australia.<\/p>\n
They include requirements for social media platforms to pay Australian media outlets for news content, and the Pharmaceutical Benefits Scheme that requires drug-makers to negotiate prices with the government rather than individual buyers.<\/p>\n
Why European leaders are unhappy with the US-EU trade deal<\/a><\/p>\n The European Union is defending the trade deal it has struck with the US, after a mixed reaction from the leaders of several major economies.<\/p>\n In his April tariffs announcement, Mr Trump also criticised biosecurity controls that blocked the sale of American beef to Australia. Last week, the Australian government said it was lifting those restrictions<\/a>.<\/p>\n On Sunday, the US and the European Union announced a “framework” agreement<\/a> that meant the EU’s exports to the US would be subject to a 15 per cent tariff.<\/p>\n Earlier, Mr Trump had threatened the EU with a 30 per cent tariff.<\/p>\n Mr Trump flagged the new worldwide tariff at a joint press conference with British Prime Minister Keir Starmer on Monday.<\/p>\n The UK and US announced an agreement in May<\/a> that locked in the 10 per cent baseline tariff for British imports, but provided exemptions for British steel and beef.<\/p>\n The US has also recently announced agreements with several other nations, including Japan<\/a>, Indonesia<\/a> and Vietnam<\/a>.<\/p>\n Only headline details about the agreements have been released, and they are subject to further negotiation.<\/p>\n","protected":false},"excerpt":{"rendered":"Donald Trump says the minimum tariff imposed on the US’s trading partners, including Australia, could soon double. Speaking…\n","protected":false},"author":2,"featured_media":29819,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[28339,28340,2095,64,63,28337,99,7136,13885,164,28338,9355,576,3281,2957,19542],"class_list":["post-29818","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-28339","tag-28340","tag-america","tag-au","tag-australia","tag-baseline","tag-business","tag-deal","tag-donald","tag-economy","tag-reciprocal","tag-tariff","tag-trade","tag-trump","tag-usa","tag-white-house"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/29818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=29818"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/29818\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/29819"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=29818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=29818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=29818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}