{"id":49758,"date":"2025-08-07T06:45:09","date_gmt":"2025-08-07T06:45:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/49758\/"},"modified":"2025-08-07T06:45:09","modified_gmt":"2025-08-07T06:45:09","slug":"australian-news-and-politics-fears-over-affordable-medicines-as-donald-trump-tariffs-hit-dozens-of-countries","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/49758\/","title":{"rendered":"Australian news and politics: Fears over affordable medicines as Donald Trump tariffs hit dozens of countries"},"content":{"rendered":"<p class=\"css-9czhig-StyledParagraph e4e0a020\">Eight major trading partners accounting for about 40 per cent of US trade flows have reached framework deals for trade and investment concessions to Donald Trump, including the European Union, Japan and South Korea, reducing their base tariff rates to 15 per cent.<\/p>\n<p class=\"css-9czhig-StyledParagraph e4e0a020\">Britain and Australia won a 10 per cent rate, while Vietnam, Indonesia, Pakistan and the Philippines secured rate reductions to 19 per cent or 20 per cent.<\/p>\n<p class=\"css-9czhig-StyledParagraph e4e0a020\">\u201cFor those countries, it\u2019s less-bad news,\u201d said William Reinsch, a senior fellow and trade expert at the Center for Strategic and International Studies in Washington.<\/p>\n<p class=\"css-9czhig-StyledParagraph e4e0a020\">\u201cThere\u2019ll be some supply chain rearrangement. There\u2019ll be a new equilibrium. Prices here will go up, but it\u2019ll take a while for that to show up in a major way,\u201d Reinsch said.<\/p>\n<p class=\"css-9czhig-StyledParagraph e4e0a020\">Nations with punishingly high duties, such as India and Canada, \u201cwill continue to scramble around trying to fix this\u201d, he added.<\/p>\n<p class=\"css-9czhig-StyledParagraph e4e0a020\">with Reuters<\/p>\n","protected":false},"excerpt":{"rendered":"Eight major trading partners accounting for about 40 per cent of US trade flows have reached framework deals&hellip;\n","protected":false},"author":2,"featured_media":49759,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[64,63,44,84],"class_list":["post-49758","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australia","tag-au","tag-australia","tag-news","tag-politics"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/49758","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=49758"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/49758\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/49759"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=49758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=49758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=49758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}