Australia has escaped steep tariff hikes from the United States, thanks to what Labor Trade Minister Don Farrell called Prime Minister Anthony Albanese’s “cool and calm” diplomacy.
On Aug. 1, U.S. President Donald Trump released a list of updated tariffs on countries worldwide after considering issues like the “lack of reciprocity” in bilateral trade relationships, and the impact of “tariff rates and non-tariff barriers” on U.S. exports.
The president said the move was also guided by issues like national security, how trade negotiations were progressing, and efforts by other countries to retaliate.
Amid the fallout, Australia’s tariff rate remained unchanged on the baseline 10 percent, while neighbouring countries like New Zealand saw tariffs increased to 15 percent. Canada and others faced even steeper increases….