Australia’s record gold exports to US set back its case for tariff relief as Trump trade war looms
Industries across the country are bracing for the impact of the Trump administration’s worldwide tariff regime
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A run on gold in America – fanned by fears of a global trade war – has given Australia its first trade surplus with the US in decades, undermining the government’s key argument for exemption from Donald Trump’s impending global tariff regime.
Australia expects to be included in a comprehensive global tariff regime of 25% on aluminium and steel imports from Wednesday, but which is set to expand to other sectors, such as agriculture and pharmaceuticals, in coming months.
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