Australians getting triggered over Trumps tariffs on Australia need to see some perspective. - We don’t pay the tariff- The Steel and Aluminium manufacturers are majority (about 70% overall) foreign owned- Of our exports, only 10% go to the US- That value is $327m (steel) and $317m (aluminium) in USD- In terms of total exports from Australia, this represents just 0.2%- US Importers, not Australia will pay those import tariffs, which equate to $5 (steel) and $79m (aluminium) in USD- the US would have to massively ramp up domestic supply or reduce demand in order to stop our exports- BlueScope is also based in the US, much of the export product from Australia goes to their US operations. - Albo blows more than the combined total of those tariffs in each of his shonky ideas ($600m for PNG footy, $700m for ‘The Voice’ etc etc)On the other hand, Australian Government taxes and Emissions Schemes have loaded up our input costs FAR BEYOND any tariff the US has imposed on themselves. Albo could have done a deal with Trump for nil tariffs through our Coal & Uranium exports and oil imports. Instead Albo sought an exemption and put nothing on the table. Trump, has since declined any calls from Albo.
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Australians getting triggered over Trumps tariffs on Australia...
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