Listen to the bloke with a big pencil
Reposted from
The Australia Institute
It's tariff time! @grogsgamut.bsky.social explains how they work. #auspol
Comments
It stands out like dogs nuts!
He think imports are bad, and he also hopes leaders will come to him and beg.
This will hurt Chinese GDP and their production so they will need less of Australian resources and in particular iron ore which is key to Australian economic strength. Both iron prices and iron ore sales will go down.
Are new markets readily available to circumvent these US restrictions ?
https://tradingeconomics.com/australia/exports/united-states
That just means as an Australian business you potentially pay in import tax, and then exporting to the US there's an import tax, so would be double
You have to go through the process of proving where something was made to avoid tarrifs anyway
In the meantime, countries set up new trade agreements excluding America