The Forum > General Discussion > Tariffs on imported products is the new normal
Tariffs on imported products is the new normal
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During his first presidential term, Trump exempted Australia from U.S. tariffs on steel and aluminium. Not this time around. The White House announced that the previously planned 25% tariffs on all imported steel and aluminium products into the U.S. from all countries would take effect on Wednesday, 12.03.2025.
Anthony Albanese said the decision by the Trump administration was "entirely unjustified ... and against the spirit of our two nations' enduring friendship and fundamentally at odds with the benefit of our economic partnership."
However, he said imposing reciprocal tariffs on the U.S. would only raise prices for Australian consumers and spur inflation.
That’s only partly true. It could also dissuade Australian consumers from buying US products to which we apply tariffs. Why not apply them to products we would be better off not consuming, such as soft drinks for example ?
Today, the US has unilaterally decided to impose a 25% tariff on steel and aluminium. Tomorrow, it could decide to impose similar tariffs on other products. For that reason alone, we should reciprocate in like fashion as a dissuasive measure.
It is important that the principles of fair trade be respected — especially among friendly nations.
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