Prime minister to speak to US president amid growing tariff threat. Follow today’s news live
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Businesses are concerned Australian jobs and living standards are under threat from tariffs threatened by Donald Trump, Australian Associated Press reports.
With prime minister, Anthony Albanese, already scheduled to speak to Trump later today Minerals Council of Australia chief executive Tania Constable said the proposed tariffs “set a concerning precedent”.
It may be that Trump is determined to impose this tariff on every country no matter what. And, you know, in which case, it won’t be possible to secure an exemption. All the Australian prime minister can do is use all of his advocacy skills, and play a straight bat, and defend the Australian national interest.
He [Trump] doesn’t believe in comparative advantage. He believes if a country has a deficit, a trade deficit, it’s a loser. If it has a trade surplus, it’s a winner. It’s economic nonsense obviously. And but he’s believed it and he’s believed it for decades.
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