Australian Exports at Risk as Trump Hints Tariff Hike

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US President Donald Trump has just hinted that new tariffs could be on the way, possibly as high as 20 per cent. The current 10 per cent tariff — which already applies to Australia and many other nations — has been in a 90-day pause, but that’s set to expire on August 1.

Speaking at a press conference in Scotland, Trump said the new rate would likely be higher.

“I would say it’ll be somewhere in the 15 to 20 per cent range,” he said.“I just want to be nice — [it will] probably one of those two numbers.”

During the pause, the US made trade deals with countries like the UK, China, and the European Union. But for those who haven’t struck a deal — like Australia — the new tariffs could soon kick in.

“We’re going to be setting a tariff for, essentially, the rest of the world,” Trump added.“You can’t sit down and make 200 deals.”

Australia hasn’t signed a new deal with the US recently, but both countries are already tied into a free trade agreement. Still, that hasn’t stopped the US from slapping tariffs on Australian exports.

The Australian Government isn’t happy.

“Our position is unchanged — any tariffs on Australian goods are unjustified and an act of economic self-harm,” a spokesperson for Trade Minister Don Farrell said.“We will continue to engage at all levels to advocate for the removal of all tariffs, in line with our free trade agreement.”

So what happens next? We’ll find out soon. But for now, Aussie exporters may need to brace for higher costs and tougher trade conditions in one of their biggest markets.

Stay tuned with Aus News Lanka – the leading platform for news for Australians.