RBA holds interest rates; Erin Patterson verdict finds mushroom chef guilty; new Trump tariffs revealed
The press conference has now turned into wider issues such as US tariffs.
Chalmers was asked whether the uncertainty surrounding these trade barriers has played a role in today’s RBA decision.
Treasurer Jim Chalmers at today’s press conference. Credit: Agony
Here is to say:
In the Reserve Bank statement, you can see that global uncertainty is currently one of the descriptive effects on our economy. And I think this will be the main thing that shaped our elections as a government in this second period. The international environment is very unpredictable, very variable and the Board of Reserve Bank has revealed this view very clearly.
The treasurer was later asked how new tariffs in countries such as Japan and South Korea could affect Australia.
This was Chalmers’s answer:
First of all, there is no change in the US approach to Australia. We are still exposed to the lowest base line ratio of 10 percent. Now, we have made it clear that we think these tariffs are bad for the US, bad for Australia and bad for global economy.
And this is one of the things we are most worried about, in addition to the effect on our own workers and industries and employers, whether Korea, Japan and other places, on the global demand.
That is why, at every opportunity, in case of unfair tariffs -[and[Free-FreeContestationshouldbegivenuptothedignity[TheyhouldberemaMovenlinewithourfreetradenendantandthatthesetariffsereciprocaltariffsshouldbezero[ve[serbestticaretanlaşmamızdoğrultusundakaldırılmalıdırlarVebutarifelerinbukarşılıklıtarifelerinsıfırolmasıgerektiği[and[theyshouldberemovedinlinewithourfreetradeagreementAndthatthesetariffsthesereciprocaltariffsshouldbezero
In the early hours of today, Prime Minister Anthony Albanian insisted that he did not stop negotiating with President Donald Trump for a decrease in tariffs on Australian goods imported to the USA.
While promising to fight for a discount, the Prime Minister admitted that no country has a better agreement than Australia ”.
“Australia has a 10 percent tariff ratio, at least as low as any country in the world.”
