Australia has avoided a steep tariff increase under a new executive order signed by US President Donald Trump, which has revised reciprocal trade tariffs for multiple countries.
In a statement released by the White House on Thursday night (US time), President Trump announced new tariff measures aimed at tackling what he called “exploding” US trade deficits.
Several countries now face base rates above 10%, with some, like New Zealand, unexpectedly shifted to a 15% tariff.
Australia, however, is not among the nations listed in Annex I of the order – meaning it will continue to be subject to the lowest tariff rate of 10%, alongside countries like Britain and Brazil.
The White House stated that the move was part of the President’s broader strategy to “secure fair, balanced, and reciprocal trade relationships,” while reinforcing national and economic security.
“President Trump has reset decades of failed trade policy… taking back America’s economic sovereignty,” the statement said.
The executive order follows months of negotiations, with some countries failing to meet US demands for more favourable trade or security terms. Others, such as the EU and Japan, have secured deals involving large-scale investments in the US – but at the cost of accepting higher base tariffs.
Source: news.com.au
