The Australia-US FTA is completely worthless

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Trade Minister Don Farrell says the US government’s decision to impose a new tariff on imports from Australia is “completely unjustified” and a breach of the free-trade agreement between the two nations.

Australia is one of 60 nations that will incur a 12.5% tariff after the Trump administration accused them of failing to do enough to address the issue of forced labour in their supply chains. Yet, a number of countries that are known to use forced labour will remain subject to the existing tariff of 10%.

“This imposition of higher tariffs on Australia is completely unjustified, and we will continue to lobby the United States Trade Representative to remove all tariffs on Australian goods”, Farrell said.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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