US President Donald Trump has slapped new tariffs on Australia “effective immediately” in a move that is set to send the price of his beloved McDonald’s cheeseburger soaring.
Senior government sources have confirmed they are now expecting a 10 per cent tariff on all Australian exports.
However, Mr Trump has signalled tougher barriers for Aussie beef without providing specific details.
“We are expecting 10 per cent across the board unless the executive orders say otherwise,” a government source said.
Meat is Australia’s largest export to the US, accounting for roughly USD$4 billion in 2024. Precious stones and metals drew in $2 billion last year with pharmaceutical products ($1.4b), optical and medical apparatus ($1.2b) and heavy machinery ($1b) all key exports too.
Countries targeted by the Trump administration’s tariffs can be said to be taking two different approaches to pushing back — softly, softly on the one hand, and active resistance on the other.
While the PM is using relatively strong language to criticise the changes, Australia can be safely said to fall in the former camp, by refusing to impose reciprocal tariffs and by (so far) preferring to lobby the US directly for a carve-out rather than taking action through the WTO.
Canada, on the other hand, is leading the way in fighting back aggressively.
Prime Minister Mark Carney has called a cabinet meeting to determine his government’s response to Trump’s latest announcement, but he’s already confirmed the US’s northern neighbour will be imposing more countermeasures.
Farmers would rather have a 10% tariff on their beef to the USA a smaller market for us than have their rubbish beef coming into Australia with disease. The media is spending too much time on this rubbish. Screw trump and the USA.