Trump tariffs 'hurting investment and jobs', businesses warn
Tariffs of 10 and 12.5 per cent will be on imports from 59 other economies, which represent all of the US's major trading partners.As the economics team at Westpac wrote in a note to investors, it probably does not change things. But the injection of uncertainty could slow the US economy."This measure replaces the temporary 10% tariff set to expire at 12:00am.
- ▪Tariffs of 10 and 12.5 per cent will be on imports from 59 other economies, which represent all of the US's major trading partners.As the economics team at Westpac wrote in a note to investors, it probably does not change things.
- ▪But the injection of uncertainty could slow the US economy."This measure replaces the temporary 10% tariff set to expire at 12:00am.
ABC News (Australia) publishes from Australia and files mainly under world. We currently carry 1,168 of its stories.
Opening excerpt (first ~120 words) tap to expand
Trump tariffs bring more uncertainty to Australia's shoresBy business reporters Daniel Ziffer and Emilia Terzon.Topic:TariffsPosted Fri 24 Jul 2026 at 4:04pmFri 24 Jul 2026 at 4:04pmFri 24 Jul 2026 at 4:04pmGetting goods into the US will become 12.5 per cent more expensive for Australian exporters, as new tariffs replace ones struck out by the Supreme Court. (Reuters: US TODAY Sports/Joe Nicholson)In short:The US has placed a 12.5 per cent tariff on Australian exports to the US, blaming Australia's failure to enforce laws banning goods made by forced labour.A temporary 10 per cent tariff has expired, meaning Australian exporters will be paying a further 2.5 per cent.What's next?The Australian government says it will continue to lobby against the tariffs on Australian…
Excerpt limited to ~120 words for fair-use compliance. The full article is at ABC News (Australia).