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Topic:Government and Politics
Modelling from the federal Treasury suggests Donald Trump's tariffs on steel and aluminium will have only a modest impact on the Australian economy.
Follow all the updates in our live blog.
By Courtney Gould
US President Donald Trump is pushing ahead with plans to introduce a new wave of tariffs on trading partners in early April, and there are concerns other industries such as beef and pharmaceuticals could be caught in the crosshairs.
Trade Minister Don Farrell insisted on the weekend he would be making Trump an "offer he can't refuse", once he works out what the Americans want.
So what is that offer? Social Services Amanda Rishworth wouldn't give anything away when asked on the Today Show this morning.
"Well, we will keep working as much as we can to secure a good outcomes for Australia's producers. But let's be clear tariffs are a self-imposed own goal on Americans," she said.
Tasmanian independent Jacqui Lambie, who was also on the panel, said she wasn't convinced a deal could be struck.
"I think it will cost us more in the long run," she said.
Lambie described the situation, especially if Trump slaps major tariffs on China, as "really scary".
"You just don't know what he's doing from from from breakfast to lunch," she said.
By Courtney Gould
Modelling from the federal Treasury suggests new American tariffs on steel and aluminium will have only a modest impact on the Australian economy.
Treasurer Jim Chalmers will use a speech today to argue the tariffs are both "senseless and wrong".
But he says the analysis suggests the direct impact will only be0.02 per cent hit to GDP.
It found a broader trade war to be a much greater risk to economic growth.
By Tom Crowley
Treasurer Jim Chalmers will use a speech today to say Australia “deserves better” from its allies the United States than the tariffs recently imposed on steel and aluminium.
He will tell the Queensland Media Club the tariffs are “disappointing, unnecessary, senseless and wrong … self-defeating and self-sabotaging.”
It’s not dissimilar to what other ministers have said, but it’s stronger language than we heard from the PM.
Chalmers will repeat the government’s pledge not to retaliate with more tariffs, saying this would be a "race to the bottom".
By Courtney Gould
Hiya pals.
Welcome to another day on the politics blog. What's on the menu today? Treasurer Jim Chalmers will be give us a little bit of a forward sizzle on the budget in a speech to the Queensland Media Club today (more on that in a moment). Elsewhere, expect there to be more reaction to the latest allegations of criminal activity linked to the embattled CFMEU.
Courtney Gould here to guide you through the day. Are you ready for it?
Topic:Child Care
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