US President Donald Trump announced a 10 per cent tariff for Australian goods exported to the United States on April 3, 2025.
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00:00Australia rakes in billions by exporting goods to the US, but Trump's new 10% Liberation Day tariff could hit some Aussie industries hard.
00:12Australia bans, and they're wonderful people and wonderful everything, but they ban American beef, yet we imported $3 billion of Australian beef from them just last year alone.
00:25Beef is our biggest export to the US, with shipments worth $6.1 billion last year.
00:33They won't take any of our beef, they don't want it because they don't want it to affect their farmers, and you know what, I don't blame them.
00:39Precious stones, metals and pearls came in second at $3 billion, while pharmaceuticals followed in third place at $2.1 billion.
00:49We will establish a minimum baseline tariff of 10%, you notice that on the chart, and that'll be on other countries to help rebuild our economy and to prevent cheating.
01:00Many foreign leaders and trade ministers, including our own Prime Minister, have rebuked the tariffs, and called for countries to stand up for free trade and international cooperation.
01:13For Australia, these tariffs are not unexpected, but let me be clear, they are totally unwarranted.
01:20President Trump referred to reciprocal tariffs. A reciprocal tariff would be zero, not 10%.