Trump hikes tariffs on Australia to 12.5%

The Trump administration has increased tariffs on Australian exports to the United States from 10 per cent to 12.5 per cent, citing modern slavery concerns. Australia faces the highest tariff rate among 60 affected countries, though beef, gold and copper remain duty-free. Despite the trade tensions, the Albanese government has announced $4.8 billion in funding for the Osborne shipyard in Adelaide, where five AUKUS submarines will be built.See omnystudio.com/listener for privacy information.