~ by Alan Dupont. Originally published in The Australian on 12th March, 2025.
Despite a relief surge in global markets on Thursday AEST triggered by Donald Trump’s unexpected 90-day tariff pause on “those who don’t retaliate”, the US President’s Liberation Day tariffs presage the most sweeping structural and normative change in the international trading system since 1945.
This was underscored by the imposition of a staggering 145 per cent tariff on imports from China, our major trading partner, sending US-China ties into a deep freeze and bringing a halt to most bilateral trade. Absent stimulus measures, this could cut China’s growth in half and have severe knock-on effects for the Australian and world economies.
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