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Trump imposes 25% tariffs on Australian steel, aluminium

Trump imposes 25% tariffs on Australian steel and aluminium, causing a significant slump in the Aussie sharemarket.

Published

10 months ago

February 10, 2025

ticker NEWS

Trump imposes 25% tariffs on Australian steel and aluminium, causing a significant slump in the Aussie sharemarket.

In Short

US President Trump has imposed a 25% tariff on Australian steel and aluminium, causing an immediate $15 billion loss in the Australian sharemarket. Political leaders are urging the government to negotiate with the US to minimise the economic impact and inflationary effects of these tariffs.

US President Donald Trump has announced a 25 per cent tariff on Australian steel and aluminium exports.

This decision has caused a significant downturn in the Australian sharemarket, with an estimated loss of $15 billion in the first hour of trading following the announcement.

The tariffs will affect major Australian companies, including Rio Tinto, as the US imported approximately $638 million worth of Australian steel in 2024.

President Trump stated that the tariffs would apply to all countries, making no exceptions, thus escalating tensions in international trade.

A tariff results in increased costs for US buyers, likely reducing demand for Australian exports and disrupting global supply chains.

Economists caution that this move reflects Trump’s “America First” trade doctrine, potentially impacting the broader economy.

In addition, Australian businesses, such as Crusader Caravans, may reconsider their market strategies if tariffs are imposed, as it raises costs and complicates supply chains.

Time to negotiate

Political leaders, including Nationals Leader David Littleproud, have urged the Labor government to negotiate with the US to mitigate the impact of the tariffs, advocating for a rules-based trade order.

Prime Minister Anthony Albanese intends to contact US President Donald Trump directly following Trump’s announcement of a plan to impose a 25 percent tariff on all steel and aluminium imports. This move has raised concerns in Australia regarding the potential impact on jobs and exports.

Australian political leaders are optimistic that the country’s defence alliance with the United States will facilitate a favourable outcome. Consequently, the Coalition has proposed that the government consider replacing Kevin Rudd as ambassador in Washington if necessary to secure a favourable trade agreement.

News

SpaceX IPO could make Elon Musk’s Mars dream a trillion-dollar reality

SpaceX’s upcoming IPO could raise $25 billion and value the company over $1 trillion, igniting investor excitement for Mars missions.

Published

1 day ago

December 12, 2025

Harvey Vargas

SpaceX’s upcoming IPO could raise $25 billion and value the company over $1 trillion, igniting investor excitement for Mars missions.

Investors are buzzing as SpaceX gears up for a potential IPO, aiming to raise more than $25 billion, possibly as soon as June. The offering could value the company at over $1 trillion, fueling Musk’s ambitious plans for Mars and beyond.

Despite the high-risk nature of space ventures, demand from retail investors is expected to be strong. Experts predict this IPO could become historic, with the company’s market value potentially soaring past $2 trillion once it launches.

Musk’s unconventional management style hasn’t slowed investor enthusiasm, even amidst regulatory hurdles. The funds raised could also support groundbreaking innovations, including energy-efficient space data centers.

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#SpaceX #ElonMusk #IPO #MarsMission #Investing #StockMarket #TrillionDollar #SpaceTech

News

Russia shoots down 280+ Ukrainian drones as Zelenskyy pushes new peace plan

Russia claims 280 Ukrainian drones shot down; Zelenskyy finalizes a new peace proposal amid rising tensions and military clashes.

Published

1 day ago

December 12, 2025

Harvey Vargas

Russia claims 280 Ukrainian drones shot down; Zelenskyy finalizes a new peace proposal amid rising tensions and military clashes.

Russia’s Defence Ministry claims it has shot down over 280 Ukrainian drones, with 40 intercepted near Moscow, some targeting the city directly. Emergency services responded to debris, and temporary flight restrictions were enforced at Moscow’s airports amid the attacks.

Meanwhile, President Zelenskyy revealed his team is finalizing a revised 20-point peace proposal, introducing new ideas on territorial control. Ukrainian and American officials are set to consult online, focusing on security guarantees rather than the detailed points of the plan.

As tensions rise, both military clashes and diplomatic efforts continue to shape the future of the conflict. Keep up with the latest updates and expert analysis on these unfolding events.

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#UkraineConflict #RussiaUkraine #Zelenskyy #DroneAttack #PeacePlan #Moscow #WorldNews #TickerUpdates

News

Disney invests $1B in OpenAI to generate Marvel, Star Wars, and Pixar videos

Disney invests $1 billion in OpenAI for AI-generated videos featuring iconic characters, enhancing fan interactions and launching in 2026.

Published

1 day ago

December 12, 2025

Harvey Vargas

Disney invests $1 billion in OpenAI for AI-generated videos featuring iconic characters, enhancing fan interactions and launching in 2026.

Disney is taking AI to the next level, investing $1 billion in OpenAI to create a licensing deal that allows users to generate videos featuring more than 200 characters from Disney, Marvel, Star Wars, and Pixar. This partnership could redefine how fans interact with their favorite characters.

The deal will let users stream short AI-generated videos directly on Disney+, and ChatGPT will also produce images of Disney’s licensed characters. However, the agreement excludes talent likenesses or voices, keeping human performances separate.

Set to launch in 2026, the collaboration also gives Disney warrants to purchase additional OpenAI equity and use AI tools for product development, opening doors to new creative opportunities.

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