Politics
First Xi, now Trump: tariff impacts on the Australian economy
First, the tariffs from China hit Australian exporters now it’s the Trump tariffs on steel and aluminium – and as we have just learnt there will be no exemption.
How will these measures affect the USA, but also China, Australia and the rest of the global economy?
Like the China COVID tariffs, the Trump tariffs will hurt Australian workers.
After all, 1 in 5 Australian workers depend on exporters and exporters pay 60 per cent higher wages on average than non-exporters in union jobs with EBAs. This will be bad for the steel workers of the Illawarra and the aluminium workers of Portland, and will also be inflationary, and put upward pressure on interest rates. That’s why we have seen the impact of tariff decisions (and tariff uncertainty) hitting the Australian share market and superannuation balances.
As a former Australian Prime Minister, could Ambassador Kevin Rudd got an exemption? I am sure he’s trying. But his pre-election comments disparaging Trump have not helped Australia’s interests not have the recent comments of another former Prime Minister Malcolm Turnbull. But to be fair, both Rudd and Turnbull have also been critical of Beijing.
Of course, Australia is not alone. The USA’s North America closet trading partner, Canada is in the same boat, as is Mexico. Canada has just had a leadership election with former Bank of Canada Governor Mark Carney (who was also Bank of England Governor) taking over as Prime Minister of Canada from Justin Trudeau. The Canadian Tories led by Pierre Poilievre are going to paint Carney as a Globalist, more comfortable in Switzerland than Saskatoon, but the tariffs on Canada give the new Prime Minister a chance to wrap himself in the Maple Leaf and fight the Trump tariffs. Carney can also paint Poilievre as Trump lite, and improve the Liberals chances in a contest suffering from the unpopularity of Trudeau. When a central banker can replaced a charismatic second-generation politician as Prime Minister and have a better chance we know we are living in interesting times.
With China and the USA unreliable trade partners, what options does Australia have? The Albanese Labor Government, to their credit have improved relations with our North East Asian trading partners like Japan and South Korea, Taiwan, ASEAN (with the special Australia ASEAN summit in Melbourne last year) as well as Europe and the emerging markets of the Middle East and North Africa (MENA) and Latin America.
We could actually get closer to Canada under their new Prime Minister, given our similar economic and political backgrounds (if not geography) and current situation on steel and aluminium tariffs. Canada has also had its issues with Beijing as well as Washington.
So forget the tyranny of distance, and May the Moose be with you.
Professor Tim Harcourt is the Chief Economist of IPPG at University of Technology Sydney (UTS) and host of The Airport Economist on Ticker.
Tim is also former chief economist of the Australian Trade Commission (AUSTRADE), the Australian Council of Trade Unions (ACTU) and the Reserve Bank of Australia (RBA).
Politics
Nationals split from Coalition over Sussan Ley’s leadership
Nationals Leader David Littleproud announces split from Coalition, criticising Sussan Ley’s leadership and approach to Labor’s legislation
Nationals Leader David Littleproud announces split from Coalition, criticising Sussan Ley’s leadership and approach to Labor’s legislation
– Nationals Leader David Littleproud announced separation from the Coalition, citing Sussan Ley’s mismanagement of legislation.
– The entire Nationals frontbench resigned, refusing to serve under Ley’s leadership.
Littleproud emphasised the breakdown in respect and decision-making within the Coalition, stating, “no one was prepared to serve in a Sussan Ley ministry.” He also noted opportunities for resolution were provided but ultimately disregarded by Ley.
The sentiment within the party was clear; they refuse to allow three of their senators to be scapegoated.
Future Coalition
Littleproud dismissed suggestions from former Prime Minister John Howard regarding party rules, asserting that making exceptions for the three dissenting senators would create issues.
He maintained that their action reflects the party’s values and commitment to integrity within their ranks.
Politics
Supreme Court tariffs and Albanese approval drop: What you need to know
Supreme Court’s tariff decision could reshape U.S. trade, while Albanese faces approval drop amid rising One Nation support.
Supreme Court’s tariff decision could reshape U.S. trade, while Albanese faces approval drop amid rising One Nation support.
The political and economic landscape is shifting on two fronts. In the United States, the Supreme Court is set to deliver a pivotal decision on tariffs that could reshape global trade, affect inflation, and influence U.S. economic growth. Chris Berg from RMIT University joins us to explain the stakes, from the political impact at home to the long-term implications for international relations and business strategy.
Meanwhile, in Australia, Prime Minister Anthony Albanese faces a steep drop in approval ratings as support for Pauline Hanson and her One Nation party surges. Recent events, including the Bondi massacre, have influenced voter sentiment, driving Labor’s primary vote down to 30 percent. Chris Berg breaks down what this means for Labor, the Coalition, and the upcoming elections, offering insight into broader public opinion trends and potential strategies moving forward.
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#USTariffs #GlobalTrade #Inflation #Albanese #OneNation #AustralianPolitics #EconomicImpact #ChrisBerg
Politics
Global tensions unpacked: Venezuela, Iran, China & Australia’s Bondi Commission
Professor Tim Harcourt analyzes Venezuela’s geopolitical shifts post-U.S. military operation, affecting oil markets and global alliances.
Professor Tim Harcourt analyzes Venezuela’s geopolitical shifts post-U.S. military operation, affecting oil markets and global alliances.
Professor Tim Harcourt from UTS breaks down the rapidly shifting geopolitical landscape in 2026, focusing on the dramatic situation in Venezuela and its ripple effects across global power plays. We explore how the United States’ recent military operation and capture of Nicolás Maduro have reshaped Venezuelan politics, oil markets, and strategic alliances, especially with China, Russia, and Iran.
With Venezuela sitting on nearly 20% of the world’s proven oil reserves, the stakes are enormous, and Harcourt helps unpack the economic and political drivers behind U.S. intervention and China’s response.
We also delve into how the U.S. actions in Venezuela tie into broader geopolitical frictions — particularly Washington’s efforts to curb Chinese influence in Latin America, even as Beijing denounces the operation as a violation of sovereignty and frames its position in multilateral fora. The conversation peels back the layers of how energy, economics, and security intersect in one of the most consequential flashpoints this year.
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#Geopolitics #Venezuela #USForeignPolicy #ChinaRelations #OilPolitics #InternationalRelations #TimHarcourt
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