The International Monetary Fund (IMF) has forecast that Australia will slip to 2.8 per cent growth next year, down from an expected peak of 3.2 per cent this year, due to the impact of the continued US-China trade war. The IMF’s October World Economic Outlook report has revised down the forecasts for global growth contained … Continue reading IMF downgrades growth forecast in wake of escalating trade tensions
China on Wednesday introduced a fresh round of tariff cuts on numerous import products, in a move perceived as a means to protect the Chinese consumers against the escalating trade war with the US. China’s State Council announced broad details of the cuts late Wednesday, without saying whether they would apply to U.S. products. China has previously vowed to exclude … Continue reading China to cut tariffs on imports including machinery, electronic devices
The fifth round of tariff cuts under the Japan-Australia Economic Partnership Agreement (JAEPA) came into effect on the first day of April, delivering wide-ranging benefits for Australian businesses that will help drive exports and create new jobs. “The new tariff cuts will boost Australia’s already vibrant trade and investment relationship with Japan, our second-largest trading … Continue reading Japan-Australia FTA brings new tariff cuts
A proposed tariff on imported steel has reignited the tariff debate.
In another disappointing story for Australian car manufacturers, news.com.au reports that plans to export the Holden Commodore Ute have been scrapped due to high US tariffs.