Australia’s chances of escaping America’s global steel and aluminium tariffs appear all but extinguished, with the US president reconfirming his commitment to a comprehensive tariff regime he argues will be “the greatest thing we’ve ever done as a country”.
“We’re going to take in hundreds of billions of dollars in tariffs, and we’re going to become so rich, you’re not going to know where to spend all that money,” Donald Trump told reporters on board Air Force One flying from Florida to Washington DC.
“We’re basically going to take back the money – a lot of the money that we’ve given away over many decades.”
Even if this plan succeeds, it’s not like the countries you just tariffed are just going to allow American exports into their markets. It will shrink the whole economy AND cause inflation at the same time. Economics fear this state for a reason.
If they don’t, Trump will do what he did to us here in Canada today and double the tariffs.
What do you mean? America is so strong and powerful, these countries would never fight back.
/s