Part 8/10:
Importantly, Australia’s options are limited. The government is unlikely to agree to concessions on the PBS or other sensitive sectors such as farmers, given the potential political backlash and internal policy constraints.
As Phillips points out, the ultimate shape of the tariffs depends largely on U.S. domestic negotiations and Trump’s negotiation tactics. There is speculation that Trump might regret setting the original 10% baseline, as he could now try to push for more, especially if he perceives Australia to be a willing bargaining partner.