Part 2/5:
This move is aimed at countries that have not yet secured trade agreements with the U.S. or are not part of existing arrangements. Trump mentioned that his administration is preparing to impose tariffs on "essentially the rest of the world," which could include Australia, should they fail to finalize a favorable trade deal.
The Implication for Australia
The Australian government has yet to secure a comprehensive trade agreement with the United States. The Albanese administration is actively engaged in negotiations, but a deal has not been finalized ahead of President Trump’s self-imposed deadline. This lack of a deal could see Australian exports facing higher tariffs, making them more expensive and potentially reducing their competitiveness in the lucrative U.S. market.