Part 3/8:
Interestingly, there may be some progress on this front. McGarin points out that Australia might be able to negotiate a reduction of tariffs to a universal 10%, rather than the punitive 15% or 25% tariffs that Trump has levied — even against allies such as Japan and South Korea. However, a more contentious issue remains unresolved: Trump’s demand for U.S. allies to spend 3.5% of their GDP on defense acquisitions. Australia currently spends approximately 2%, falling short of the U.S. requirement.