Part 4/6:
The continuous imposition of tariffs by the Trump administration raises serious concerns about the stability of global trade networks. For countries like Australia, the impact could be particularly detrimental. Australia’s economy relies heavily on exports, especially in sectors beyond traditional commodities such as mining, gas, and coal.
Pharmaceuticals represent one of the few sectors where Australia has a significant comparative advantage, particularly in innovation and advanced technology. The potential tariffs threaten these competitive advantages, which could result in reduced export opportunities and economic setbacks.