27 May Post Election International Trade Update
With the Federal election over, the Australian federal government has announced its intention to continue negotiations with the US to reduce or remove the tariffs imposed on US imports of Australian products.
This includes discussions around the baseline tariff, the current tariffs of 25% on Australian steel, aluminium and automotive components, as well as the upcoming US inquiry into potential additional tariffs on Australian pharmaceutical imports due to the ‘support’ provided by our Pharmaceutical Benefits Scheme.
In addition, the federal government will continue its previous free trade agenda, together with new and renewed negotiations on other free trade agreements (FTA) with nations such as United Arab Emirates, India, New Zealand and the European Union (EU).
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