Bloomberg Daybreak: Asia Edition Australian Treasurer Jim Chalmers on Global Tariff Impact
Mar 24, 2025
Australian Treasurer Jim Chalmers, known for his insights on US economic policies and cost of living relief, shares concerns about the seismic effects of new US tariffs on the global economy. He discusses the upcoming national budget aimed at easing financial pressures on Australians. Mark Nachman from Goldman Sachs provides a broader view on global market volatility, highlighting investment opportunities amid economic uncertainty, particularly in private markets and asset diversification strategies.
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Episode notes
Australian Budget Focus
- The Australian budget will focus on cost of living relief while maintaining future responsibility.
- Global economic uncertainty impacts the budget, requiring resilience against external shocks.
Cost of Living Concerns
- Cost of living remains a primary concern for Australians, influencing budget decisions.
- Despite progress on inflation, cost of living pressures persist, necessitating continued focus.
Strengthening Economic Resilience
- Invest in critical minerals and domestic industries to strengthen economic resilience.
- The US administration's policies and global uncertainty necessitate adapting to the changing world.