ABC News Daily
How much will Trump’s trade war cost you?
Apr 9, 2025
Join economist Dr. Susan Stone, Chair of Economics at the University of South Australia, as she dives into the impacts of Trump's 104% tariffs on Chinese goods. She unpacks how these trade policies are shaking the global markets, particularly affecting Australian shares and consumer prices. The conversation highlights the potential strains on the Australian dollar and superannuation funds while also considering the historical context of trade wars. With a focus on recovery, Susan offers insights into navigating these turbulent economic waters.
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Quick takeaways
- The imposition of a 104% tariff on Chinese goods is causing significant volatility in global markets, impacting Australian investments and economic dynamics.
- Australia's reliance on trade amidst rising tariffs is decreasing competitiveness, leading to concerns over consumer purchasing power and potential interest rate cuts.
Deep dives
Impact of Tariffs on Global Markets
The implementation of a 104% tariff on Chinese goods has contributed to significant volatility in global markets, particularly affecting the Australian Stock Exchange. The concerns about a potential trade war have led to deep losses, with the Australian market down by more than 4% in a single week. Investors are reacting to the rising costs of conducting business due to tariffs, which prompts a reevaluation of company profitability and results in stock sell-offs. This reaction indicates how interconnected the economies are, highlighting that the decisions made by one country can ripple through the global market and influence investor sentiment across the board.
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