this post was submitted on 10 Feb 2025
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I remember reading that the government was hoping that because we run a trade deficit with the yanks they wouldn't do this. Look forward to that just being the assumption and the government having done 0 planning.
@spiffmeister
Didn't we just hand over $800,000,000 for those used submarines we bought on gumtree? I'm sure the yanks are good for it, they said they were our mates, right?
@TheCriticalMember
The United states can't be trusted as a trading partner anymore. trump doesn't even honour his own deals.
there was absolutely no planning any country can do to survive an insane trade war with the united states. nothing. there's no other trading partners that can take the exports in the volume every country trades with the US, without taking devastating hits to their own economies, which would see recession and depressions on a scale never experienced before in the modern world.
Our biggest trade partners are japan and china.
We measure trade income from the us in hundred millions, sure. But we measure trade from asia in the billions
"Our biggest trade partners are japan and china. We measure trade income from the us in hundred millions, sure. But we measure trade from asia in the billions"
lol no, Not if you live in Australia In 2023, the United States was our third-largest two-way trading partner in goods and services, worth $98.7 billion. Australia's goods and services exports to the United States were $33.6 billion. Australia's total imports from the United States were $65.1 billion. but this is why morons think it's no big deal just "cut of the US from Global trade"
What can you really do to prepare for something like this? Specifically against the US which is:
Iron Ore to China: China was the dominant market for Australian iron ore, accounting for around 85% of exports. This amounted to approximately AU$115 billion in value in 2023, with over 736 million tonnes shipped in 2022
vs
Steel to America: United States: Exports of steel to the U.S. were much higher, totaling US$237.51 million in 2023. Key products included flat-rolled and semi-finished steel2.
https://www.perplexity.ai/search/how-much-iron-ore-and-steel-do-5bWZvTZeRqSNQSlFbu1MBg
I'd like to know more about just how big our steel industry is apart of the exports pie especially compared to iron ore but I suspect we may be blowing this tariff out of proportion
It might be small biccies compared to iron ore to China, but the optics are really bad, and when Australia is included in the tariffs, then psychologically we are siding with Everyone Else in this new US vs Democracy fight. Because that's what the US (tech bros, who are now in charge) are orchestrating: a direct attack on democracy.
So yes, the numbers are small compared to other countries, but the attack is ideological, and real.