Australia escapes further damage from US tariffs

Chamber leaders from the across the country have united in their response to the latest tariff announcement by the United States Administration.

The chamber leaders appreciate that Australia’s baseline tariff with the US remains at 10 per cent.

While this is the best outcome we could have expected, it is still an unwarranted impost which risks undermining the potential for stronger trade and investment between the two countries.

Australian Chamber of Commerce and Industry (ACCI) chief executive officer Andrew McKellar said the tariffs are unjustified.

“It has to be remembered that Australia imposes no tariffs on US products,” said Mr McKellar.

“We also have a strong trade surplus in favour of the US in terms of our two-way trade.

“That said the announcement by the US Administration imposing a 10 per cent baseline tariff on Australia means that no other country has a lower reciprocal tariff.

“Business has been working closely with government to mitigate the risk of higher tariffs.”

Mr McKellar has just returned from Washington DC where he led a delegation of State Chamber CEOs in advocating for Australian business with counterparts in the United States.

“We will continue to work with the government and we’ll continue to prosecute the case that there should not be trade barriers between our two economies,” Mr McKellar said.

Quotes from state business chamber leaders below:

Business NSW CEO Daniel Hunter said:

“The Chamber movement, together with state and federal governments, will continue working in partnership to attract investment and trade opportunities with the US that strengthen businesses and the communities they support.”

Business Chamber Queensland CEO Heidi Cooper said:

“We have seen firsthand the enormous potential for Queensland businesses in the United States and the importance of the broad economic relationship between our two countries. 

“It is essential that Queensland businesses can continue to engage in a reciprocal trade landscape which fosters and opens opportunities.  This has never been more important than right now as we see increased global demand for Queensland products and services which will only increase in the lead up to 2032 and beyond.”

Victorian Chamber of Commerce and Industry Chief Executive Paul Guerra said:

 “This is the best result that our members could have hoped for in the current climate. It highlights the importance of the strong and sophisticated advocacy we have at the highest levels into the US. The US is a vital trading partner for many of our members and we will continue to engage and prosecute on their behalf.”

CCIWA Acting co-CEO Aaron Morey said:

“Western Australia is a trading economy and while the direct impact on trade to the US will be reasonably contained, the bigger concern for WA will be the flow-on impacts from the US tariffs on China

“We look to the Commonwealth to continue to work with the US government and seek to minimise the impact of these tariffs on Australia’s global competitiveness.”

South Australian Business Chamber CEO Andrew Kay said:

“This announcement provides a level of certainty for South Australian businesses and we will continue to work closely with government and trade officials to deliver nuanced and considered advocacy that creates a positive environment for our members.”