Jul 09, 2025 (The Australian - ABIX via COMTEX) --
Treasurer Jim Chalmers says the federal government is urgently seeking further details from the US regarding the Trump administration's proposed tariffs on copper and pharmaceutical products. The 50 per cent tariff on imported copper will have limited impact on local producers, given that the US accounts for about one per cent of Australia's copper exports. However, the nation exported $2.06bn worth of pharmaceutical products to the US in 2024; Barclays analysts estimate that the proposed tariff of up to 200 per cent would cost the domestic economy around $2.8bn in total. Chalmers has emphasised that the government will not compromise on the Pharmaceuticals Benefits Scheme to secure a deal with the US..
Publication Date: 10 July 2025
AUSTRALIA. DEPT OF THE TREASURY
UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT
BARCLAYS BANK PLC
COMTEX_467180590/2229/2025-07-09T20:15:50
By Matthew Cranston and Ben Packham and James Dowling
Copyright 2025 Roy Morgan Research. All Rights Reserved.
