TARIFFS

Trade war risk to our currency safety valve

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Original article by Sarah Turner
The Australian Financial Review – Page: 13 : 21-Sep-18

Economic modelling undertaken by the Reserve Bank in March concluded that the Australian dollar could potentially rise by up to six per cent in the event of a global trade war. This in turn could cause the domestic economy to contract by up to 3.5 per cent over five years. This is one of three potential scenarios that were examined by the central bank at the time, in response to the Trump administration’s decision to impose tariffs on imported steel and aluminium.

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RESERVE BANK OF AUSTRALIA

TPP-11 signing sends Trump a message

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Original article by Andrew Tillett
The Australian Financial Review – Page: 6 : 8-Mar-18

Trade Minister Steven Ciobo says members of the 11-nation Trans-Pacific Partnership account for about 25 per cent of Australia’s exports, a figure that is likely to rise under the free trade deal. The Federal Government has revealed some details of the TPP; several participating nations will immediately scrap tariffs on products such as wine, seafood and steel, while some tariffs on beef will be phased out over a number of years. The TTP also includes provision for the free flow of data across borders. The TPP will be formally signed in Chile.

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AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, TRANS-PACIFIC PARTNERSHIP, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT