00:00For the Australian exports, it certainly hurts the manufacturers, but the effect would be
00:10limited, because Australia exported about $1 billion trade in terms of steel and aluminum
00:18to the U.S., but it only accounts for a very small portion of the total trade to the U.S.,
00:27the total Australian exports.
00:29So also, Australia is not the major importer for steel and aluminum in the U.S., so the
00:39effect definitely is negative, but it's limited.
00:43I think overall, tariffs are not a wise strategy to manipulate the trade and economy, but the
00:52game has started, so Trump has started this game.
00:56So I think retaliative tariffs can be one resource that Australian government to consider,
01:03but they need to consider in what categories to implement this retaliative tariff, because
01:12if that's some products that consumers use very often, that would also push up the inflation.
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