00:02Australian beef may be exempt from Trump's tariffs, but that is not the case for lamb.
00:09Across the country, industries once again left to figure out the price of doing business with the United States.
00:16It's just sort of another day, another tariff problem.
00:20Australia is being hit with the highest tariff of 12.5%.
00:24This replaces a temporary import duty of 10%, imposed after the president's sweeping Liberation Day duties were deemed unlawful.
00:34Trump, as you know, really likes tariffs.
00:37This particular method, through this Section 301 they're called, has been shown to withstand core challenges a bit better.
00:46Trade expert Luke Branson says that these tariffs could be in place for years.
00:51We've obviously had quite a wild ride, a roller coaster over the last 18 months of trade policy changes let
00:59out of the United States.
01:00But this change was actually quite broadly telegraphed.
01:03The whole cost of the 12.5% looks to be about 1.5 billion on Australian exports to the
01:09United States over an annualised basis.
01:13Businesses might absorb the extra cost or pass the pain on to their American customers.
01:18Australian businesses had only just started to claw back the illegal tariffs they paid to the Trump administration.
01:25Now this extra cash is going towards paying these new higher tariffs while exporters simply wait for another curveball.
01:33Just two and a half years.
01:35Businesses
01:36Businesses
01:36Businesses
01:36Businesses
01:36Businesses
01:37Businesses
01:37Businesses
01:37Businesses
01:37Businesses
01:37Businesses
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