'It's a very great threat': United States President Trump reveals tariffs amid 'Liberation Day' speech
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The world has been looking at the United States (US) recently due to the events happening in their country.
In a move that has left many curious, US President Donald Trump recently targeted Australia and other countries in a series of sweeping tariffs announced on what he called 'Liberation Day'.
His decisions raised questions about international trade relations and made many consumers curious about its results.
Trump's announcement during a news conference at the White House singled out Australia for a 'baseline' 10 per cent tariff on all exports to the US.
However, Trump singled out one of the country's biggest exports—Australian beef.
'Australia bans—and they're wonderful people, and wonderful everything—but they ban American beef,' President Trump stated.
'Yet we imported US $3 billion (A$ 4.7 billion) of Australian beef from them just last year alone.'
'They won't take any of our beef. They don't want it because they don't want it to affect their farmers, and you know, I don't blame them, but we're doing the same thing right now starting at midnight tonight, I would say,' President Trump further added.
Other imports, such as tech, medicine, and ship manufacturing, were also affected by these tariffs.
'We have to go to foreign countries to treat our sick,' President Trump added.
'In short, chronic trade deficits are no longer merely an economic problem; they're a national emergency that threatens our security and our very way of life. It's a very great threat to our country.'
'And for these reasons, starting tomorrow, the United States will implement reciprocal tariffs on other nations,' he concluded.
While other countries like China face higher tariffs, the focus on Australian beef caused a stir due to the longstanding trade relationship between the two nations.
The reason behind Australia's ban on raw products like beef goes back to more than two decades ago.
The Australian government maintained this ban due to the risk of mad cow disease, also called bovine spongiform encephalopathy.
Mad cow disease is a fatal, neurodegenerative disease that could be transmitted to humans through the consumption of infected beef.
The US practice of using cattle feed—which also included discarded parts of the cattle—has been a point of contention due to the risk of spreading the disease.
President Trump's tariffs could have significant implications for both countries.
The US has been Australia's major market for beef.
'Australian beef is in an estimated 6 billion hamburgers consumed each year in the US, and this tariff will cost the US consumer an additional US$180 billion (A$287 billion) per year,' Red Meat Advisory Council chair John McKillop stated.
'Without Australian lean beef blended with local fatty trim, the US would need to use higher value cuts in their burgers and miss out on valuable export opportunities. This, in turn, optimises value for US ranchers.'
The newly imposed tariffs could mean a sharp increase in the cost of beef products.
McKillop estimated that the tariffs on Australian red meat could cost up to US$600 million (A$958 million).
This could lead to more expensive hamburgers and steaks and could change American dining.
Learn more about the 'Liberation Day' announcement in this coverage from 9 News Australia:
Source: 9 News Australia/YouTube
In light of the recent announcement, Prime Minister Anthony Albanese shared his thoughts about the 'totally unwarranted' measure.
'It is the American people who will pay the biggest price for these unjustified tariffs,' Prime Minister Albanese stated.
'Australia won't reciprocate: This is why our government will not be seeking to impose reciprocal tariffs.'
'We will not join a race to the bottom that leads to higher prices and slower growth,' the Prime Minister concluded.
With the imposed tariffs, many countries may opt for Australian beef products rather than stock from the US.
The increased demand for Australian beef could send prices spiralling at local retailers and butchers.
Australian Food Sovereignty Alliance's spokesperson, Dr Tammi Jonas, shared the pros and cons of this possibility.
'We already know there's high demand for Australian beef around the world and I think that's just going to get higher,' Dr Jonas shared in an interview.
'In a global supply crunch like this, we could see rump steak climb past $50 per kilogram.'
'That's not a family dinner; that's a premium luxury.'
However, RaboResearch Senior Analyst Angus Gidley-Baird countered that local conditions should still influence the local market.
'We produced record volumes of beef last year, I don't see why there would be a shortage in the domestic market that would cause prices to rise,' Mr Baird stated.
'The exports are effectively our markets that we sell the additional production into.'
As the tariffs take effect immediately, many are keenly watching at how these events could affect the daily lives of Aussies.
What are your thoughts on these tariffs on Australian beef? How do you think this will affect your grocery shopping and meal planning? Share your views and thoughts about this news in the comments below.
In a move that has left many curious, US President Donald Trump recently targeted Australia and other countries in a series of sweeping tariffs announced on what he called 'Liberation Day'.
His decisions raised questions about international trade relations and made many consumers curious about its results.
Trump's announcement during a news conference at the White House singled out Australia for a 'baseline' 10 per cent tariff on all exports to the US.
However, Trump singled out one of the country's biggest exports—Australian beef.
'Australia bans—and they're wonderful people, and wonderful everything—but they ban American beef,' President Trump stated.
'Yet we imported US $3 billion (A$ 4.7 billion) of Australian beef from them just last year alone.'
US President Donald Trump announced these tariffs last Wednesday, 2 April. Image Credit: Instagram/Donald Trump
'They won't take any of our beef. They don't want it because they don't want it to affect their farmers, and you know, I don't blame them, but we're doing the same thing right now starting at midnight tonight, I would say,' President Trump further added.
Other imports, such as tech, medicine, and ship manufacturing, were also affected by these tariffs.
'We have to go to foreign countries to treat our sick,' President Trump added.
'In short, chronic trade deficits are no longer merely an economic problem; they're a national emergency that threatens our security and our very way of life. It's a very great threat to our country.'
'And for these reasons, starting tomorrow, the United States will implement reciprocal tariffs on other nations,' he concluded.
While other countries like China face higher tariffs, the focus on Australian beef caused a stir due to the longstanding trade relationship between the two nations.
The reason behind Australia's ban on raw products like beef goes back to more than two decades ago.
The Australian government maintained this ban due to the risk of mad cow disease, also called bovine spongiform encephalopathy.
Mad cow disease is a fatal, neurodegenerative disease that could be transmitted to humans through the consumption of infected beef.
The US practice of using cattle feed—which also included discarded parts of the cattle—has been a point of contention due to the risk of spreading the disease.
President Trump's tariffs could have significant implications for both countries.
The US has been Australia's major market for beef.
'Australian beef is in an estimated 6 billion hamburgers consumed each year in the US, and this tariff will cost the US consumer an additional US$180 billion (A$287 billion) per year,' Red Meat Advisory Council chair John McKillop stated.
'Without Australian lean beef blended with local fatty trim, the US would need to use higher value cuts in their burgers and miss out on valuable export opportunities. This, in turn, optimises value for US ranchers.'
The newly imposed tariffs could mean a sharp increase in the cost of beef products.
McKillop estimated that the tariffs on Australian red meat could cost up to US$600 million (A$958 million).
This could lead to more expensive hamburgers and steaks and could change American dining.
Learn more about the 'Liberation Day' announcement in this coverage from 9 News Australia:
Source: 9 News Australia/YouTube
In light of the recent announcement, Prime Minister Anthony Albanese shared his thoughts about the 'totally unwarranted' measure.
'It is the American people who will pay the biggest price for these unjustified tariffs,' Prime Minister Albanese stated.
'Australia won't reciprocate: This is why our government will not be seeking to impose reciprocal tariffs.'
'We will not join a race to the bottom that leads to higher prices and slower growth,' the Prime Minister concluded.
With the imposed tariffs, many countries may opt for Australian beef products rather than stock from the US.
The increased demand for Australian beef could send prices spiralling at local retailers and butchers.
Australian Food Sovereignty Alliance's spokesperson, Dr Tammi Jonas, shared the pros and cons of this possibility.
'We already know there's high demand for Australian beef around the world and I think that's just going to get higher,' Dr Jonas shared in an interview.
'In a global supply crunch like this, we could see rump steak climb past $50 per kilogram.'
'That's not a family dinner; that's a premium luxury.'
However, RaboResearch Senior Analyst Angus Gidley-Baird countered that local conditions should still influence the local market.
'We produced record volumes of beef last year, I don't see why there would be a shortage in the domestic market that would cause prices to rise,' Mr Baird stated.
'The exports are effectively our markets that we sell the additional production into.'
As the tariffs take effect immediately, many are keenly watching at how these events could affect the daily lives of Aussies.
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They will end up being the loser's
