Australia will retain the lowest U.S. tariff rate of 10%, a move expected to boost its exports, while neighbouring New Zealand will face a higher 15% duty under President Donald Trump’s new tariff regime.
Trade Minister Don Farrell said on Friday that Australian products would become more competitive in the U.S. market after Trump kept the baseline tariff for Australia at 10%, while raising duties for 68 other trading partners to between 10% and 41%.
“What this decision means … is that Australian products are now more competitive into the American market,” Farrell told reporters in Adelaide, adding that the government would help exporters increase shipments.
Trump announced a 35% tariff on Canadian goods, 50% on Brazilian exports and 25% on Indian products, with the new rates taking effect in seven days.
New Zealand’s trade minister Todd McClay said he was seeking an urgent call with U.S. officials after tariffs on New Zealand goods rose to 15% from 10%. The United States is New Zealand’s second-largest export market, worth about NZ$9 billion (about $5.3 billion) annually.
Farrell said Australia’s approach to talks with Washington was a “vindication” of the Albanese government’s diplomacy. Australia recently eased restrictions on U.S. beef imports, though Prime Minister Anthony Albanese said the decision had been under consideration for some time and was not tied to trade negotiations.
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