Australia: U.S. Tariffs Threaten 3,000 Local Companies
Canberra – SABA:
The Australian government announced on Friday that the new U.S. tariffs on imports will negatively affect around 3,000 Australian companies, particularly those operating in the medical, mining, and agricultural sectors.
Treasurer Jim Chalmers stated that the measures, which target imports valued between $150 and $850 billion, will impose an additional burden on small and medium-sized enterprises that rely on exports to the U.S. market.
The Australian Chamber of Commerce warned that the tariffs could increase production costs and reduce the competitiveness of local companies, which in turn may negatively impact job opportunities and investment in the Australian market.
