Goldman Cuts Australia Economic Outlook on Trump Tariff Impact
- Australia 2025 GDP forecast now seen at 1.8% versus 2% before
- RBA is expected to begin easing cycle in February next year
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Goldman Sachs Group Inc. lowered its forecast for Australia’s economic growth in 2025, pointing to likely “negative spillovers” from the incoming Trump administration’s expected increase in tariffs on China.
Goldman now sees gross domestic product rising 1.8% next year, compared with 2% seen previously, reflecting the anticipated impact on exports from Australia’s biggest trading partner, according to its Australia and New Zealand 2025 Outlook, released Monday. President-elect Donald Trump has threatened to implement 60% tariffs on exports from China as he seeks to protect US firms and jobs.