Trump’s Trade Tariffs Will Only ‘Impoverish,’ Australia Says
- U.S. allies are among biggest losers from U.S. tariffs
- Risk of trade war a serious threat for exporters: Willox
Natixis' Garcia Herrero Calls U.S. Approach to Trade War Misplaced
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Trade tariffs such as those U.S. President Donald Trump plans to impose on steel and aluminum imports will only end up reducing prosperity, according to Australian Trade Minister Steve Ciobo.
“Any time you increase tariffs or put in place barriers, all you do is further impoverish,” Ciobo said in an interview on Sky News on Sunday. “There is no prosperity at all from putting up trade barriers or higher taxes on traded goods.”