Why Everyone Loses in Trump's Tariff War

The video discusses the impact of global trade tensions, focusing on Australia's position amid US-imposed tariffs. It highlights the risks and uncertainties these tariffs create for international markets, particularly for countries like Australia. The discussion includes potential strategies for Australia to leverage its stable investment environment and maintain trade relations with key partners. The video also examines the effects of US policies on multilateral trade agreements and the global trade system.

What percentage of Australia's total shipments were direct exports to the US in 2023?

• 7%

• 3%

• 5%

• 10%

What is one of the main risks associated with President Trump's tariffs according to Prudence Gordon?

• Increased certainty in global markets

• Strengthened trade rules

• Undermined faith in the trade system

• Improved US-Canada relations

How might Australia leverage trade uncertainties with the US?

• By positioning itself as a stable investment environment

• By reducing exports to China

• By forming a new trade agreement with Mexico

• By increasing tariffs on US goods

Which countries might Australia collaborate with to mitigate the impact of US tariffs?

• South Africa and Egypt

• Russia and India

• European Union and Japan

• Brazil and Argentina

What was the impact of the US pulling out of the Trans-Pacific Partnership?

• Strengthened US-Australia trade relations

• Led to the formation of a new trade agreement among remaining countries

• Increased US exports to Asia

• Decreased global trade tensions

What was a significant change in US trade policy under the Biden administration?

• Re-engagement in multilateral trade agreements

• Focus on the Inner Pacific Framework Agreement

• Withdrawal from all trade agreements

• Increased tariffs on European goods

What was a key feature of the trade agreement negotiated by President Trump with China?

• Reduction of all tariffs

• Specific market access requirements for China

• Increased import duties on Chinese goods

• Complete trade embargo