The Aus companies to suffer most from a Trump border tax

The Aus companies to suffer most from a Trump border tax

The Trump administration’s foreshadowed plans for a new tax on imports would hit a range of Australian companies including those selling wine, medical supplies, software and clothing, according to analysis by Citi. The border tax, said to be 20%, would cause major changes in trade flows across the world, especially for those countries where the US is a key market. However, Australia buys more from the US than it sells back. In 2015, Australia’s exports were $14.2 billion, while imports from the US were $33 billion.

According to analysis at Citi, many of the larger Australian companies which have expanded to the US have significant local production which would cushion them from any new border tax

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