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Tariffs are Australia’s problem, even if we’re not the target

Investors are scrolling the list of the US’ biggest deficits, which makes this nation unlikely trade war prey. But we can still be materially hit.

Donald Trump is picking off the United States’ biggest trading partners one by one to try to re-weight the country’s trade deficits.

The consensus view in markets is that he’s going after the biggest deficits first (China and Mexico are the two largest) and is working his way down the list. Vietnam, Ireland, Germany, Taiwan, Japan and Korea are the next biggest trading partners by deficit.

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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com

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    Original URL: https://www.afr.com/chanticleer/tariffs-are-australia-s-problem-even-if-we-re-not-the-target-20250305-p5lh1e