Australia faces a potential tariff of between 2 per cent and 8 per cent on the $30 billion of exports sold to the United States, such as beef and pharmaceuticals, if the Albanese government fails to win an exemption from Donald Trump’s next round of sweeping tariffs.

The relatively low tariff – compared to rates of 25 per cent to 100 per cent Trump has threatened on China, Canada, Mexico and Europe on select goods – is the estimate of trade experts and government sources, based on preliminary talks with the Trump administration and public statements by US officials.