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Jennifer Hewett

Trump’s tariffs hit markets and politics

It is now clear to world leaders and Wall Street that the president’s version of transactional politics includes the blunt reality of universal levies rather than just the threat of them as a negotiating tactic.

Donald Trump is not alone in playing puerile politics on issues of crucial national and global importance. In Australia, the Coalition’s attempt to blame Anthony Albanese for his inability to deflect US tariffs is as nonsensical as suggesting all might have been well had Malcolm Turnbull not been so nasty about the US president.

Not that the former prime minister’s intervention this week was exactly high-minded. It gave Turnbull another chance for more sharp jabs on his domestic targets, particularly Peter Dutton, as well as fulminating against the Trump economic wrecking ball.

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Jennifer Hewett is the national affairs columnist. She writes a daily column on politics, business and the economy. Connect with Jennifer on Twitter. Email Jennifer at jennifer.hewett@afr.com

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    Original URL: https://www.afr.com/policy/economy/trump-s-tariffs-hit-markets-and-politics-20250312-p5lj0c