Trump’s trade war makes Dutton’s task harder on May 3
With the ASX forecast to slump a further 4 per cent at today’s opening, attitudes towards Trump’s revanchist protectionism are the wild card thrust into the middle of the federal election.
Even before “liberation day” Donald Trump was not popular in Australia. The US president’s standing will be made even more toxic by his sweeping reciprocal tariffs that have wreaked havoc on global markets and wiped roughly $100 billion off Australians’ superannuation balances.
The $4 trillion superannuation system (which has turned Australia into a capital-exporting country) puts the retirement income savings of ordinary Australians on the front line of Trump’s global trade war. With the local bourse forecast to slump a further 4 per cent at today’s opening, attitudes towards Trump’s revanchist protectionism are the wild card thrust into the middle of the federal election.
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