Your morning Briefing
Welcome to your morning roundup of what’s making news and the must-reads for today.
Hello readers. Here is your two-minute digest of what’s making news today.
Trade war looms
A trade war between the US and China appears imminent after Donald Trump today announced $US60 billion of new tariffs on Beijing. Declaring that the move would make American a stronger, richer nation, the president said; “We’re doing things for this country that should have been done for many, many years.” Wall Street plunged overnight, pulled down by shares of banks and manufacturers, as investors worried whether a new round of tariffs would further fan the threat of a trade war. The declines were broad, with nine of the 11 sectors in the S & P 500 — and all 30 stocks in the Dow Jones Industrial Average — suffering losses.
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Tax deal near
The Turnbull government is on the brink of securing a historic deal with Senate crossbenchers to cut the company tax rate for all businesses, with independent Derryn Hinch looming as an eleventh-hour stumbling block. But Labor is eyeing an election campaign battleplan to roll back Malcolm Turnbull’s cut in the company tax rate from 30 to 25 per cent if it wins office. Judith Sloan argues that we have no choice but to cut company tax rates.
“When almost every developed economy has cut or is in the process of cutting their rates of company tax, Australia will have no choice but to follow suit.”
Judith Sloan
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Andrews under fire
Daniel Andrews’ caucus enemies are plotting to destabilise his leadership over the rorts-for-votes scandal, declaring it “implausible’’ that the Victorian Premier was unaware of the wrongdoing. The enemies are pressing MPs involved in the affair to detail what they knew, and when, about former treasurer John Lenders’ strategy to partly pay election campaigners with public money. Richo writes that while the Liberal opposition may be unworthy, these rorts could sink Andrews.
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Obama’s parent tips for Ardern
New Zealand Prime Minister Jacinda Ardern received parenting tips from Barack Obama when she met the former US president in Auckland. Ms Ardern, who is expecting her first child in June, held discussions with Mr Obama after he received a traditional Maori welcome at Government House. She said she asked him “how do you deal with guilt” as a parent in politics. “Because I have no doubt I’m going to experience some of that in the future as I juggle the roles that I have,” she said. The Prime Minister said President Obama reassured her with some simple advice.
“His insights were the same as I’m sure any parent would probably give me: that you do your best.”
Jacinda Ardern
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Cummins causes collapse
Pat Cummins has changed the course of the third Test with a brilliant late spell that earned him 4-7 and won his side an advantage that had been South Africa’s alone up to that point. Playing in just the 13th Test of his career — his 12th since making a comeback in India — the quick summoned reverse swing and swung the odds into Australia’s favour in the third session.
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Kudelka’s view
China’s great wall of silence
China deliberately concealed information about the coronavirus, and now it is fighting an inquiry. So what is Beijing hiding?
Your noon Briefing
Your 2-minute digest of the day’s top stories.