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.

US President Donald Trump speaks on steel and aluminum tariffs watched by Dave Burritt (R) of US Steel Corporation during a meeting with industry leaders in the Cabinet Room of the White House on March 1, 2018 in Washington, DC. / AFP PHOTO / MANDEL NGAN

Tariff threat

More than $170m of Australian steel and aluminium exports to the US are under threat after Donald Trump said he will impose sweeping tariffs on steel and aluminium imports next week. The move is aimed at limiting Chinese steel imports into the US but the president did not say if other countries would be excluded.

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19/9/17: David Thodey, Chairman of CSIRO (left) and NAB Chair Ken Henry at NAB House in Sydney. John Feder/The Australian.

Decade of tax reform fails

Former Treasury secretary Ken Henry has blamed successive federal governments for presiding over a decade-long failure to ­deliver meaningful tax reform, leaving government unable to fund itself and average Australians shouldering an increasing income-tax burden to pay for it. The National Australia Bank chairman has also delivered a blunt message to business that if it wants to be “taken seriously” in the debate over company tax cuts, it will have to adopt a new role in society that includes a social ­compact.

“Australia will get no progress on tax reform unless the ­community sees vested interest make way for the national interest.”

Ken Henry

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Not been a good week for Michaelia Cash. Bill Shorten or Julie Bishop

Hump day

Wednesday was no ordinary parliamentary sitting day. Three senior politicians — Bill Shorten, Julie Bishop and, in particular, Michaelia Cash — all finished the day looking diminished and wounded, according to Richo.

“These three incidents will only compound the dismal image of politicians on the make, being duplicitous and being just plain nasty.”

Richo

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Russian President Vladimir Putin addresses the Federal Assembly at Moscow's Manezh exhibition centre on March 01, 2018. / AFP PHOTO / Yuri KADOBNOV

Super-nukes

President Vladimir Putin says Russia has tested new nuclear weapons, including a nuclear-powered cruise missile and underwater drone, that would be immune to enemy intercept. Speaking in a state-of-the-­nation speech tonight, Mr Putin said that the nuclear-powered cruise missile tested last northern autumn has an unlimited range and high speed and is capable of penetrating any missile defence.

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Rod Clement Margin Call Cartoon for 02-03-18Version: Letters Cartoon (Original)COPYRIGHT: The Australian's artists each have different copyright agreements in place regarding re-use of their work in other publications.Please seek advice from the artists themselves or the Managing Editor of The Australian regarding re-use.

Bridging finance

Things are getting pointy in the battle to secure the lucrative 20-year contract to run the Sydney Harbour Bridge Climb from October this year, one of the commercial jewels in Gladys Berejiklian’s Premier State. Who wouldn’t want to run the internationally renowned tourism icon that turns over $50 million a year and last year made an almost $17m bottom line profit for its Rich Lister owners?

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Australia's batsman Mitchell Marsh leaves the field as match delayed by bad light on day one of the first cricket test match between South Africa and Australia at Kingsmead stadium in Durban, South Africa, Thursday, March 1, 2018. (AP Photo/Themba Hadebe)

Hard slog

It was hard, attritional cricket on the first day of the series in South Africa and it was difficult at the end of it to establish just who has the upper hand, writes Peter Lalor. When bad light stopped play Australia was 5-225 with Mitch Marsh 32no, Tim Paine 21no and the new ball due in four overs. The average first innings score at the ground in the last five matches is 309. The pitch got lower and more difficult to bat on after lunch. Relive day one as it happened with our blog.

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Kudelka’s view

Jon Kudelka Letters cartoon for 02-03-18Version: Letters Cartoon (1280x720 - Stretched to Fit)COPYRIGHT: The Australian's artists each have different copyright agreements in place regarding re-use of their work in other publications.Please seek advice from the artists themselves or the Managing Editor of The Australian regarding re-use.