Trump's tariff revenue won't significantly reduce US deficit, trade expert explains | ABC NEWS

The Trump administration is planning to impose a 12.5 per cent tariff on goods from Australia, alleging the country has failed to take action to prevent slavery and forced labour.
The new tariff will be stacked on top of the existing 10% Section122 tariffs.
Nathan Howard Gray from Adelaide University explains what the impact will be on Australia and says Trump's tariffs will not come close to covering federal deficit in the United States which is running at about 6% of GDP.

Subscribe: http://ab.co/1svxLVE
Read more here: https://www.abc.net.au/news/2026-06-03/australia-faces-proposed-us-tariff-over-forced-labour-crackdown/106756686

Note: In most cases, our captions are auto-generated.

#ABCNEWS #ABCNEWSAustralia