Statement attributable to Business Council Chief Executive Bran Black:
We are disappointed by the decision of the United States to impose a new 12.5 per cent tariff on Australian goods, up from 10 per cent, penalising Australian businesses for no justifiable reason.
The United States Trade Representative’s finding rests on the narrow claim that Australia lacks a US-style ban on importing goods made with forced labour, despite our already strong Modern Slavery Act, and without identifying a single company, enforcement failure, or quantified trade impact.
The Business Council supports free and open trade, and we see no basis for these new tariffs.
This decision will make it harder for Australian businesses to compete and sell their products into the US market, hurting investment and our jobs.
Australia already runs a trade deficit with the United States, and we remain deeply integrated partners. The US is our largest two-way investment partner, with total investment exceeding $2 trillion.
We will continue to work with the Australian Government and officials in Washington D.C. to minimise the impact on Australian businesses.