President Donald Trump has slapped a 35 per cent tariff on imports from Canada in the latest wave of levies as Australia fears the same fate.

Latest news and live updates as Marco Rubio meets with Russian foreign minister amid tensions over Ukraine and Trump releases tariff letters to trading partners.

Australia’s total beef exports to the US rose significantly in June in the face of President Donald Trump’s new tariff regime, which saw the American leader specifically single out Canberra for refusing to accept adequate red meat imports.

Australia's central bank is very focused on U.S. tariff developments, Deputy Governor Andrew Hauser said on Wednesday, adding that there is an enormous amount of uncertainty in the global economy. The Reserve Bank of Australia on Tuesday surprised markets by holding interest rates steady at 3.

On April 2, 2025, US President Donald Trump unveiled sweeping new taxes—dubbed “Liberation Day” tariffs—targeting imports from nearly every country around the world. The move sent shockwaves through the global trade system and triggered a sharp downturn in international financial markets.

The US is set to impose a 50 per cent tariff on copper imports as early as late July, which could shake global supply chains but presents potential opportunities for Australia.

U.S. and European stock futures slid in Asia on Friday after President Donald Trump stepped up tariff threats against Europe and Canada, snuffing out an early rally in regional share markets.

Australia stands to receive small but positive benefits from Donald Trump’s tariff war, however, a broader trade war would have “serious consequences”, a new report has found.

A Labor frontbencher reassures "nothing has changed" for Australia after Donald Trump took to social media to unveil new tariffs. Follow live.

Australia will likely still be subjected to the 10% tariff rate on all exports to U.S. but the government will continue to try and negotiate for an exemption, Australian Prime Minister Anthony Albanese said on Friday.