Trump’s 15% tariff sets off new ‘rollercoaster’ for the global economy
The US President’s latest tariffs plus a fresh tranche of domestic inflation data will dictate the economy and markets this week.
Markets and economists face another week of uncertainty, with US President Donald Trump reacting to a court decision about his tariffs with a higher rate to be slugged on trading partners and upcoming local inflation data expected to be too hot for comfort for the Reserve Bank.
Here’s what you need to know about the key economic data releases this week.
Tariff uncertainty strikes again
The event: US President Donald Trump raising global tariff rate to 15% after Supreme Court decision
What news: Over the weekend, Trump announced he would increase the global tariff rate to 15%, from 10%, on the back of a court decision finding his previous tariffs imposed using emergency powers were unlawful. The Supreme Court was not looking at some of the tariffs on China and specific sectors, including steel, aluminium and automobiles, but did cover reciprocal, universal and fentanyl-related tariffs. This includes the 10% baseline reciprocal tariff affecting Australia.
