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#gold

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@drrimmer

Onya Albo, no reciprocal tariffs in Australia, although there’s definitely a strong argument for whacking a tariff on gold 😂.

“Tariffs and escalating trade tensions are a form of economic self-harm and a recipe for slower growth and higher inflation. They are paid by the consumers. This is why Australia will not be imposing reciprocal tariffs on the United States. Such a course of action would only push up prices for Australian consumers and increase inflation.”


“… in January 2025, for the first time since the US census bureau published records, Australia recorded a trade surplus with the US. This was driven, almost wholly, by a run on gold in the US. Australia shipped a record amount of gold to the US in January – worth US$2.9bn – according to Australian Bureau of Statistics figures, the highest figure in records dating back to 1995.”