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Don't respond to Trump's trade policies with tariffs, Australia's economic adviser warns

( July 11, 2025, 05:35 GMT | Official Statement) -- MLex Summary: Australia shouldn’t retaliate against tariffs imposed by the US government on goods and services because to do so would “come at a cost” for the economy, Australia’s independent economic-advisory agency has warned. In a report published this week, the Productivity Commission said the agency’s modeling suggested that Australia should respond to the Trump administration’s planned 10 percent tariff by focusing on the further reduction and removal of tariffs on imports — in particular the over 300 tariffs that impose a “high indicative compliance burden and generate little policy or revenue benefit.”  The report also raises concerns about the government’s “Future Made in Australia” policy, which is described as “the main form of industry assistance in Australia.”The Productivity Commission's Trade and Assistance Review 2023-24 report is attached.  ...

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