Australia’s chances of escaping America’s global steel and aluminium tariffs appear all but extinguished, with the US president reconfirming his commitment to a comprehensive tariff regime he argues will be “the greatest thing we’ve ever done as a country”.
“We’re going to take in hundreds of billions of dollars in tariffs, and we’re going to become so rich, you’re not going to know where to spend all that money,” Donald Trump told reporters on board Air Force One flying from Florida to Washington DC.
“We’re basically going to take back the money – a lot of the money that we’ve given away over many decades.”
How is he going to get “Hundreds of Billions”?
Putting aside that’s not how tariffs work- we only export around $13billion per year to USA. Even a 25% tariff would require somewhere around 30 years for that US consumer paid money to even hit $100m, but he said Hundreds (plural)
Is this some 42D Chess (no) that Australia is going to see a 5x or more uptick in exports to USA?