1 week Ago By Storyful
A fiery exchange erupted in the US Senate on April 8 over US President Donald Trump’s decision to slap a 10 percent tariff on Australian exports. Addressing the Senate finance committee, Democratic Senator Mark Warner questioned US trade representative Jamieson Greer over why Australia, “an incredibly important national security partner,” had been “whacked” with the tariff. “Excuse me, ambassador, excuse me.
.. we already have a free trade agreement,” Warner said, describing the move as “ridiculous and extraordinary”.
“We have a trade surplus. So getting the least bad - why did they get whacked with a tariff in the first place?” Credit: CSPAN via Storyful Video Transcript Important. The interesting thing with Australia is We have a free trade agreement with Australia.
We don't have tariffs. We even have One of the few industrial countries, we have a trade surplus with Australia. So Ambassador, can you explain to me how it helps America's national security or our trading balance when we have, and I loved your fancy Greek formula, which was basically bad math on steroids, formula.
How with the trade surplus, with this strong relationship, Australia got hit with a 10% tariff as well. Senator, Australia has the lowest rate available under the new program. They imports of Ambassador, excuse me.
There is a trade. We already have a free trade agreement. We have a trade surplus.
So getting the least bad, why did they get whacked in the first place? We're addressing the $1.2 trillion deficit, the largest in human history that President Biden left us with. We should be running up the score in Australia the question on Australia.
We have a trade surplus with Australia. We have a free trade agreement. Why they are.
Incredibly important national security partner. Why were they whacked with a tariff, Senator, despite the agreement, they ban our beef, they ban our pork. They're getting ready to impose measures on our digital companies with your Greek letter formula, the fact that we have a trade surplus.
We have a global tariff on. We're trying to address the $1.2 trillion dollar that Biden left us with.
I think that answer, sir. You're a much smarter person than that answer. The idea that we are going to whack friend and foe alike.
And particularly friends with this level is both, I think, insulting the Australians undermines our national security and frankly makes us not a good partner going forward. The lack of trust from friends and allies based upon, This ridiculous policy that goes into full effect at midnight tonight. It is extraordinary.
I go back to what the market believers believe today is happening, a good day in hospice. I'm afraid if we keep these tariffs in effect we're looking like an economy that will be in hospice. Thank you, Mr.
Chairman. Senator Das..
