The US President has announced extensive new tariffs on imports from numerous countries, including Australia, during a much-anticipated event.

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Prime Minister Anthony Albanese has attempted to minimise concerns surrounding the impact of recent tariffs on Australia. He noted that the United States comprises less than five per cent of Australia’s total exports, suggesting that the repercussions for Australia will be limited. Albanese pointed out that other countries are likely to experience significantly greater challenges due to these measures. He articulated that, when considering the overall effects of this decision by President Trump, Australia is exceptionally well-equipped to navigate the situation.