Tariff Update: What Businesses Need to Know

The U.S. has introduced new tariff rates under an Executive Order signed on 31 July 2025. These changes are significant for Queensland exporters.

What’s changing?

• Baseline tariff: Most Australian exports to the U.S. now face a 10% tariff (pharmaceuticals, gold, and critical minerals are exempt).
• Higher tariffs: Steel, aluminium, auto parts — and now copper — are hit with 50% tariffs.
• Transhipment penalties: Goods rerouted to avoid duties may face a 40% penalty tariff plus fines.
• Sector-specific tariffs: Targeted increases on industries such as copper products.

Why it matters for Queensland:

• The U.S. is a major export partner, valued at $3.6 billion in 2024.
• These new tariffs could impact local businesses heavily reliant on U.S. trade.

Government response:

• No retaliatory tariffs from Australia.
• $50 million support fund to help exporters find new markets.
• $1 billion zero-interest loan program to support affected sectors.
• Trade & Investment Queensland (TIQ) will provide advice on managing risks and diversifying markets.