Reciprocal tariffs: Pros v Cons for business and markets
As we head towards the deadline when United States President Donald Trump's reciprocal tariff measures will be announced - likely at about 7am AEDT - Azzet asks, how many industries across what nations will be affected, causing already volatile global markets to push into more intense turmoil? The reciprocal tariffs are a further unwinding of free trade agreements between the U.S. and other nations (including Australia); which taxpayers, over decades, have flipped the bill for politicians to introduce. Let's look at the main good and bad sets of possible and likely outcomes that these ongoing Trump and Biden-led tariffs will cause.Pros:Supports U.S. manufacturing: Import taxes, such as the 25% on goods from Canada and Mexico, are designed to increase the cost of foreign products, incentivising businesses to establish production facilities in the U.S. and generate domestic employment. Increases government income: Tariffs have the potential to generate significant revenue - estimates suggest up to US$3.8 trillion over 10 years - which could finance tax reductions or public expenditures without hiking taxes for Americans. Strengthens border control: The 25% tariffs on Canada and Mexico serve as a tool to push for stricter
Sword of Damocles: Tariffs 2.0 put sharemarket on notice
Global stock markets fell sharply on Monday after the United States President Donald Trump hinted that new tariffs would hit all countries. While Trump, forever the showman, has not disclosed what that means, markets have been preparing for the worst-case outcome. Treasury has identified the “Dirty 15” — countries with the largest goods imbalances with the US — as possible early tariff targets. This group includes China, the EU, Mexico, Vietnam, Taiwan, Japan, South Korea, Canada and India. Given that the ASX200 shed $50 billion following the first tariff announcement in February 2025 - its worst fall since September 2024 – it is hardly surprising that investors are rattled by tomorrow’s tariffs 2.0. Since trading at 8555 points on 14 February, the ASX has fallen 7% to 7955.Uncertainty reignsWhile a lack of clarity has fuelled market swings and kept investors guessing, the Washington Post reported that a 20% blanket tariff on most imports is under consideration. US officially stated that the measures will take effect “immediately” once announced. At the epicentre of Trump’s tariff announcements, the U.S., the S&P 500 is down 4.6% for the first quarter, while the Nasdaq has slid over 10%. One measure of heightened
Star teeters on the brink after refinancing deals sinks
Just when it looked like the corporate cards could not be further stacked against it, Star Entertainment has been dealt another losing hand. The casino and entertainment company is on the brink of going bust after revealing a key refinancing deal collapsed and it remains in danger of running out of cash. Star said an A$940 million (US$592 million) offer that could provide it with sufficient liquidity to refinance all of its debt had now been withdrawn by alternative asset manager Salter Brothers Capital. The company said after extensive engagement with Salter Brothers and third parties including State governments and regulators, it became apparent a number of conditions precedent could not be satisfied to address its liquidity needs. In particular, lender requirements for specific priority arrangements and enforcement rights in relation to their proposed security over non-gaming assets could not be met. Star said it could not lodge its half-year report without an appropriate refinancing solution. It continued to explore liquidity solutions including a $250 million capital injection from American gaming giant Bally's Corporation. “However, there remains material uncertainty as to the Group's ability to continue as
India & AI: Good advice starts with correct risk profiling
Azzet recently caught up with Adelaide-based Partnership Advisory partner, Vik Chopra, for insights into how his advice firm is dialling down the current market uncertainty around trade war impact on global markets. Azzet: While the ASX200, and global markets have bounced somewhat since the first major trade-war induced selloff, investors remain spooked that major market falls are yet to occur. How are you handling the growing investor fear within these highly volatile markets? Vik Chopra (VC): Admittedly, it is easier to bring on new clients when markets are strong. But given that we spend a lot of time around a client’s risk appetite for volatility right from day one, we don’t feel the need to twist asset allocations when markets fall over. Younger clients in accumulation phase shouldn’t be panicking and should have no requirement to cash out which only locks in losses. They’ve got plenty of time to see markets correct. so they should have a healthy exposure to growth assets. By comparison, we recommend our older investor cohort are heavily exposed to defensive assets, and having 18 months in cash to live off, if necessary, ensures they can ride out volatility rather than having to sell down. But it is also import
Tanbreez: Greenland's new US$3bn rare earths deposit
Nasdaq-listed Critical Metals Corp (CRML) has just completed a preliminary feasibility assessment (PEA) of the Tanbreez rare earths (REE) project in southern Greenland and has priced the behemoth deposit at an eye-watering US$3 billion. Tanbreez is one of the largest REE finds on earth, with a 4.7 billion tonne mineralised kakortokite orebody and CRML currently holds a 42.5% interest in a joint venture with privately-held Tanbreez Mining. As per a binding agreement, CRML now needs to spend just another $10 million and it will gain an additional 50.5% equity interest, taking its ownership of the deposit up to 92.5%. Based on a preliminary $US3 billion valuation, it seems like a no-brainer - especially with United States President Donald Trump's keen interest in buying the island. Find out more: Trump and Greenland Part 2: The rush for rare earthsAustralian roots At the helm of the European-focused critical minerals explorer, ex-Perth Glory caretaker and ambitious resources speculator Tony Sage has put his chequered past with tax issues and other business operations behind him. Last year, he took his junior exploration company European Lithium (ASX : EUR) and its Wolfsburg lithium project in Austria across the pond, s
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