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Deputy PM says retaliatory tariffs on US not in Australia’s interests

The deputy prime minister, Richard Marles, says retaliatory tariffs on the US would not be “in the interest of the Australian economy or Australian workers”.

Marles is speaking on ABC Radio National, where he is being asked about the Trump administration’s decision to reject Australia’s plea for an exemption from tariffs on steel and aluminium imports.

The Trump administration has imposed taxes on imports from important trading partners, including tariffs of 25% on all imported steel and aluminium which came into effect yesterday.

In response, Canada announced retaliatory tariffs on nearly $30bn worth of American imports.

Asked if Australia would do anything similar, Marles said:

In terms of doing retaliatory tariffs, that would not be in the interests of the Australian economy, of Australian workers.

So we’re not about to do anything which is an act of self-harm. And really this is ultimately the point here – I mean, tariffs are an act of self-harm.

This is not going to do the American economy any good, and we’re not about to engage in harming the Australian economy.

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Household power bills expected to rise between 2.5% and 8.9% over coming year, Australian Energy Regulator says

Australians should expect to see their power bills go up in price over the coming year, the nation’s energy regulator says.

The Australian Energy Regulator has today its draft default market offer (DMO) for 2025-26, setting a guide for electricity prices in New South Wales, South Australia and south-east Queensland.

The regulator says cost increases “across nearly all components of the DMO” have resulted in prices for residential customers increasing between 2.5% and 8.9% – depending on the region – compared with last year.

Small business customers could see rises between 4.2% and 8.2%, the regulator says.

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