Shadow Treasurer Angus Taylor Demands Economic Analysis of Trump Tariffs
Shadow Treasurer Angus Taylor has criticized the government's economic management, questioning why Treasury has not conducted comprehensive modeling on the potential impact of retaliatory tariffs following recent U.S. trade measures under President Trump.
In pointed remarks, Taylor suggested the Treasurer lacks understanding of economic fundamentals and history, citing a failure to request critical economic analysis from Treasury officials.
"You would have thought a Treasurer who understands economics, understands economic history, and he clearly doesn't, he clearly doesn't, would say to the Treasury Secretary, can you please have a look at this?" - Shadow Treasurer Angus Taylor
The opposition finance spokesperson emphasized three key areas of concern requiring immediate assessment:
Key Economic Concerns:
Potential domestic economic impact of reciprocal tariffs
Broader consequences for global economic stability
Specific vulnerabilities within the Australian economy
Taylor revealed he had personally spoken with the Treasury Secretary and confirmed no such analysis had been requested by the government, intensifying criticism of the administration's preparedness for potential trade disruptions.
"What's it mean for our economy? What's it going to do to the global economy? And most importantly, what's it going to do to the Australian economy? He hasn't asked for that." - Shadow Treasurer Angus Taylor
The comments come amid escalating concerns about Australia's economic outlook, with Independent Senator Jackie Lambie separately warning that the country was already showing signs of recession before the U.S. tariff announcements.
Economic analysts note that comprehensive modeling would typically examine sectoral impacts, currency effects, and potential supply chain disruptions resulting from changing trade conditions with major partners.
The Treasury Department has not yet responded to Taylor's allegations regarding the absence of economic modeling.
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