US tariffs live updates: Donald Trump singles out Australia and announces huge blow in bombshell 'Liberation Day' announcement - here's what tariff hike means for Aussies

Donald Trump delivered his Liberation Day address at 7am (AEDT) on Thursday morning.

Australia was among the several countries singled out by Trump as he announced new global tariffs.

Follow Daily Mail Australia’s live coverage. 

Australia hit by 10 per cent tariffs

Australia will not escape the global tariffs announced by Trump on Thursday morning.

A table of reciprocal tariffs was released following the announcement showing Vietnam and Cambodia would be among the worst hit countries.

Australia will cop a tariff of at least 10 per cent on all its goods exported to the US.

The Australia-US free trade agreement, which was signed two decades ago, previously prevented tariffs being applied to goods sent overseas.

14563717 Trump's Liberation Day tariff announcement

Trump takes aim at Australia and announces beef ban

Donald Trump took aim at the Australia’s ban on fresh beef imports in his Liberation Day address.

‘Australia bans — and they’re wonderful people, and wonderful everything — but they ban American beef,’ he said.

‘Yet we imported $US3 billion of Australian beef from them just last year alone.

‘They won’t take any of our beef.

‘They don’t want it because they don’t want it to affect their farmers and you know, I don’t blame them but we’re doing the same thing right now starting at midnight tonight, I would say.’

Mandatory Credit: Photo by Bonnie Cash/UPI/Shutterstock (15235473g) President Donald Trump announces "Liberation Day" tariffs on nearly all U.S. trading partners during a "Make America Wealthy Again" event in the Rose Garden of the White House in Washington, DC on Wednesday, April 2, 2025. The new tariffs are an effort to boost U.S. manufacturing output and to strike back at what President Trump calls unfair trade policies. President Trump Announces Tariffs in Washington, District of Columbia, United States - 02 Apr 2025
WASHINGTON, DC - APRIL 02: U.S. President Donald Trump arrives to speak during a "Make America Wealthy Again" trade announcement event in the Rose Garden at the White House on April 2, 2025 in Washington, DC. Touting the event as "Liberation Day", Trump is expected to announce additional tariffs targeting goods imported to the U.S. (Photo by Andrew Harnik/Getty Images)

Liberation Day – what to expect

Donald Trump will reveal the new tariffs on Thursday morning in what is known as Liberation Day.

A White House spokesman has warned the tariffs will take effect immediately.

The tariffs are expected to cover all countries and match the tariffs other nations have enforced on US imports.

Trump will make the announcement at 4pm on Wednesday (US eastern time) – which will be 7am on Thursday for Australia.

Finance guru issues recession warning

Finance guru Mark Bouris has issued a stark warning that a US recession would have a butterfly effect on Australia’s economy.

The warning comes as economists hold their breath in anticipation of Donald Trump’s new tariffs on Australian agricultural and pharmaceutical exports.

The businessman said that the impact could be ‘messy’, not only for the US but for global trading partners like Australia.

Why Aussie consumers could soon be paying DOUBLE

Australian consumers could end up paying more than $50 a kilo for steak at the supermarket as a result of Donald Trump’s tariffs on agriculture exports, farmers say.

A kilogram of rump steak at Woolworths is now selling for $28.

But the Australian Food Sovereignty Alliance, representing 350 small-scale farmers, fears rump steak will end of costing Australian consumers $56 at the supermarket.

Anthony Albanese dines with sports star – and why Aussies aren’t happy

Anthony Albanese was spotted dining with golfing legend Greg Norman ahead of Donald Trump announcing his new global tariffs.

Norman is a close friend of Trump and Mr Albanese is understood to have sought out the meeting.

Mr Albanese shared a selfie of the pair to his Instagram account on Wednesday night.

‘Great to catch up with Greg Norman tonight in Melbourne,’ the caption read.

Many social media users were left unimpressed.

‘Greg! You’re better than that,’ one wrote.

Another added: ‘Yeah, nah. He supports Trump.’

Donald TrumpAnthony Albanese

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