Navigating tariff costs and trade disruption for Australian business

The challenges of the global trade environment are unlikely to resolve in the short term and will require attention and agility through this period of uncertainty, as discussed by David Sofrà, Daniel Rae and Tim Keeling.

The General Agreement on Tariffs and Trade (GATT) has underpinned the multilateral international trade system since 1948, preceding the creation of the World Trade Organisation (WTO) in 1995. Two fundamental principles of the GATT include: non-discrimination, under the most favoured nation and national treatment articles; negotiation of tariffs on a reciprocal and mutually advantageous basis. The US tariffs of 2025 challenge these principles and the system that has facilitated trade f...

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Authors: David Sofrà, Daniel Rae,

Published Date: 10 April 2025