Australia’s Treasurer Jim Chalmers has warned the impact of the new US administration’s policies will have a “seismic” impact on the global economy, ahead of his fourth national budget due to be handed down on Tuesday.
Australian Treasurer Jim Chalmers warned that new US policies under a returning President Trump will have a "seismic" impact on the global economy, casting a shadow over Australia's national budget. The budget will include cost-of-living assistance, such as extended electricity bill rebates, and aims to make Australia more resilient to global economic volatility. Chalmers acknowledged global pressures but believes the Australian economy is "turning a corner" due to recent interest rate reductions.
