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AAP
AAP
Business
Jacob Shteyman

Full extent of Trump's tariff slap on economy revealed

Economy United States GDP RBA the Reserve Bank Australia Donald Trump China Inflation Unemployment
Donald Trump has taken a wrecking ball to the global economy with his moves on tariffs. (Mick Tsikas/AAP PHOTOS)

Australia's economy will take an $8 billion dollar hit in 2025 as a result of Donald Trump's tariffs, the Reserve Bank estimates in updated economic forecasts.

Inflation is also expected to come in lower than it otherwise would have, the RBA's Statement on Monetary Policy revealed.

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