Meat and pharmaceutical exporters will be hit hardest if Donald Trump follows through with threats to levy "reciprocal" tariffs on countries that charge taxes on American products, putting Australia and its GST at risk of retribution.
The US president said his new tariffs, flagged shortly after signing off on 25 per cent tariffs on steel and aluminium, would level the playing field for American companies, who were being targeted by "unfair and unbalanced" practices by trading partners.
