Australia's Treasurer, Jim Chalmers, said the government will remove import tariffs on a wide range of goods
- an effort to cut compliance costs for businesses
- bring relief to consumers coping with higher living costs
- removing the tariffs will streamline about A$8.5 billion worth of annual trade and save businesses over A$30 million in compliance costs each year
- "(government) will abolish almost 500 nuisance tariffs from 1 July this year ... these reforms are an important step towards simplifying Australia's trading system"
Chalmers also says he sees larger pressure on the budget in the medium term.
AUD opening the week steadily:
