Unhinged protesters descend on the White House as Netanyahu nominates Trump for Nobel Peace Prize
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West Australian
18 minutes ago
- West Australian
Australian news and politics live: Labor focused on cost-of-living relief after RBA decision to hold rates
Scroll down for the latest news and updates. US President Donald Trump has indicated a potential 200 per cent tariff on pharmaceuticals, which are among Australia's largest exports to the US. However, he said manufacturers would be given time to relocate production to America to avoid the tariff. The US president also mentioned that copper could face a 50 per cent tariff. Speaking to reporters before a cabinet meeting, Mr Trump said drug manufacturers would receive a grace period to move their operations to the US. 'We're going to give (drug manufacturers) about a year, a year and a half to come in, and after that, they're going to be tariffed,' he said. Read the full story here. As digital payments rise, Australia plans to mandate cash acceptance for essential goods and services starting in 2026. Currently, businesses can refuse cash, but that will soon change. It comes as the New Zealand First party introduced a bill requiring businesses to accept cash payments for purchases under NZ$500. Housing Minister Clare O'Neil says 'that's something that the Government is actually looking at at the moment. The Treasurer announced we're going to mandate that businesses across the country for essential goods and services do need to continue to accept cash,' while speaking to Sunrise. 'The Government absolutely recognises for lots of Australians it's important to them. We see a lot of elderly people who for them cash is their mainstay.' 'It's important we operate in an economy where people have choices. We're looking at the exact implementation of this at the moment. We think cash is actually still really important.' Housing Minister Clare O'Neil has acknowledged the disappointment felt by millions of Australians after the Reserve Bank's surprise decision to keep interest rates on hold at 3.85 per cent. 'Millions of Australians were hoping for a rate cut yesterday and as you say, that is very much what all of were predicting. But the RBA has chosen to keep rates on hold. What the RBA told us yesterday is this is about pace not direction. The RBA has already cut interest rates twice this year and kind of indicating that they want to keep moving on that but they're being very cautious,' she told Sunrise on Wednesday. Ms O'Neil stressed that the government's main focus remains easing cost-of-living pressures, highlighting new supports like increased childcare benefits, bill supplements, and wage rises for minimum wage earners. She added, 'It shows we're over the worst of the cost of living issues facing the country but we've still got a long way to go. The Government is firmly focused on that task.' 'I want my community and people around the country not to be struggling in the way they are, so of course I was hoping for an interest rate decrease from the Reserve Bank, but we are very respectful of the independence of this institution. There's a good reason we don't put politicians in charge of setting interest rates.'
ABC News
27 minutes ago
- ABC News
More than 160 still missing from Texas floods that have killed more than 100
More than 160 people are believed to still be missing in Texas in the aftermath of the flash floods that killed more than 100 over the July Fourth weekend. Governor Greg Abbott said on Tuesday that many of those still missing had been staying in the state's Hill Country but had not registered at a camp or hotel. The governor spoke at a news conference after taking a helicopter tour of the affected area. "We will not stop until every missing person is accounted for," Mr Abbott said. The lowlands along the Guadalupe River in central Texas are filled with youth camps and campgrounds that are especially popular around summer holidays, which has made it more difficult to know how many people are missing. The big jump in the number of missing came after authorities set up a hotline for families to call. The 161 missing were believed to be in Kerr County, where most of the victims have recovered, Mr Abbott said. Mr Abbott said US President Donald Trump had pledged to provide whatever relief Texas needed to recover from the flooding. He read out what he said was a text from US Health and Human Services Secretary Robert F Kennedy Jr in which Mr Kennedy pledged to declare a public health emergency. Mr Abbott said of Mr Trump: "He could not stop talking about how sad he was for all the little girls who have lost their lives." The president plans to visit the state on Friday. AP
News.com.au
35 minutes ago
- News.com.au
Trump threatens fresh tariffs of up to 200pc on key Australian exports
Donald Trump says he might slap tariffs of 200 per cent on pharmaceuticals and 50 per cent on copper - two of Australia's key exports. Australia is among the top copper producers in the world, but the bulk of exports go to southeast Asia. Last year Australia exported just $55m in copper to the US. Pharmaceuticals is another matter, with Australia's exports to the US totalling north of $2bn in 2024. The US President announced the new levies at a cabinet meeting overnight. 'I believe the tariff on copper - we're going to make it 50 per cent,' Mr Trump told reporters, with officials later adding it would come into effect by August. The timeline for the new rate on pharmaceuticals could be later, Mr Trump said. 'We're going to give (drugmakers) about a year, a year and a half to come in, and after that, they're going to be tariffed,' he said. 'They're going to be tariffed at a very, very high rate, like 200 per cent. 'We'll give them a certain period of time to get their act together.'
