Penguins on standby as Trump ruffles global trade feathers
After seeing what an eclectic group of nations is going to face if they sell goods to American consumers, the penguins (and seals) of the frigid outpost closer to Antarctica than Australia can be rightfully more than a little concerned about what the US president has in store for them – having been on the first list of 'liberation day' tariffs in April.
The only common element to Trump's initial list of 14 countries to be hit with extra tariffs of between 25 per cent and 40 per cent is each runs a trade deficit with the United States. That stretches between $US69.4 billion with Japan and $US126 million with Bosnia and Herzegovina.
The common thread – deficits – is a positive sign (among the bleakness of the economic ramifications of Trump's actions for American consumers) for Prime Minister Anthony Albanese.
In his letters to the 14 nations, Trump made clear they were all about the 'significant trade deficit' between that country and the US. In each missive, he accused the affected nation of having a 'closed trading market' to American products.
Australia, despite a couple of monthly surpluses this year by enormous movements in gold caused by investors fearful of the impact of Trump's policies on US inflation, continues to run a deficit with America.
In Trump's unhinged view of the trading world, an American trade deficit requires retribution. A surplus means a baseline tariff of 10 per cent.
The argument that nations will escape a tariff ignores a key part of Trump's economic plan. He needs the tariff revenue to pay for the Big Beautiful Bill that will blow a $US3.3 trillion hole in the US budget over the next decade.
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The International Criminal Court has issued arrest warrants for two Taliban leaders in Afghanistan, including supreme spiritual leader Haibatullah Akhundzada, accusing them of the persecution of women and girls. The ICC said there were reasonable grounds to believe that Akhundzada and Abdul Hakim Haqqani, chief justice of the Taliban, had committed the crime against humanity of persecution on gender grounds against girls, women and other persons non-conforming with the Taliban's policy on gender, gender identity or expression. Since the Islamist Taliban returned to power in 2021 it has clamped down on women's rights, including limits to schooling, work and general independence in daily life. The Taliban condemned the warrants as an example of hostility towards Islam. "We neither recognise anything by the name of an international court nor do we consider ourselves bound by it," the Taliban government's spokesman, Zabihullah Mujahid, added in a statement. It is the first time judges of the ICC have issued a warrant on charges of gender persecution. "While the Taliban have imposed certain rules and prohibitions on the population as a whole, they have specifically targeted girls and women by reason of their gender, depriving them of fundamental rights and freedoms," the court said. The full warrants and details on the specific incidents they are based on remain under seal to protect witnesses and victims, the court said. NGOs hailed the warrants and called on the international community to back the ICC's work. "The international community should fully back the ICC in its critical work in Afghanistan and globally, including through concerted efforts to enforce the court's warrants," Human Rights Watch International Justice director Liz Evenson, said in a statement. The ICC has been under increased criticism from non-member states such as the United States, Israel and Russia. Last year the court issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for alleged war crimes and crimes against humanity during the Gaza conflict. The ICC also issued an arrest warrant for Russian President Vladimir Putin in 2023 on suspicion of deporting children from Ukraine. Neither Russia nor Israel is a member of the court and both deny the accusations and reject ICC jurisdiction. Last month the United States imposed sanctions on four ICC judges including two who were involved in a ruling that allowed prosecutors to open a formal investigation into war crimes and crimes against humanity in Afghanistan, including alleged crimes committed by American troops. The ICC said it was an attempt to undermine the independence of an international judicial institution that provides hope and justice to millions of victims. The International Criminal Court has issued arrest warrants for two Taliban leaders in Afghanistan, including supreme spiritual leader Haibatullah Akhundzada, accusing them of the persecution of women and girls. The ICC said there were reasonable grounds to believe that Akhundzada and Abdul Hakim Haqqani, chief justice of the Taliban, had committed the crime against humanity of persecution on gender grounds against girls, women and other persons non-conforming with the Taliban's policy on gender, gender identity or expression. Since the Islamist Taliban returned to power in 2021 it has clamped down on women's rights, including limits to schooling, work and general independence in daily life. The Taliban condemned the warrants as an example of hostility towards Islam. "We neither recognise anything by the name of an international court nor do we consider ourselves bound by it," the Taliban government's spokesman, Zabihullah Mujahid, added in a statement. It is the first time judges of the ICC have issued a warrant on charges of gender persecution. "While the Taliban have imposed certain rules and prohibitions on the population as a whole, they have specifically targeted girls and women by reason of their gender, depriving them of fundamental rights and freedoms," the court said. The full warrants and details on the specific incidents they are based on remain under seal to protect witnesses and victims, the court said. NGOs hailed the warrants and called on the international community to back the ICC's work. "The international community should fully back the ICC in its critical work in Afghanistan and globally, including through concerted efforts to enforce the court's warrants," Human Rights Watch International Justice director Liz Evenson, said in a statement. The ICC has been under increased criticism from non-member states such as the United States, Israel and Russia. Last year the court issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for alleged war crimes and crimes against humanity during the Gaza conflict. The ICC also issued an arrest warrant for Russian President Vladimir Putin in 2023 on suspicion of deporting children from Ukraine. Neither Russia nor Israel is a member of the court and both deny the accusations and reject ICC jurisdiction. Last month the United States imposed sanctions on four ICC judges including two who were involved in a ruling that allowed prosecutors to open a formal investigation into war crimes and crimes against humanity in Afghanistan, including alleged crimes committed by American troops. The ICC said it was an attempt to undermine the independence of an international judicial institution that provides hope and justice to millions of victims. The International Criminal Court has issued arrest warrants for two Taliban leaders in Afghanistan, including supreme spiritual leader Haibatullah Akhundzada, accusing them of the persecution of women and girls. The ICC said there were reasonable grounds to believe that Akhundzada and Abdul Hakim Haqqani, chief justice of the Taliban, had committed the crime against humanity of persecution on gender grounds against girls, women and other persons non-conforming with the Taliban's policy on gender, gender identity or expression. Since the Islamist Taliban returned to power in 2021 it has clamped down on women's rights, including limits to schooling, work and general independence in daily life. The Taliban condemned the warrants as an example of hostility towards Islam. "We neither recognise anything by the name of an international court nor do we consider ourselves bound by it," the Taliban government's spokesman, Zabihullah Mujahid, added in a statement. It is the first time judges of the ICC have issued a warrant on charges of gender persecution. "While the Taliban have imposed certain rules and prohibitions on the population as a whole, they have specifically targeted girls and women by reason of their gender, depriving them of fundamental rights and freedoms," the court said. The full warrants and details on the specific incidents they are based on remain under seal to protect witnesses and victims, the court said. NGOs hailed the warrants and called on the international community to back the ICC's work. "The international community should fully back the ICC in its critical work in Afghanistan and globally, including through concerted efforts to enforce the court's warrants," Human Rights Watch International Justice director Liz Evenson, said in a statement. The ICC has been under increased criticism from non-member states such as the United States, Israel and Russia. Last year the court issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for alleged war crimes and crimes against humanity during the Gaza conflict. The ICC also issued an arrest warrant for Russian President Vladimir Putin in 2023 on suspicion of deporting children from Ukraine. Neither Russia nor Israel is a member of the court and both deny the accusations and reject ICC jurisdiction. Last month the United States imposed sanctions on four ICC judges including two who were involved in a ruling that allowed prosecutors to open a formal investigation into war crimes and crimes against humanity in Afghanistan, including alleged crimes committed by American troops. The ICC said it was an attempt to undermine the independence of an international judicial institution that provides hope and justice to millions of victims. The International Criminal Court has issued arrest warrants for two Taliban leaders in Afghanistan, including supreme spiritual leader Haibatullah Akhundzada, accusing them of the persecution of women and girls. The ICC said there were reasonable grounds to believe that Akhundzada and Abdul Hakim Haqqani, chief justice of the Taliban, had committed the crime against humanity of persecution on gender grounds against girls, women and other persons non-conforming with the Taliban's policy on gender, gender identity or expression. Since the Islamist Taliban returned to power in 2021 it has clamped down on women's rights, including limits to schooling, work and general independence in daily life. The Taliban condemned the warrants as an example of hostility towards Islam. "We neither recognise anything by the name of an international court nor do we consider ourselves bound by it," the Taliban government's spokesman, Zabihullah Mujahid, added in a statement. It is the first time judges of the ICC have issued a warrant on charges of gender persecution. "While the Taliban have imposed certain rules and prohibitions on the population as a whole, they have specifically targeted girls and women by reason of their gender, depriving them of fundamental rights and freedoms," the court said. The full warrants and details on the specific incidents they are based on remain under seal to protect witnesses and victims, the court said. NGOs hailed the warrants and called on the international community to back the ICC's work. "The international community should fully back the ICC in its critical work in Afghanistan and globally, including through concerted efforts to enforce the court's warrants," Human Rights Watch International Justice director Liz Evenson, said in a statement. The ICC has been under increased criticism from non-member states such as the United States, Israel and Russia. Last year the court issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for alleged war crimes and crimes against humanity during the Gaza conflict. The ICC also issued an arrest warrant for Russian President Vladimir Putin in 2023 on suspicion of deporting children from Ukraine. Neither Russia nor Israel is a member of the court and both deny the accusations and reject ICC jurisdiction. Last month the United States imposed sanctions on four ICC judges including two who were involved in a ruling that allowed prosecutors to open a formal investigation into war crimes and crimes against humanity in Afghanistan, including alleged crimes committed by American troops. The ICC said it was an attempt to undermine the independence of an international judicial institution that provides hope and justice to millions of victims.
