Australian consumers and tourists are facing growing economic challenges following the impact of tariffs introduced under Trump’s trade policies.
The Australian dollar saw a sharp decline yesterday, falling to US $0.5964 — its lowest value since the COVID-19 pandemic in 2020.
Economic analysts warn that this drop will lead to higher costs for imported goods, meaning Australian consumers will now have to spend more on foreign products.
Additionally, international travel is expected to become more expensive for Australians, particularly to popular destinations such as New Zealand, Indonesia, and India.
In global currency markets, the euro and Japanese yen have strengthened against the U.S. dollar, while the Indian rupee and South Korean won have weakened.
