A. Implementation of a baseline 10% tariff on imports
B. Withdrawal from the World Trade Organization
C. Introduction of a new free trade agreement with China
D. Reduction of existing tariffs on European goods
Answer
Correct Answer: A. Implementation of a baseline 10% tariff on imports
Detail About MCQs
In late March 2025, President Donald Trump announced the implementation of a baseline 10% tariff on imports, with higher rates for key trading partners, including Australia. This move sparked fears of a global recession and led to expectations that central banks, such as the Reserve Bank of Australia, might reduce interest rates to mitigate economic impacts.