Australian Government Plans to Abolish 500 ‘Nuisance’ Import Tariffs

The federal Labor government plans to abolish nearly 500 tariffs from July 1 this year on a large range of imported goods. These include tariffs on dishwashers, hand tools, fridges, clothing, and menstrual and sanitary products. The move is aimed at reducing compliance costs and red tape for businesses and improving productivity. Abolishing these tariffs will save businesses more than $30 million ($19.9 US dollars) in compliance per year, the government said, and streamline $8.5 billion worth of annual trade. The Treasury described the reform as the “biggest unilateral tariff reform in at least two decades.” A consultation on these reforms is now taking place and submissions will close on April 1. A full list of the tariffs to be abolished will be provided in the budget....