Peter Jolly, former head of economic research at the National Bank of Australia, said he is less optimistic and is more inclined to think that this is Trump's fulfilment of a threat to reshape global trade flows through tariffs. He said that the lesson Australia has learned from this is that relying on the 20-year-old free trade agreement signed with the US has hardly any consolation effect. “Trump's statement today shows that these agreements mean little to him.”

Peter Jolly, former head of economic research at the National Bank of Australia, said he is less optimistic and is more inclined to think that this is Trump's fulfilment of a threat to reshape global trade flows through tariffs. He said that the lesson Australia has learned from this is that relying on the 20-year-old free trade agreement signed with the US has hardly any consolation effect. “Trump's statement today shows that these agreements mean little to him.”