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Tariff rates are capped at 5% for most goods based on what is essentially their FOB value as I mentioned earlier with quite a few attracting a "free" rate so I don't agree with what you are saying. GST still applies to imported goods so nothing has changed there. If you want to look at closing particular loopholes to raise revenue, do some research on multi-national oil companies paying excise on excise equivalent goods such as imported fuel to the government on volumes corrected back to 15C at a rate of 40 cpl but selling to the consumer and recovering that cost at ambient. Correcting fuel back to 15C is an international standard but where the tank temperature of fuel is greater than 15C, the fuel companies are making a killing. If you're interested in learning more, let me know.

BC; I believe you on the oil companies and measures should be taken against them. It is good that you have acknowledged the revenue issue, thanks. What is the WTO rate for tariffs? 13 percent? Not very high BC, at least historically speaking. The yanks had them at an average of 38 per cent for most of the twentieth centrury and grew at 4 per cent annaually. Those were the days, hey?

BC -- sorry correction from me -- it was the nineteenth century -- FDR startted to bring them down in the 1930s.

mate...it's up to the individual countries to apply rates of tariff on imported goods and it's not stipulated by the WTO. Non-tariff barriers such as quotas, licensing and import restrictions can sometimes get the attention of the WTO as well as other unfair trading practices including dumping and countervailing. Australia has had a general rate of 5% for many years and a zero rate on goods which haven't been manufactured here in the preceding 2 years by applying for a concession to Customs/Border Force since the budget of 2005. So there's nothing new in not raising vast sums of revenue on imported goods. There's also no duty or GST on exported goods so we're missing a trick there as well. So my general takeaway is that FTA's are a mixed bag for Australia and I would think the TPP is no different but I'd like to see the detail before sitting in judgement.

I am not concerned about the tariff issues - if you want to tax imports to protect local industries, the countries you are looking to export to are equally entitled to tax their imports from Oz - resulting in higher consumer pricing all round. Unless other countries are dumping - I'll leave that to our resident expert to explain.

What does concern me, however, is the loss of sovereignty issues around companies being able to sue states - Philip Morris (god bless them) I am looking at you. From the little bit I have read about this proposed new Agreement, the conditions have been somewhat improved (in favour of the sovereign states).

And from memory, you cannot just unilaterally opt-out of a trade agreement without due notice.

jackspratt wrote: I am not concerned about the tariff issues - if you want to tax imports to protect local industries, the countries you are looking to export to are equally entitled to tax their imports from Oz - resulting in higher consumer pricing all round. Unless other countries are dumping - I'll leave that to our resident expert to explain.

What does concern me, however, is the loss of sovereignty issues around companies being able to sue states - Philip Morris (god bless them) I am looking at you. From the little bit I have read about this proposed new Agreement, the conditions have been somewhat improved (in favour of the sovereign states).

And from memory, you cannot just unilaterally opt-out of a trade agreement without due notice.

Jack Brazil did just that.Fiat and Vw said they where pulling out of Brazil if the FTA tariffs where not increased. That was also an absolute killer for Holden.Who had spent 80 million on the E85 Ethanol powered engine.As sugar cane is the largest fuel source in Brazil.And the Commodore export had a 20 % tarrif.About 2012.

The unions are forever scratching around for relevance these days so no surprises there a/man.

jack; the problem we have had is that of pulling tariffs while China has had hers up since the fall of Mao. That is what makes Trump snotty to put it mildly.

Did we use Chinese stuff to build the kid's hospital? That has gone very well?

gtrxuone wrote: Jack Brazil did just that.Fiat and Vw said they where pulling out of Brazil if the FTA tariffs where not increased. That was also an absolute killer for Holden.Who had spent 80 million on the E85 Ethanol powered engine.As sugar cane is the largest fuel source in Brazil.And the Commodore export had a 20 % tarrif.About 2012.

I am not sure that Brazil was party to any relevant trade agreement when they increased car tariffs a few years ago. However, increasing the tariffs had the effect of both protecting (ie increasing profits) for VeeDub and Fiat, while at the same time increasing the price to consumers who didn't want to buy the locally produced product.

So it becomes a win/lose situation - the local company and their workers win, while the general consuming public lose.

Not sure about your point re the Holden engine - but as BC said earlier, there are no export tariffs from Oz.

Anchor - again, as above, while import tariffs may advantage local workers, on the other side of the coin, they disadvantage local consumers (which includes the workers).

ArkRoyal wrote: jack; the problem we have had is that of pulling tariffs while China has had hers up since the fall of Mao. That is what makes Trump snotty to put it mildly.

Did we use Chinese stuff to build the kid's hospital? That has gone very well?

Ark and it won't be like RPH,Charlie's,Freo +_Princess Margaret. It won't be built to last.They will be in there fixing and repairing forever.A polished D#g t#rd.
Jacksprart didn't Brazil walk out of there FTA with South Korea in 2012.Its just about a balance and getting it right.Brazil's auto manufacturing also exports components around the Globe. Including the drive lines and transmissions for those big American ute/trucks.F150.ram,Silverado.Tundra.I still believe Aust was better building cars than Submarines.
On Submarines massivly already over budget.And will be outdated before they are Built.We are we doing this because we have de- industrialised to quickly as a nation.