Tariffing in, taxing out
NAB's Sally Auld is mystified by Trump's latest move to allow AI chip manufacturers to buy their way to exporting to China
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 12th August July 2025
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There’s been very little market movement despite some surprising news. First, President Trump announced a 15% tariff on exports from NVIDIA and AMD for AI chips headed to China. NAB’s Sally Auld says it’s a surprising move that a restriction supposedly on national security grounds has been foregone in exchange for a government revenue stream. Secondly, the 90-day truce on China’s tariffs, due to finish today, has been given another 90 days. And concerns continue about what will happen at the Trump Putin meeting in Alaska on Friday, President Zelensky says the Russian President is buying time and he is now amassing more troops on the border ready for a fresh onslaught. Today the focus will be on US inflation numbers and forecasts from the RBA after their expected rate cut today.
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