Australia records rare US trade surplus on tariff day

Australia has recorded a rare trade surplus with the United States for the second consecutive month, on the same day as President Donald Trump announced 10 per cent tariffs on Australian exports. The federal government had pointed to the nation’s historic trade deficit with the US as a reason why it should be spared from Mr Trump’s trade sanctions. But February’s $1.1 billion surplus reported by the Australian Bureau of Statistics on Thursday, following a $1.7 billion surplus in January, undermines those claims. It is unlikely a continuation to Australia’s historical deficit would have made a difference, given no countries…