Amazon received approximately $600 million in tariff refunds in Q2, following a Supreme Court ruling that invalidated tariffs imposed by former President Trump. Some refunds will be passed to customers, while the rest will fund lower prices.
A news briefing highlights the Christian Brothers' agreement to compensate abuse survivors, new US trade tariffs on Australian exports, and domestic concerns over an impending El Niño summer, alongside other headlines including a Socceroos star's alleged drug test and airport advertising disputes.
Donald Trump's administration imposed new 12.5% tariffs on Australian exports, citing a failure to combat forced labor, a claim the Albanese government disputes. Australia's trade minister called for immediate removal, stating the tariffs are unjustified and inconsistent with their free-trade agreement.
Bitcoin (BTC) approached $67,000, building on gains at the Wall Street open, as crypto markets mirrored resilient US stocks. This occurred despite escalating US-Iran conflict and proposed US international trade tariffs, with analysts warning BTC needs to reclaim its 21-week SMA to exit the bear market.
EU lawmakers reached a provisional agreement to remove import duties on U.S. goods, averting potential higher tariffs threatened by President Trump. The deal includes safeguards for European industry and a deadline for the U.S. to reduce steel and aluminum derivative tariffs.
