Paul Zalai, Director of the Freight & Trade Alliance and secretariat of the Australian Peak Shippers Association, said it was impossible to predict the full impact of US tariffs because the goalposts kept moving. "Shipping demand to the US is fluctuating weekly, with vessels and equipment being scheduled inconsistently. This volatility disrupts supply chains globally and creates uncertainty for Australian traders," he said.

Zalai said it was vital that Australia diversify its trade partnerships.

"We must actively pursue emerging markets across Asia and urgently finalise a free trade agreement with Europe," he said."Even with success in these areas, we are still vulnerable to global shipping disruptions. However, there are pressing domestic issues well within our control."

Donald Trump's tariffs cast $1.25 billion shadow over Victoria's budget

The AGE - Donald Trump’s tariffs cast $1.25 billion shadow over Victoria’s budget

Zalai said it was vital that Australia diversify its trade partnerships.

"We must actively pursue emerging markets across Asia and urgently finalise a free trade agreement with Europe," he said."Even with success in these areas, we are still vulnerable to global shipping disruptions. However, there are pressing domestic issues well within our control."