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US President Donald Trump is hitting Canada and Mexico with 25% tariffs this weekend. Goods from China will get a 10% tariff. The European Union and Colombia are in the firing line too. It is a move that is set to upset global trade markets and make the goods we all buy more expensive. It is a move that would have huge implications for America’s economy and its relationship with its closest neighbours. President Trump is promising it’s just the beginning, and that this won’t make goods more expensive for Americans. It’s been a long time since most developed countries have used tariffs in this way, but there is one US ally with a recent memory of something like it. In this episode of If You’re Listening, what can we understand about tariffs from Australia’s recent past? #ifyourelistening #areyoulistening #trump Subscribe: https://ab.co/3yqPOZ5 Read more here: Welcome to ABC News In-depth, where you'll find our long-form journalism and other videos to help you understand what's going on in the world around you. Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 For more from ABC News, click here: https://ab.co/2kxYCZY Get breaking news and livestreams from our ABC News channel: / newsonabc Like ABC News on Facebook: / abcnews.au Follow ABC News on Instagram: / abcnews_au Follow ABC News on Twitter: / abcnews Note: In most cases, our captions are auto-generated. #ABCNewsIndepth #ABCNewsAustralia