Sweet deals, sour times, and Australia’s blind eye to Trumponomics: Big budget deficits thanks to election promises leave little room to move ahead of a gathering tariff war

Treasurer Jim Chalmers’ budget and Opposition leader Peter Dutton’s budget response were both heavy on spending promises, aiming to ease the cost of rent, housing, groceries, electricity, and insurance. And that’s understandable – with an election campaign now underway, both of the major political parties in Australia are dishing out sweeteners in what’s shaping up to be a razor-thin contest...