Joe Hockey reckons resources industry will help Australia get a better deal from Donald Trump

Anthony Albanese will get a better trade deal from Donald Trump by taking Woodside Energy, Rio Tinto and BHP to the meeting and spruiking Australian investment into the US, former ambassador Joe Hockey has declared.

The Prime Minister will be readying for a tough negotiation with the US President after the White House ramped up taxes on trading partners.

Beef sales and even the Pharmaceutical Benefits Scheme are expected to be in America’s sights.

But Mr Hockey told the Australian Energy Producers conference in Brisbane on Tuesday that Australia could leverage off the resources industry in talks.

Perth-based Woodside pressed go on the $27 billion Louisiana LNG project in April, marking a huge push into North America by the company.

ASX-listed Rio Tinto and BHP want to build the Resolution Copper project in Arizona, which would boost supply of a key mineral for the energy transition.

Asked whether Mr Albanese should take Woodside boss Meg O’Neill to the meeting, Mr Hockey said “absolutely”.

He said Mr Trump would “love” the cash being spent on the project — and added that mining giants BHP and Rio should also head to the White House.

“Louisiana is so important to the Republican Party and Woodside is investing in Louisiana,” Mr Hockey said.

“That will mean more to him than $200b going into California.”

He said the investments would “make a huge difference” to Mr Trump and that would “have a material outcome (for) Australia”.

Mr Hockey — also a former treasurer — brushed off concerns that the new administration might junk the AUKUS deal, the pact to buy nuclear submarines crucial for Australia’s defence.

“I can tell you, the president is absolutely committed — not to AUKUS, but committed to the fact that Australia is investing in the US submarine program and is going to get submarines in return,” he said.

“The transaction is more important than the written document.”

Australia will be in a huge queue of countries trying to clean up Mr Trump’s trade mess after his administration sparked financial chaos with a shock bag of tax hikes in early April.

He has since dialled down the tariffs and agreed a 90-day negotiating period with China.

Mr Hockey was optimistic the fight between Mr Trump and China’s Xi Jinping would be resolved.

“The fundamental is that both know that they need each other,” he said.

“They cannot have growing economies without each other.”

The reporter travelled to the AEP Conference as a guest of the lobby group