Anthony Albanese holds meetings with Donald Trump’s economic team after G7 one-on-one was abandoned

Anthony Albanese has held meetings with Donald Trump’s top economic team focused on tariffs, trade and critical minerals after his much-anticipated one-on-one was abandoned.

The US president had left G7 leaders on the world stage yesterday, cutting an early exit to convene a National Security Council meeting over the escalating Israel-Iran conflict.

Instead, the Prime Minister met with Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer, and Donald Trump’s principal economic adviser Kevin Hassett.

The world leader’s bilateral meeting had been scheduled to meet on Wednesday AEST where Mr Albanese was expected to raise Australia’s case for exemptions from US trade tariffs.

It is understood that the US administration officials had sought out world leaders whose bilateral meetings were cancelled after Mr Trump’s exit and had two 20-minute sessions with the PM.

Speaking in Kananaskis, Canada on Wednesday, Mr Albanese said it was “understandable” that Mr Trump had to leave the G7 summit early and he was already in discussions to reschedule the meeting.

“I had a meeting this morning with US Secretary of the Treasury Scott Bessent, which was a good opportunity to put forward Australia’s position on tariffs,” the PM told a press conference on the sidelines of the G7.

He said in the further meeting with Mr Greer and Mr Hassett, he reminded the US officials of the trade surplus America has had with Australia since the 1950s.

“We made the point very clearly to the American Trade Representative and to the National Economic Council and of the Treasury Secretary that the FDA has delivered for both Australia and the United States for a couple of decades now,” he said.

Using all the tools in his arsenal, the PM also flagged Australia’s critical minerals, saying it had “essentially the periodic table” of rare earths.

“We also discussed how Australia can support the United States on critical minerals,” he said.

“Australia has endorsed the G7 Critical Minerals Office Action Plan today which increases cooperation to be of standards-based markets, mobilise capital and promote innovation.

“This opens up the prospect of further inspections of the Australian critical minerals and rare earths industry.”

Alongside Australian beef and steel, the PM had also raised the News Bargaining Code in the meetings with US trade officials.

Mr Albanese said he would “continue to engage constructively” and flagged that his Trade Minister Don Farrell was still locked in trade talks with Mr Greer.

Latrobe University Professor Emeritus Joseph Camilleri, however, said the PM’s cancelled meeting was “symbolic of a government clutching at straws” as Australia was “adrift” among unfolding chaos abroad.

“The reality is that Trump’s America has become a thoroughly unreliable ally,” he said.

“For all of Trump’s grandiose statements, the United States has been singularly unable to exercise the kind of leadership that can help resolve conflicts in the Middle East or anywhere else.

“Instead the United States has set itself on a collision course with China, our largest trading partner by far.

“As many are suggesting, it may be time for Australia to initiate a review of the ANZUS Treaty now more than 70 years old. We have no option but to regain our bearings in what is a radically changing world.”