Albanese Government vows to fight for Australian businesses in face of looming Trump trade tariffs
Australia will stand firm on its trade principles and fight hard for market access for Australian firms in the face of incoming US President Donald Trump’s threats of economic coercion against allies, Assistant Trade Minister Tim Ayres has pledged.
Mr Trump this week sparked an outcry in Canada when he suggested using “economic force” to make the nation America’s 51st state – to which Prime Minister Justin Trudeau responded there wasn’t “a snowball’s chance in hell.”
Asked about the President’s language and possible impending global trade war on ABC Radio National Breakfast, Mr Ayres said it was in the country’s interest to work with bilateral partners for a “rules-based trade system that means trade is predictable.”
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By continuing you agree to our Terms and Privacy Policy.“It’s in our interest to advocate for access to markets for Australian businesses, and that’s what the Albanese government will continue to do bilaterally, directly with our with our friends in the United States, but also in the global trading system,” he said.
“Trade exposed firms in Australia employ one in four Australian workers. Firms that export overseas generate better jobs and better pay,” he added.
“We are absolutely focused on delivering, as we have over the course of the last almost three years, on expanding Australia’s trade relationships with the world and fighting for market access for Australian firms and Australian workers.”
The Government believes it has a strong hand to deal with the incoming Trump administration, which has already threatened to slap aggressive tariffs on Australia’s major trading partner - China.
Mr Ayres’ comments follow statements by Prime Minister Anthony Albanese that his close ties with Indo-Pacific leaders place him in a better position than opposition leader Peter Dutton to establish a productive relationship with the US President.
Mr Albanese told The Australian that his regional relationships would be viewed by Mr Trump as an asset in an era of competition between major powers.
He signalled he would not change his approach with China if Mr Trump launched a trade war and pointed to the reopening of trade with Beijing – which had slapped punishing tariffs on Australian commodities – as an economic win for his Government.
“We are a sovereign nation and we will act in terms of our economic interest,” Mr Albanese said. “We believe in free trade, not protectionism.
Mr Ayres pointed to the “very significant step” last year of China removing formal impediments to Australian wine exports and said the Government would continue to support the industry to rebuild its market there.
Beijing finally ended its tariffs on Australian wine in April, but only after crushing rates as high as 218.4 had had catastrophic impact.
The looming threat of destabilising international trade war under President Trump has caused jitters in Australia, but Mr Ayres sought to play down concerns.
“The most important things here is discipline and being calm and focused on what is in the national interest and not being commentators about these things, but being focused on our job, which is to deliver for Australian exporters,” he said.
