Australian news and politics live: Prime Minister Anthony Albanese unveils economic vision for second term

Industry leaders are calling on Prime Minister Anthony Albanese to hold firm in trade negotiations with the US as Donald Trump’s 90-day tariff freeze nears its end.

With the US recently striking a tariff deal with Vietnam, Australian exporters remain concerned about ongoing uncertainty and the risk of increased costs.

Despite the Albanese government proposing $50 million in support for affected sectors, business groups are eager to see strong leadership and clear allocation of funds.

Economists warn that even if more deals are reached, “exporters and importers are likely to continue facing high uncertainty for months and quarters to come.”

“Fundamentally, Australia has nothing to apologise for here,” said Andrew McKellar, Chief Executive of the Australian Chamber of Commerce and Industry.

“Honestly, I don’t think there’s anything more that could have been done by the Australian government, here or through our mission in Washington.”

National Farmers’ Federation president David Jochinke added, “We’ve stood staunchly behind the federal government’s principles-based approach when negotiating trade and tariffs and encourage them to continue this method.”