Prime Minister Anthony Albanese has strongly criticised the “Liberation Day” tariffs announced by US President Donald Trump, describing them as actions that are “not the act of a friend.” This new policy imposes a baseline tariff of 10% on Australian exports to the US, which Albanese condemns as “totally unwarranted.” He articulated that while the tariffs were somewhat anticipated, they lack rationale and conflict with the foundational partnership between the two nations.
Albanese remarked that if a tariff were truly reciprocated, it would be zero rather than the current 10%. He made it clear that the Australian government will resist implementing any reciprocal tariffs, standing firm in advocacy for Australian exporters affected by these measures.
The Prime Minister highlighted the potential repercussions of these tariffs on the long-standing friendship between Australia and the US, asserting that the Australian populace is justified in viewing such actions as detrimental to their free and fair trading relationship. He cautioned that this could alter public perception of the bilateral relationship.
In a recent announcement, Trump expressed intentions to target Australian beef imports. He remarked on the perceived unfairness in trade, claiming that while Australia imports significant quantities of US beef, it simultaneously restricts the entry of American beef into its market. Trump stated, “They don’t want it because they don’t want it to affect their farmers,” indicating that the US would reciprocate with its own trade restrictions.
In response to the looming tariffs, Albanese reaffirmed Australia’s commitment to diversifying its trade markets. He noted efforts to expand exports of Australian beef and red meat, strengthening trade ties with the UK, European Union, and Indonesia. Furthermore, he highlighted the elimination of over $20 billion in trade barriers with China as part of Australia’s strategy to maintain robust trading relationships.
Trade Minister Don Farrell added that the new tariffs might pave the way for a trade agreement between Australia and the European Union, suggesting that the circumstances may have changed enough to enable negotiations for a more favourable free trade agreement.
Trump announced that the global tariffs would take effect “from midnight,” which, depending on the US location, translates to various afternoon times across Australia. The short notice leaves little time for affected importers and exporters to prepare, though the potential for these tariffs had been signalled previously.
Overall, Albanese’s government is determined to uphold Australia’s trade interests amidst these developments while seeking to build new avenues for commerce.