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US president Donald Trump’s second presidency is proving much more disruptive than his first, Australia’s overseas minister Penny Wong mentioned.
Ms Wong, nevertheless, mentioned she remained hopeful that Australia might safe an exemption from upcoming US tariffs on metal and aluminium.
Talking at a enterprise summit, she acknowledged the dimensions of change beneath Mr Trump’s administration however emphasised the power of the US-Australia alliance regardless of some coverage variations.
Ms Wong mentioned since Mr Trump took over the White Home, Australia has needed to take care of a “very completely different American administration”.
“President Trump and his administration envisage a really completely different America on this planet,” she mentioned on the Australian Monetary Assessment Enterprise Summit in Sydney.
“We noticed that within the first Trump administration, however I feel it is clear that the dimensions of change on this administration, the second time period of the Trump administration is much more so.”
Ms Wong mentioned Australia was nonetheless pushing for an exemption from the upcoming 25 per cent US tariffs on metal and aluminium.
“I wouldn’t concede that (we is not going to get a tariff exemption) … we’re nonetheless, placing our case very clearly and our case, I feel is a powerful case,” she mentioned.
“There will probably be areas the place our place and the US place may differ. That’s all the time been the case. Now we have to navigate that sensibly. Now we have to recollect the worth of the alliance,” she added.
Final month it was reported that Donald Trump had agreed to think about exempting Australia from new US metal and aluminium tariffs after a cellphone name with prime minister Anthony Albanese.
Regardless of initially ruling out exemptions, Mr Trump acknowledged Australia’s commerce surplus with the US and its significance as a safety ally. “Now we have a surplus with Australia. One of many few. And the reason being they purchase quite a lot of airplanes. They’re reasonably distant they usually want a number of airplanes,” Mr Trump mentioned on the time.
“I advised him that that’s one thing that we’ll give nice consideration to,” the president advised reporters within the Oval Workplace, including that Mr Albanese was a “very high quality man”.
Mr Albanese known as the dialogue “constructive and heat”.
“We agreed on wording to say publicly which is that the US president agreed that an exemption was into account,” Mr Albanese advised reporters.
Australia’s metal and aluminium exports help US defence pursuits, together with shipbuilding beneath the Aukus pact. Whereas no exemption has been granted but, discussions between each governments proceed.
Mr Albanese mentioned he was assured in securing a take care of Mr Trump. “Given what we’ve already achieved, it’s been a improbable begin to the connection.”
Dr Valdimir Tyazhelnikov, an skilled in worldwide commerce from the College of Sydney’s Faculty of Economics, says of the influence of any tariffs on Australian trade: “The best danger for Australia is a possible international trade war, which might disrupt provide chains and weaken manufacturing exercise throughout East and Southeast Asia. Provided that Japan, Korea, and China are key export locations for Australia, such disruptions might have vital damaging financial penalties”.
Further reporting by companies.
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