Ace Breaking News – Prime Minister Anthony Albanese says he is confident Australia will not suffer any adverse trade tariffs from the United States when Donald Trump is sworn in for his second term as President of the United States of America.
Contact 7.30
Trump’s inauguration will take place on Tuesday morning AEDT and with it comes uncertainty over what will occur, such is Trump’s penchant for signing executive orders.
During his first presidency it took him just days to remove the US from the Trans-Pacific Partnership trade deal on the basis of it being a “great thing for the American worker”.
That order was one of 220 in his four-year term.
Trump and former prime minister Scott Morrison had a good relationship. (AP: Susan Walsh)normal
Ahead of his second presidency Trump has proposed a 60 per cent tariff on Chinese-made products, threatened bordering countries Canada and Mexico with 25 per cent tariffs as retribution for what he says are porous borders and proposed 10 per cent tariffs on imported goods from almost every other nation.
The move is to raise revenue, revive local manufacturing, and give American companies an advantage.
“We’ll impose new tariffs so that the products on our stores will once again be stamped with those beautiful words ‘made in the USA,’” Trump said at a recent press conference.
Despite those plans, Mr Albanese told 7.30 that Trump assured him the relationship would remain “perfect”.
“I made the point that the United States has enjoyed a trade surplus with Australia since the Truman presidency,” Mr Albanese said.
Prime Minister Anthony Albanese is confident in a good relationship with the US under Donald Trump. (ABC News: Matt Roberts)normal
“It has been there for a long time. The United States is a major investor here in Australia and the relationship between our two economies is so important.
“I’m very confident that we will work these issues through because they’re in the interests of both Australia and the United States.
“He said that we will have a ‘perfect relationship’.”
Asked if he had been given a specific assurance from Trump about no extra tariffs being levied against Australia, the prime minister said he had not but suggested that being a partner on multiple fronts would lead to a continued good relationship.
“I expect that the relationship between Australia and the United States will remain strong,” Mr Albanese said.
“We are both Five Eyes partners, we have the US Alliance, we have the free trade agreement.
“Also Australia plays a critical role in this region through our engagement with ASEAN and through our engagement with the Pacific Island forum. Australia is a middle power, but we’re an important part of this region.”
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