Peter Dutton selecting politics over Australia with | Australian Markets
Peter Dutton has chosen to play politics as an alternative of backing Australia on the world stage as smelters face blanket US tariffs on metal and aluminium, Labor’s high diplomat claims.
No nation, buddy or foe, was spared from Donald Trump’s sweeping levies once they got here into drive on Wednesday.
However in his response, the Opposition Chief went on the assault, calling Anthony Albanese “weak and incompetent” and saying he didn’t imagine an Australian carve out was unimaginable.
Penny Wong on Thursday referred to as on Mr Dutton to “back Australia”.
Regardless of a dramatic drop in market values in latest days, Donald Trump says his trade insurance policies are already exhibiting outcomes.
“We invite Mr Dutton and the opposition to back Australia here,” the Overseas Minister advised Seven’s Dawn.
“Mr Dutton has a chance to stand up for Australia. Instead, he stands for political opportunity.
“I would say to him, you’ve got a chance over the next few weeks.
“Back Australia, back buying Australian. Back Australia in our campaign to try and ensure that beef … and other products continue to enter the US free of tariffs.”
The US President determined to not grant Australia an exemption from the 25 per cent imposts after telling the Prime Minister it was “under consideration”.
White Home press secretary Karoline Leavitt stated on Wednesday that Mr Trump had “considered it and considered against it”.
“There will be no exemptions,” she advised the 9 papers after a briefing.
Pressed on why Australia – a key defence, intelligence and trade accomplice – was not given an exemption, Ms Leavitt stated: “America-first steel.”
The Albanese authorities has insisted it left no stone unturned in its bid to secure an exemption.
‘Senseless slap in the face’
After the tariffs got here into impact, US Commerce Secretary Howard Lutnick accused Australia of “dumping” low-cost aluminium within the US.
“You’ve got dumpers in the rest of the world. Japan dumps steel, China dumps steel … we’re going to stop that nonsense and bring steel here,” Mr Lutnick advised Fox Enterprise on Wednesday (Thursday AEDT).
“We’re not going to stand for China dumping, Japan dumping, Australia does a lot of aluminium at below cost.
“I mean, this has got to end, and the President is on it, and he’s protecting America.”
It echoed remarks made Mr Trump’s high trade adviser Peter Navarro, who final month accused Australia of “killing our aluminium market”
However the sentiment has not been shared by all in Washington, with Democrat Joe Courtney, the co-chair of the Congressional AUKUS Working Group, again coming to Australia’s defence.
“The US & Australia have enjoyed free trade for 20 years because it’s in America’s best interests,” he posted on social media.
“Indeed, today the US has a TRADE SURPLUS with Australia!
“A month ago, under AUKUS, Australia delivered a $500M check to the US Navy, with $2.5B more on the way. And an Australian steel company has created 5,000 AMERICAN JOBS in 16 states.
“The Trump tariffs that went into effect today are a senseless slap in the face.”
Extra to come back
Keep up to date with the latest news within the Australian markets! Our web site is your go-to source for cutting-edge financial news, market trends, financial insights, and updates on native trade. We offer each day updates to make sure you have entry to the freshest info on Australian stock actions, commodity costs, currency fluctuations, and key financial developments.
Discover how these trends are shaping the longer term of Australia’s economic system! Go to us recurrently for probably the most partaking and informative market content material by clicking right here. Our fastidiously curated articles will keep you knowledgeable on market shifts, investment methods, regulatory adjustments, and pivotal moments within the Australian financial panorama.
