X, Meta, Google, Apple, Amazon lobby group accuses | Australian Markets
Tech giants are the latest highly effective industry to lobby US President Donald Trump forward of his subsequent spherical of tariffs, calling on him to punish Australia if Canberra doesn’t calm down its social media rules.
The Computer and Communications Industry Association has made a formal submission to the White House’s review of US trade coverage, forward of Mr Trump’s plan to announce reciprocal tariffs by April 2.
In their submission, the physique – which represents X, Meta, Google, Apple, Amazon, and different huge gamers – complains concerning the “discriminatory” Albanese Government’s News Media Bargaining Incentive, streaming quotas, social media age ban, and proposed AI regulation.
They accused Australia of “coercing” them into sacrificing their income to “subsidise Australian media companies”, of their latest criticism of the inducement which forces tech corporations to pay Australian media organisations for content material on their platform.
The scheme, changing an older system, was introduced in December and forces platforms to pay whether or not they use news content material or not.
Treasurer Jim Chalmers mentioned the response from Silicon Valley was predictable, particularly as a result of of the closeness of X proprietor Elon Musk to Mr Trump.
“It’s not surprising that the tech giants would have that view,” he informed Sky News on Friday.
“Our job is to make decisions in Australia’s national interest, to protect kids online, for example, or to make sure that there’s a level playing field in our media with our media organisations.”
“It’s self-evident that (tech billionaires) are very close with the US administration. Our focus and our job is to make our case in the US, as we have been doing,” he mentioned.
“A lot of people around the country, not just parents, but including parents, they want to make sure that there are appropriate protections for people online. The tech giants won’t always like that.”
The Government has additionally denied that the inducement is discriminatory.
Unlike different industry teams lobbying the administration, the CCIA doesn’t advocate tariffs on different international locations, however need the President to make use of his workplace to dismantle international obstacles.
“Imposing targeted, reciprocal measures, while on occasion necessary as a negotiating tool, invariably incurs costs and unintended consequences,” the group mentioned of reciprocal tariffs.
The affiliation additionally complained about proposed native content material quotas for American streaming providers, which might pressure the likes of Netflix to fund Australian productions.
“Australia’s online video streaming market is estimated to generate up to $2.3 billion ($3.7b AUD) of annual revenue, with the majority of it earned from US companies,” the CCIA submission mentioned.
“If the Australian government pursues the 20 per cent expenditure mandate it has floated in the past year, that would put this revenue at risk.”
The Government introduced quota plans more than two years in the past, however has backed away from the thought since.
Greens communication spokeswoman Sarah Hanson-Young mentioned Australia “will not be bullied by Trump’s tech oligarchs”.
“As a sovereign and independent country, Australia has the right to make laws that represent our values as a fair society and protect our citizens online. We will not allow tech billionaires to undermine measures that keep our communities safe and cohesive,” she mentioned.
Opposition international affairs spokesman David Coleman additionally criticised the US tech giants for making an attempt to intrude in Australia’s law-making, saying huge tech “doesn’t get to decide what Australia does”.
“We decide what the laws of Australia are,” Mr Coleman informed Sky News.
“We are a sovereign nation. Mark Zuckerberg can say whatever he wants. Frankly, who cares?
“What matters is the law of Australia.”
Meanwhile, American wheat growers joined the checklist of US agricultural our bodies urging Washington to impose tariffs on Australia’s wheat exports.
The Kansas Association of Wheat Growers – representing the nation’s greatest wheat growing state – wrote in a submission to the White House that imported very important gluten and protein had “injured” US farmers.
Specifically itemizing Australia alongside the EU, Canada, Russia and China, the affiliation mentioned imported product had “decreased prices at the farm gate… and has caused unfair competition for domestic vital wheat protein manufacturers in the heartland of the United States” on the similar time as demand had elevated.
“Pressure created by these imports on US wheat protein markets has caused prices to fall, at times below production costs. US production has been forced to scale back, causing job loss and reduced demand and value of US grown wheat,” chief government Justin Gilpin wrote.
“We need help from our president in prioritising and embracing a national wheat security plan for our farmers and agriculture economy.”
Stay 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 present each day updates to make sure you have entry to the freshest data on Australian stock actions, commodity costs, currency fluctuations, and key financial developments.
Explore how these trends are shaping the longer term of Australia’s economic system! Visit us often 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 modifications, and pivotal moments within the Australian financial panorama.