7am Inside Labor’s plan to fight tariffs
Feb 9, 2025
Karen Barlow, Chief Political Correspondent for The Saturday Paper, gives keen insights into Australia's political landscape amidst global trade tensions. She discusses how Trump's tariffs on China pose a significant threat to the Australian economy, impacting exports and everyday goods. Barlow highlights Australia's efforts to navigate these turbulent waters while managing domestic political pressures. She also sheds light on the broader implications for international relationships, particularly with the U.S. and China, as Australia seeks to adapt and respond effectively.
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Trade War Impact
- Australia, a smaller player in global trade, feels the impact of the US-China trade war.
- Trump's tariffs on China could affect Australian iron ore exports and consumer goods prices.
Farrell's Approach
- Australia's Trade Minister, Don Farrell, projects an image of calm amidst trade tensions.
- Farrell emphasizes a "cool, calm, and collected" approach to negotiations, contrasting with Trump's tactics.
Government Preparation
- The Australian government, anticipating trade impacts, has conducted modeling with Treasury.
- Multiple ministers, including Penny Wong and Richard Marles, have engaged in discussions with US counterparts.