Malcolm Turnbull explains what Trump 2.0 means for Australia
Nov 7, 2024
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Former Australian Prime Minister Malcolm Turnbull shares his insider perspective on what a potential Trump return means for Australia. He discusses strategies current PM Anthony Albanese should adopt, revealing Trump’s unpredictable nature behind closed doors. Turnbull highlights the economic impacts of Trump's tariffs and his non-interventionist foreign policy. He also delves into the upcoming Australian election, comparing it to American politics and analyzing the rise of strongman dynamics in global democracy.
Malcolm Turnbull advises that Prime Minister Albanese should adopt a strong approach in dealings with a potentially unpredictable Trump 2.0 to avoid increased bullying.
The second Trump presidency could severely impact Australia's economy, especially through potential tariffs on imports that threaten global trade.
Deep dives
Implications of Trump's Return for Australia
A second Trump presidency will present significant challenges for Australia, potentially being wilder than his first term. Former Prime Minister Malcolm Turnbull advises current Prime Minister Anthony Albanese to adopt a strong stance rather than trying to flatter Trump, as he did during his own interactions with the former president. Turnbull emphasizes that Trump's personality demands respect through strength; giving in to his demands will only lead to increased bullying. He cites previous successful negotiations, such as exemptions from tariffs on steel and aluminum, achieved by standing firm on important issues for Australia.
The Economic Impact of Trump's Policies
Trump's intention to impose tariffs on all imports, particularly impacting Australia, could severely hinder global trade and diminish Australia’s export opportunities to the US. Turnbull warns that Australian industries must argue for exemptions from these tariffs, similar to strategies he implemented in 2017 and 2018. He explains that the Australian economy, being reliant on free trade, could suffer if tariffs lead to a general slowdown in trade, especially given Australia's extensive trade ties with China. The knock-on effects of reduced trade with China could hinder Australia's exports of essential resources such as iron ore and coal.
Trump's Approach to International Conflicts
Trump's track record suggests he is not a warmonger, having opposed US involvement in wars like Iraq and Afghanistan. While claiming he would settle conflicts such as the war in Ukraine quickly, it raises concerns about the potential concessions he might force Ukraine to make to Russia. Turnbull notes that peace in the Middle East has eluded world leaders for generations, implying skepticism about Trump's ability to broker lasting peace. The underlying danger lies in Trump's unpredictable temperament that could escalate tensions in high-stakes scenarios, including nuclear threats.
What does Donald Trump returning to the White House mean for Australia?
One man with a deep insight into this question is former Australian Prime Minister Malcolm Turnbull, who Trump in during his first term.
Speaking with the Briefing’s Bension Siebert, Turnbull gives his advice on how current PM Anthony Albanese should deal with him, reveals what Trump is like behind closed doors, and explains what Trump 2.0 means for Australia’s next election, our economy and the world.