Politics Now Can Albo get a tariff deal with Trump?
Jun 4, 2025
The Opposition leader is pushing for tariff exemptions similar to the UK's recent deal with the Trump administration. Prime Minister Albanese is adamant that these tariffs are damaging to Australia’s economy. Meanwhile, the narrow victory of Independent Teal candidate Nicolette Boele raises questions about the future of the Liberal party's moderate faction. The discussion also addresses the pressure to boost defense spending and the complexities of balancing national security with social service demands amidst economic uncertainty.
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UK Gets Partial Tariff Exemption
- The UK obtained a partial tariff exemption from the Trump administration's steel and aluminium tariffs, paying 25% instead of 50%.
- Australia faces a tougher tariff rate with uncertainty from Trump's changing trade policies, complicating planning and negotiations.
Albanese's Firm Tariff Stance
- Prime Minister Albanese calls the US tariffs "economic self-harm" and refuses to grovel for a deal.
- He plans to raise this firmly with Trump at the upcoming G7 summit, not linking defence spending to tariff negotiations.
Defence Spending Debate Heats Up
- US Defence Secretary's call to raise Australia's defence spending to 3.5% GDP sparked debate; Australia currently at ~2%.
- Defence Chief Admiral Johnston signals maximum current spending and the pressure of needing more resources amid evolving security threats.