Trade Minister Don Farrell says meeting with US | Australian Markets

Trade Minister Don Farrell has detailed the dialogue he had with his US counterpart Jamieson Greer, revealing he had the “greatest confidence” in Anthony Albanese during an anticipated meeting with Donald Trump subsequent weekend.

Senator Farrell spoke to the US Trade Representative whereas in Paris final week and characterised the speak as “friendly”.

Despite this, he maintained the tariffs have been “simply unjustified”, highlighting Australia’s trade surplus with the US.

Figures point out Australia buys about $70bn price of items from the US, in comparison with the $30bn of exports Australia sells to America.

“It wasn’t a difficult discussion in terms of the relationship between us, and I am certainly of the view that we have the opportunity to continue to talk with Jamieson and Commerce Secretary Lutnick to put our case across,” he mentioned.

Senator Farrell additionally mentioned he was nonetheless decided to get the trade limitations slashed.

“It’s only by open discussion, honest discussion, with our allies in the United States that I think we can do that, but I certainly haven’t given up on the prospect of getting these tariffs removed,” he mentioned.

“And every opportunity I get, I’ll continue to pursue that argument with the United States.”

However, Senator Farrell mentioned the choice will probably be in the end made by Donald Trump, placing elevated stress on Mr Albanese’s upcoming meeting with the US President.

He mentioned that whereas there have been a “range of ways” by which Australia communicates with the US, the “most important … relationship between our prime minister and the president of the United States”.

“Look every meeting, I think, between an Australian Prime Minister and the US president will always be a critical meeting and I have the greatest confidence in our prime minister to push the Australian point of view on this.”

The trade limitations at the moment embody a 50 per cent levy on metal, a 25 per cent tariffs on aluminium and a blanket 10 per cent on different items.

While Mr Albanese maintained he gained’t compromise on Australia’s biosecurity, he hinted Australia may review present settings which don’t enable the US to import beef which originates from Canada and Mexico.

Mr Albanese has additionally ruled out modifications to the Pharmaceuticals Benefit Scheme, News Media Bargaining code and incoming ban on social media for under-16s, whereas highlighting Australia’s vital minerals industry as a potential bargaining chip.

“If things can be sorted out in a way that protects our biosecurity – of course, we don’t just say no, we don’t want imports in here for the sake of it,” he instructed ABC radio on Friday.

“But our first priority is biosecurity and there’ll be no compromise on that.”

Mr Albanese mentioned Australia wouldn’t have a “subservient relationship to any nation”.

“We’re a sovereign nation that stand on our own two feet,” he mentioned.

Senator Farrell additionally mentioned he was “confident” Australia can secure a new trade deal with the European Union, with EU President Ursula von der Leyen anticipated to go to Australia in July or August.

“We’ve got lots of things that we can sell to the to the Europeans. I believe now that there’s an appetite to reach an agreement on both sides,” he mentioned.

“The world has changed, those countries that believe in free and fair trade have to work together.”