Big super goes all-in on Trump’s economic agenda

The super machine started by Paul Keating 40 years ago is set to bet more of Australian workers’ retirement incomes on Trump’s low-tax, smaller-government. Made-in-America master plan.

Jim Chalmers visited to Washington this week offering “trillions” of dollars of union-commanded superannuation money. BETHANY RAE

Michael StutchburyEditor-at-large

Feb 28, 2025 – 4.40pm

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Just about anything can happen in Trump’s world. Jim Chalmers visited Washington this week offering “trillions” of dollars of union-commanded superannuation money as part of a push to shield Australia’s steel and aluminium exports from Donald Trump’s protectionist tariff war.

Money changes everything. Chalmers and his big-super caravan convinced Trump’s new US Treasury Secretary Scott Bessent to praise Australia’s “fantastic” $4 trillion compulsory superannuation system.

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Michael StutchburyEditor-at-largeMichael Stutchbury is editor-at-large. He is in his fourth decade of writing for and editing national newspapers. After nearly six years as editor of The Australian, he returned to the Financial Review as editor-in-chief (2011-2024).