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Keep calm, let’s talk: how Australia plans to beat Trump’s tariffs

Andrew Tillett, Ronald Mizen, Michael Read and Tom Rabe

Apr 2, 2025 – 7.20pm

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The Albanese government will try to negotiate the industry-by-industry removal of tariffs with the White House, including launching challenges under its free trade pact with the US, as part of Australia’s fightback against Donald Trump’s global imposition of duties of up to 20 per cent.

Trade Minister Don Farrell has urged Australian business leaders to stay calm when Trump unveils his sweeping assault on trading partners on Thursday at 7am (3pm Washington time). Trump’s so-called Liberation Day is expected to involve the US imposing immediate tariffs on countries around the world to avenge perceived trade imbalances and barriers.

Andrew Tillett writes on politics, foreign affairs, defence and security from the Canberra press gallery.

Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra.

Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS.

Tom Rabe is the WA political correspondent, based in Perth.