Tariffs promised by Donald Trump to cast shadow over world leaders’ economic meetings

Trade will be the focus for Australia at the APEC summit as the country plans to dodge Donald Trump’s plan to increase taxes on goods imported to the US.

Labor will seek to avoid Donald Trump’s looming tariffs on goods imported to the US with the same tactics used to resolve trade blocks with China, highlighting how Americans benefit from access to Australian produce.

Australia’s agriculture exports to the US are worth $7 billion annually, with the Albanese Government hopeful promoting the positives of two-way trade to the incoming Trump administration will safeguard the critical export market where products like red meat, wine, frozen vegetables are in high demand.

Prime Minister Anthony Albanese and his fiancee Jodie Haydon arriving in Lima for the Asia-Pacific Economic Cooperation (APEC) Summit. Picture: AFP

In an exclusive interview on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Peru’s capital Lima, Agriculture Minister Julie Collins told this masthead the government’s “record speaks for itself” when it came to maintaining export markets for Australian farmers.

“We’re in 169 markets globally, and in the last 12 months, we’ve opened, maintained or restored 88 markets,” she said.

“It shows … the persistent, patient way that we go about our business, to ensure that great Australian produce does get around the globe.”

Ms Collins said in approaching future trade issues with the US, where Mr Trump has floated imposing a 10 to 20 per cent tax on all imports, the government would go about talks “in our usual, careful, considered way”.

“We have a … two-way trading system and a relationship with United States, they’re a great ally of Australia, and we have a great relationship,” she said.

The policy promises of US President-elect Donald Trump are expected to be much discussed by world leaders at APEC. Picture: Getty Images North America/AFP

In negotiating the removal of trade impediments impacting about $20bn in exports to Beijing, Labor similarly highlighted the benefit to Chinese people in having access to Australia’s products like wine, barley and seafood.

Ms Collins said Australian agriculture had a “great international reputation” and was in high demand due to the quality, biosecurity and food safety the country was known for.

With Friday being National Agriculture Day, Ms Collins said it was an opportunity for Australians to “celebrate” the innovative and sustainable industry, which she would be highlight in Peru.

Anthony Albanese will address the APEC summit in the coming days, before visiting Rio de Janeiro in Brazil for the G20.

Asked if he would like to see an agreement among the countries present about maintaining open trading routes, Mr Albanese said “Australia will always support free and fair trade”.

“We’re a trading nation,” he said.

“One in four of Australia’s jobs is trade dependent, and that will be a focus with the meetings that we will have over coming days.”

On Friday Mr Albanese will attend an APEC business reception where he will tell senior representatives of major South American companies like BHP Minerals Americas, Glencore Peru and Fortescue Peru Australia has weathered the unprecedented global economy challenges sparked by the Covid pandemic “better than most”.

Prime Minister Anthony Albanese will be in Peru for two days of APEC meetings before travelling to Rio de Janeiro for the G20 summit. Picture: AFP

The PM will say Australia is “poised to take advantage of stronger conditions” as inflation and energy prices come down, and workforce participation is at a “record high”.

“All this makes Australia an enormously attractive investment destination,” he will say.

“And it makes us a secure and trusted trading partner.”

Originally published as Tariffs promised by Donald Trump to cast shadow over world leaders’ economic meetings