Former Treasurer Joe Hockey says NT should embrace Trump’s America despite tariff shock

Former federal Treasurer Joe Hockey has schooled senior NT Government ministers about the importance of the United States. Read what he said.

An speech by former federal Treasurer Joe Hockey has pushed the Territory Government to explain its United States policy.

A former Australian Ambassador to Washington and now director of private consultancy Bondi Partners, Mr Hockey schooled the government during Thursday’s keynote NTG-Darwin Major Business Group NT Investment Summit on the importance of developing close ties with the Trump administration.

Mr Hockey, who has played golf with President Trump, said the United States remained Australia’s ‘best mate’, despite a 10 per cent across the board tariff on all Australian exports into the US, a 50 per cent slug on copper and aluminium exports and threats to impose a 200 per cent tariff on Australian-manufactured pharmaceuticals exported Stateside.

Referencing Prime Minister Anthony Albanese’s current trade and political mission to China, Mr Hockey stressed the importance of Australia’s relationships with the US.

Former federal Treasuer and Australian Ambassador to Washington, Joe Hockey

“I’ve learnt in business that you take care of your customers, they’re all important, but the most important person you have in your business is your partner, because your partner goes through with you on that journey, and it’s a much deeper relationship than any single customer,” he said.

“The partner is a shareholder in your business, they help with your strategy, and in the case of the United States, our partner is also a crucial trading partner as well, they’re a crucial customer, not just an investor.

“They are the biggest investors in Australia by a considerable margin, they are our fourth biggest customers for Australian goods and services but unquestionably, in a whole range of areas, from capital markets through to national security, the United States is our number one partner, and they’ve proven themselves from that time in WWII through to today and beyond.

“In space, which is one of the most exciting and prolific frontiers in the history of humanity through to undersea cables, from investment in energy right through to investment in agriculture, the US is crucial for Australia.

(L/R) US Secretary of Treasury Scott Bessent, US Senator Dave McCormick, US President Donald Trump, chief executive Blackstone Group Jon Gray and President and Chief Investment Officer of Google Ruth Porat. Joe Hockey has urged Australia to stand with their ally. (Photo by ANDREW CABALLERO-REYNOLDS / AFP)

“But most importantly, Australia having the United States as our best mate sends a message to our region and the world, ‘do not mess with us’. It sends a message to others that we have a leadership role and a role of influence in the United States.

“So while it might suit some political narratives at the moment to treat the United States as a little bit distant, to treat the Trump administration as a little bit odd, and a little bit far away about our shared values, let me be very clear.

“We pay a price if we are not close to the United States, and that comes out in a whole range of different areas.

“In the last few days Indonesia has negotiated a trade deal with the United States. Fifteen billion dollars of US energy is going to Indonesia. Is that displacing us, I don’t know, but Indonesia is as keen as mustard to negotiate a deal with the United States.”

After the presentation, Business Minister Robyn Cahill defended her own government’s failure to engage at a leadership or ministerial level with the US, which has hundreds of millions of dollars invested in defence projects across the Northern Territory.

In April an invitation was extended to Chief Minister Lia Finocchiaro to visit US naval officer Samuel Paparo, Commander Indo-Pacific Command in Honolulu.

Three months since the invitation was extended, the government indicated a US visit could still be some time away.

“There’s been a lot of interaction with the US at various levels and absolutely, taking the Territory to the US is on the agenda, it’s something my team have talked about for the next forward 12-month projection,” Ms Cahill said.

“For us the most critical step in the initial period was reconnecting with our Asian neighbours.”

In 2023, Mrs Finocchiaro criticised former Chief Minister Natasha Fyles following her nine-day trip to Washington D.C., which cost the taxpayer $92,831.

Originally published as Former Treasurer Joe Hockey says NT should embrace Trump’s America despite tariff shock