Trade Minister Don Farrell clarifies that Anthony Albanese was not directly lobbied by Donald Trump on US beef
Trade Minister Don Farrell had on Sunday indicated that the US President had raised the issue directly in one of the three phone conversations the leaders have shared.
'Of course, the president of the United States has raised it with the prime minister,' he told Sky.
'I couldn't tell you off the top of my head which of the discussions, but I'm aware that this issue was raised by the president of the United States.'
However, the Prime Minister later clarified on ABC that the import ban had only been raised when Mr Trump said it publicly at his 'Liberation Day' tariffs event in April.
Asked whether Donald Trump raised the issue directly with him, the Prime Minister replied, 'No. Donald Trump did raise it at the so-called 'Liberation Day'. He raised it publicly, and so his views were well known'.
By mid-day, Senator Farrell had clarified in a Nine interview 'I made a mistake' and had confused that White House address with a private conversation between the two leaders.
Australia this week lifted a long-standing ban on US beef imports—specifically meat from cattle born in Canada or Mexico but slaughtered in America —following a decade-long, science-based biosecurity review.
Agriculture Minister Julie Collins, Mr Albanese and Mr Farrell had said strict standards remained in place and the decision's timing amid tariff threats wasn't suspicious.
Mr Trump had declared the move this week a trade triumph for America, calling it a 'golden age of America,' and warning other countries were now 'on notice.'
It comes after concern from Opposition and industry that the Albanese government compromised Australia's strict biosecurity rules to appease Mr Trump amid his tariffs regime.
Nationals leader David Littleproud and other Coalition figures have questioned whether the decision was truly based on biosecurity and demanded an independent review.
Shadow Foreign Minister Michaelia Cash added to Littleproud's calls on Sunday, saying she too would like an inquiry to come before the Senate.
'We now urgently need an independent review into this decision,' she said.
'It could be an independent review. I think it's incredibly important, based on the responses that Minister Farrell has given… that we get the Department in front of us very, very quickly.'
Senator Cash also described Senator Farrell's claims on the Trump phone call as an 'extraordinary interview', adding 'there are even more questions now to answer'.
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The Advertiser
an hour ago
- The Advertiser
Asian stocks climb, dollar droops on Fed easing bets
Asian equities have risen, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings and growing expectations for US rate cuts boosted sentiment. The prospect of a meeting between US President Donald Trump and Russian President Vladimir Putin over the war in Ukraine also underpinned sentiment, benefiting the euro, while weighing on oil prices as traders gauged the outlook for sanctions on Moscow. Sterling held its ground at a one-week high going into the Bank of England's policy announcement later in the day, with a quarter-point cut widely expected, and the focus falling on a possible three-way split within the board. At the same time, markets largely shook off Trump's latest tariff threats, including an additional 25 per cent tariff on India over purchases of Russian oil and a threatened 100 per cent duty on chips. 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And trade uncertainty persists." The US dollar remained lower against major peers on Thursday, with expectations of easier policy from the Federal Reserve stoked both by some disappointing macroeconomic indicators - not least Friday's payrolls report - and Trump's move to install new picks on the Fed board that are likely to share the US President's dovish views on monetary policy. Focus is centred on Trump's nomination to fill a coming vacancy on the Fed's board of governors and candidates for the next chair of the central bank, with current Chair Jerome Powell's tenure due to end in May. The dollar index, which gauges the currency against the euro, sterling and four other counterparts, gained slightly to 98.245, after dropping 0.6 per cent on Wednesday. The euro was little changed at $1.1657, following the previous session's 0.7 per cent jump. Sterling was steady at $1.3356. The BoE looks poised to cut interest rates for the fifth time in 12 months later on Thursday, but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next moves. Two Monetary Policy Committee members may push for a half-point rate cut, and two may lobby for no change. The dollar added 0.1 per cent to 147.53 yen. Gold gained 0.4 per cent to around $3,382 per ounce, buoyed by the weaker dollar. Crude oil clawed back some losses from Wednesday, when both Brent and West Texas Intermediate slid about 1 per cent. Brent crude futures were last up 20 cents, or 0.3 per cent, at $67.09 a barrel, while US West Texas Intermediate crude gained 22 cents, or 0.3 per cent, to $64.57 a barrel. Asian equities have risen, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings and growing expectations for US rate cuts boosted sentiment. The prospect of a meeting between US President Donald Trump and Russian President Vladimir Putin over the war in Ukraine also underpinned sentiment, benefiting the euro, while weighing on oil prices as traders gauged the outlook for sanctions on Moscow. Sterling held its ground at a one-week high going into the Bank of England's policy announcement later in the day, with a quarter-point cut widely expected, and the focus falling on a possible three-way split within the board. At the same time, markets largely shook off Trump's latest tariff threats, including an additional 25 per cent tariff on India over purchases of Russian oil and a threatened 100 per cent duty on chips. Japan's broad Topix index rose 0.9 per cent on Thursday to reach an all-time high, with the more tech-focused Nikkei also gaining by about the same margin. Taiwan's stock benchmark surged 2.3 per cent to a more than one-year peak. South Korea's KOSPI added 0.6 per cent. Hong Kong's Hang Seng rose 0.4 per cent, and mainland Chinese blue chips advanced 0.3 per cent. Australian shares edged slightly lower after hitting a record high on Wednesday. US stock futures were buoyant, with those for the S&P 500 up 0.3 per cent and those for the Nasdaq also rising 0.3 per cent. On Wednesday, the S&P 500 climbed 0.7 per cent and the Nasdaq Composite jumped 1.2 per cent. "Wall Street seems to have gotten its mojo back," analyst Kyle Rodda wrote in a note. "However, there are persistent risks to the downside. Downside surprises in official data are increasing," he said. "Valuations are also stretched, with forward price to earnings hovering around the highest in four years. And trade uncertainty persists." The US dollar remained lower against major peers on Thursday, with expectations of easier policy from the Federal Reserve stoked both by some disappointing macroeconomic indicators - not least Friday's payrolls report - and Trump's move to install new picks on the Fed board that are likely to share the US President's dovish views on monetary policy. Focus is centred on Trump's nomination to fill a coming vacancy on the Fed's board of governors and candidates for the next chair of the central bank, with current Chair Jerome Powell's tenure due to end in May. The dollar index, which gauges the currency against the euro, sterling and four other counterparts, gained slightly to 98.245, after dropping 0.6 per cent on Wednesday. The euro was little changed at $1.1657, following the previous session's 0.7 per cent jump. Sterling was steady at $1.3356. The BoE looks poised to cut interest rates for the fifth time in 12 months later on Thursday, but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next moves. Two Monetary Policy Committee members may push for a half-point rate cut, and two may lobby for no change. The dollar added 0.1 per cent to 147.53 yen. Gold gained 0.4 per cent to around $3,382 per ounce, buoyed by the weaker dollar. Crude oil clawed back some losses from Wednesday, when both Brent and West Texas Intermediate slid about 1 per cent. Brent crude futures were last up 20 cents, or 0.3 per cent, at $67.09 a barrel, while US West Texas Intermediate crude gained 22 cents, or 0.3 per cent, to $64.57 a barrel. Asian equities have risen, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings and growing expectations for US rate cuts boosted sentiment. The prospect of a meeting between US President Donald Trump and Russian President Vladimir Putin over the war in Ukraine also underpinned sentiment, benefiting the euro, while weighing on oil prices as traders gauged the outlook for sanctions on Moscow. Sterling held its ground at a one-week high going into the Bank of England's policy announcement later in the day, with a quarter-point cut widely expected, and the focus falling on a possible three-way split within the board. At the same time, markets largely shook off Trump's latest tariff threats, including an additional 25 per cent tariff on India over purchases of Russian oil and a threatened 100 per cent duty on chips. Japan's broad Topix index rose 0.9 per cent on Thursday to reach an all-time high, with the more tech-focused Nikkei also gaining by about the same margin. Taiwan's stock benchmark surged 2.3 per cent to a more than one-year peak. South Korea's KOSPI added 0.6 per cent. Hong Kong's Hang Seng rose 0.4 per cent, and mainland Chinese blue chips advanced 0.3 per cent. Australian shares edged slightly lower after hitting a record high on Wednesday. US stock futures were buoyant, with those for the S&P 500 up 0.3 per cent and those for the Nasdaq also rising 0.3 per cent. On Wednesday, the S&P 500 climbed 0.7 per cent and the Nasdaq Composite jumped 1.2 per cent. "Wall Street seems to have gotten its mojo back," analyst Kyle Rodda wrote in a note. "However, there are persistent risks to the downside. Downside surprises in official data are increasing," he said. "Valuations are also stretched, with forward price to earnings hovering around the highest in four years. And trade uncertainty persists." The US dollar remained lower against major peers on Thursday, with expectations of easier policy from the Federal Reserve stoked both by some disappointing macroeconomic indicators - not least Friday's payrolls report - and Trump's move to install new picks on the Fed board that are likely to share the US President's dovish views on monetary policy. Focus is centred on Trump's nomination to fill a coming vacancy on the Fed's board of governors and candidates for the next chair of the central bank, with current Chair Jerome Powell's tenure due to end in May. The dollar index, which gauges the currency against the euro, sterling and four other counterparts, gained slightly to 98.245, after dropping 0.6 per cent on Wednesday. The euro was little changed at $1.1657, following the previous session's 0.7 per cent jump. Sterling was steady at $1.3356. The BoE looks poised to cut interest rates for the fifth time in 12 months later on Thursday, but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next moves. Two Monetary Policy Committee members may push for a half-point rate cut, and two may lobby for no change. The dollar added 0.1 per cent to 147.53 yen. Gold gained 0.4 per cent to around $3,382 per ounce, buoyed by the weaker dollar. Crude oil clawed back some losses from Wednesday, when both Brent and West Texas Intermediate slid about 1 per cent. Brent crude futures were last up 20 cents, or 0.3 per cent, at $67.09 a barrel, while US West Texas Intermediate crude gained 22 cents, or 0.3 per cent, to $64.57 a barrel. Asian equities have risen, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings and growing expectations for US rate cuts boosted sentiment. The prospect of a meeting between US President Donald Trump and Russian President Vladimir Putin over the war in Ukraine also underpinned sentiment, benefiting the euro, while weighing on oil prices as traders gauged the outlook for sanctions on Moscow. Sterling held its ground at a one-week high going into the Bank of England's policy announcement later in the day, with a quarter-point cut widely expected, and the focus falling on a possible three-way split within the board. At the same time, markets largely shook off Trump's latest tariff threats, including an additional 25 per cent tariff on India over purchases of Russian oil and a threatened 100 per cent duty on chips. Japan's broad Topix index rose 0.9 per cent on Thursday to reach an all-time high, with the more tech-focused Nikkei also gaining by about the same margin. Taiwan's stock benchmark surged 2.3 per cent to a more than one-year peak. South Korea's KOSPI added 0.6 per cent. Hong Kong's Hang Seng rose 0.4 per cent, and mainland Chinese blue chips advanced 0.3 per cent. Australian shares edged slightly lower after hitting a record high on Wednesday. US stock futures were buoyant, with those for the S&P 500 up 0.3 per cent and those for the Nasdaq also rising 0.3 per cent. On Wednesday, the S&P 500 climbed 0.7 per cent and the Nasdaq Composite jumped 1.2 per cent. "Wall Street seems to have gotten its mojo back," analyst Kyle Rodda wrote in a note. "However, there are persistent risks to the downside. Downside surprises in official data are increasing," he said. "Valuations are also stretched, with forward price to earnings hovering around the highest in four years. And trade uncertainty persists." The US dollar remained lower against major peers on Thursday, with expectations of easier policy from the Federal Reserve stoked both by some disappointing macroeconomic indicators - not least Friday's payrolls report - and Trump's move to install new picks on the Fed board that are likely to share the US President's dovish views on monetary policy. Focus is centred on Trump's nomination to fill a coming vacancy on the Fed's board of governors and candidates for the next chair of the central bank, with current Chair Jerome Powell's tenure due to end in May. The dollar index, which gauges the currency against the euro, sterling and four other counterparts, gained slightly to 98.245, after dropping 0.6 per cent on Wednesday. The euro was little changed at $1.1657, following the previous session's 0.7 per cent jump. Sterling was steady at $1.3356. The BoE looks poised to cut interest rates for the fifth time in 12 months later on Thursday, but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next moves. Two Monetary Policy Committee members may push for a half-point rate cut, and two may lobby for no change. The dollar added 0.1 per cent to 147.53 yen. Gold gained 0.4 per cent to around $3,382 per ounce, buoyed by the weaker dollar. Crude oil clawed back some losses from Wednesday, when both Brent and West Texas Intermediate slid about 1 per cent. Brent crude futures were last up 20 cents, or 0.3 per cent, at $67.09 a barrel, while US West Texas Intermediate crude gained 22 cents, or 0.3 per cent, to $64.57 a barrel.
The Advertiser
an hour ago
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Brazil's Bolsonaro appeals house arrest order
Lawyers for former Brazilian president Jair Bolsonaro have appealed a house arrest order imposed against him. Bolsonaro was placed under house arrest on Monday after an order was issued by Supreme Court Justice Alexandre de Moraes against him. Moraes' decision cited a failure to comply with restraining orders he had imposed on Bolsonaro for allegedly courting US President Donald Trump's interference in the case. Bolsonaro's lawyers had already said that they would appeal the decision to place him under house arrest. In a document seen by Reuters, the lawyers said Bolsonaro did not breach the restraining orders. They also asked for the house arrest order to be voted on by a wider panel of Supreme Court justices. Bolsonaro is on trial for allegedly masterminding a coup plot to remain in office despite his defeat in the 2022 election. The case has gripped the South American country as it faces a trade war with the Trump administration. The trial is receiving renewed attention after Trump directly tied a 50 per cent tariff on imported Brazilian goods to the judicial situation of Bolsonaro, a Trump ally. The US leader has called the proceedings a "witch hunt". Prosecutors accuse Bolsonaro of heading a criminal organisation that plotted to overturn the election, including plans to kill President Luiz Inácio Lula da Silva and Supreme Court justice Alexandre de Moraes. The top court in July ordered Bolsonaro wear an electronic ankle monitor and imposed a curfew on his activities while the proceedings were under way. Lawyers for former Brazilian president Jair Bolsonaro have appealed a house arrest order imposed against him. Bolsonaro was placed under house arrest on Monday after an order was issued by Supreme Court Justice Alexandre de Moraes against him. Moraes' decision cited a failure to comply with restraining orders he had imposed on Bolsonaro for allegedly courting US President Donald Trump's interference in the case. Bolsonaro's lawyers had already said that they would appeal the decision to place him under house arrest. In a document seen by Reuters, the lawyers said Bolsonaro did not breach the restraining orders. They also asked for the house arrest order to be voted on by a wider panel of Supreme Court justices. Bolsonaro is on trial for allegedly masterminding a coup plot to remain in office despite his defeat in the 2022 election. The case has gripped the South American country as it faces a trade war with the Trump administration. The trial is receiving renewed attention after Trump directly tied a 50 per cent tariff on imported Brazilian goods to the judicial situation of Bolsonaro, a Trump ally. The US leader has called the proceedings a "witch hunt". Prosecutors accuse Bolsonaro of heading a criminal organisation that plotted to overturn the election, including plans to kill President Luiz Inácio Lula da Silva and Supreme Court justice Alexandre de Moraes. The top court in July ordered Bolsonaro wear an electronic ankle monitor and imposed a curfew on his activities while the proceedings were under way. Lawyers for former Brazilian president Jair Bolsonaro have appealed a house arrest order imposed against him. Bolsonaro was placed under house arrest on Monday after an order was issued by Supreme Court Justice Alexandre de Moraes against him. Moraes' decision cited a failure to comply with restraining orders he had imposed on Bolsonaro for allegedly courting US President Donald Trump's interference in the case. Bolsonaro's lawyers had already said that they would appeal the decision to place him under house arrest. In a document seen by Reuters, the lawyers said Bolsonaro did not breach the restraining orders. They also asked for the house arrest order to be voted on by a wider panel of Supreme Court justices. Bolsonaro is on trial for allegedly masterminding a coup plot to remain in office despite his defeat in the 2022 election. The case has gripped the South American country as it faces a trade war with the Trump administration. The trial is receiving renewed attention after Trump directly tied a 50 per cent tariff on imported Brazilian goods to the judicial situation of Bolsonaro, a Trump ally. The US leader has called the proceedings a "witch hunt". Prosecutors accuse Bolsonaro of heading a criminal organisation that plotted to overturn the election, including plans to kill President Luiz Inácio Lula da Silva and Supreme Court justice Alexandre de Moraes. The top court in July ordered Bolsonaro wear an electronic ankle monitor and imposed a curfew on his activities while the proceedings were under way. Lawyers for former Brazilian president Jair Bolsonaro have appealed a house arrest order imposed against him. Bolsonaro was placed under house arrest on Monday after an order was issued by Supreme Court Justice Alexandre de Moraes against him. Moraes' decision cited a failure to comply with restraining orders he had imposed on Bolsonaro for allegedly courting US President Donald Trump's interference in the case. Bolsonaro's lawyers had already said that they would appeal the decision to place him under house arrest. In a document seen by Reuters, the lawyers said Bolsonaro did not breach the restraining orders. They also asked for the house arrest order to be voted on by a wider panel of Supreme Court justices. Bolsonaro is on trial for allegedly masterminding a coup plot to remain in office despite his defeat in the 2022 election. The case has gripped the South American country as it faces a trade war with the Trump administration. The trial is receiving renewed attention after Trump directly tied a 50 per cent tariff on imported Brazilian goods to the judicial situation of Bolsonaro, a Trump ally. The US leader has called the proceedings a "witch hunt". Prosecutors accuse Bolsonaro of heading a criminal organisation that plotted to overturn the election, including plans to kill President Luiz Inácio Lula da Silva and Supreme Court justice Alexandre de Moraes. The top court in July ordered Bolsonaro wear an electronic ankle monitor and imposed a curfew on his activities while the proceedings were under way.
West Australian
an hour ago
- West Australian
Australia ‘very concerned' by Donald Trump's 250 per cent pharmaceutical tariff threat
Australia's Health Minister has admitted he's 'very concerned' by Donald Trump's threat to raise pharmaceutical tariffs as high as 250 per cent and insisted PBS is off limits. Mark Butler has vowed Australia will continue to 'press the case' for the continuation of free trade with America — acknowledging it would be a major blow to Australian patients and producers. US President Donald Trump told CNBC this week he would expand this tariff regime by slapping new tariffs on foreign-made pharmaceuticals. 'It's going to go to 150 per cent and then it's going to go to 250 per cent,' he told the US business news channel. He said the final rate is expected to be announced within the next week or so, with a transitional period to give drug manufacturers time to adjust their supply chains. 'We are very concerned about the latest announcement from the administration around the possibility of pharmaceutical tariffs going as high as 250 per cent over the next couple of years,' Mr Butler told reporters in Melbourne on Thursday. 'That is why we're working so hard to press the case for the continuation of free trade.' Under the $18 billion-dollar Pharmaceutical Benefits Scheme, the government negotiates with the drug companies to enable Australians to buy life-saving drugs worth thousands of dollars for as little as $25 a script. In a series of letters to 17 drug manufacturers on Friday, Mr Trump had also demanded they negotiate harder with 'foreign freeloading nations' he blamed for higher US drug prices. It comes after a submission was made to the US government March by the Pharmaceutical Research and Manufacturers of America (PhRMA) claiming Australia's subsidised medical system was 'egregious and discriminatory'. Mr Butler said the US and Australian pharmaceutical trade relationship benefited both nations. 'America exports more pharmaceuticals to Australia than we do to them. They do it on a tariff-free basis,' he said. 'That's served both of our countries very well and we'll continue to argue the case for a continuation of free trade in pharmaceuticals.' Prime Minister Anthony Albanese said Australia would continue to support the PBS and spruiked his government's recent legislation in the first sitting black of the 48th Parliament to make PBS medicines even cheaper. 'We support the PBS. It is part of who we are as Australia. We're a sovereign nation, it's something that has produced massive benefits for Australia. It's a proud Labor creation and we are building on it,' he said on Thursday when asked if he was concerned by the latest development of Trump's ever-expanding tariffs. 'That's why we introduced legislation last week to reduce the cost of medicines to $25 that are listed on the PBS.' It comes as Mr Trump's country-specific 'reciprocal' tariffs, first floated on 'Liberation Day' in April, were scheduled to take effect on August 7. The US imposed a 10 per cent baseline tariff on imported goods from Australia which was the lowest rate of other nations.
