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VIDEO: Australia's plan to challenge China's dominance in critical minerals and rare earths

VIDEO: Australia's plan to challenge China's dominance in critical minerals and rare earths

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Chief business correspondant, Ian Verrender explains the Albanese government's initiative to help fund a critical minerals stockpile, to create a local industry and to expand negotiating leverage with the US government on trade negotiations.

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Before meeting Trump, Albanese meets the man who vowed to ‘stand up' to the President
Before meeting Trump, Albanese meets the man who vowed to ‘stand up' to the President

The Age

time3 hours ago

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Before meeting Trump, Albanese meets the man who vowed to ‘stand up' to the President

Calgary: The AUKUS submarine pact, tariffs and China are expected to dominate the first face-to-face meeting between Anthony Albanese and Donald Trump, with the prime minister vowing to remind the US president of the significant military support Australia already provides. Fresh from a meeting with another world leader who benefited electorally from distancing himself from the president, Canadian Prime Minister Mark Carney, Albanese said he defined success with Trump as being able to argue Australia's case. 'I don't want to preempt outcomes of meetings [but] a successful meeting is one where we are able... to put forward our position,' Albanese said. On Monday, AEST, Carney and Albanese discussed deepening defence ties - including through the proposed Canadian acquisition of a sophisticated Australian-made radar system - as well as that country's participation in AUKUS' 'pillar 2' which is focused on advanced technology. Carney won his election earlier this year in a major upset in part by vowing to 'stand up' to Trump, who had suggested Canada could become a US state. The Australian prime minister will meet a bevy of leaders while attending the G7 summit on the edge of the Canadian Rocky mountains this week, including the prime ministers of England, Japan and Germany, the presidents of France, South Korea and France and EU leaders. The conflict between Israel and Iran will feature prominently at the summit, as will discussions on access to critical minerals, climate change, energy security and the global economy. But Albanese's first meeting with Trump at the summit – which will not issue its typical joint communique – has dominated the leadup to the event and comes at a time when there are an unusual number of sticking points in the usually smooth Australia-US relationship. 'Our position when it comes to tariffs is very clear,' he said. 'We see tariffs as acts of economic self harm by the country imposing the tariffs, because what it does is lead to increased costs for the country that is making those decisions,' he said.

The PM just got a pay rise. Here's how his salary compares to Trump and other leaders
The PM just got a pay rise. Here's how his salary compares to Trump and other leaders

The Age

time3 hours ago

  • The Age

The PM just got a pay rise. Here's how his salary compares to Trump and other leaders

Prime Minister Anthony Albanese will be paid more than US President Donald Trump from next month after the Remuneration Tribunal boosted federal politicians' pay by 2.4 per cent. But how does his salary compare to that of other countries' leaders? While the US president's salary has been steady since 2001, the Remuneration Tribunal determines the change in salaries of Australian ministers – including the prime minister – every year. The latest decision, which takes effect on July 1, lifts Albanese's salary from $607,500 to $622,071. That means he will now overtake Trump, who is paid $US400,000 ($617,000). Albanese's latest pay rise is lower than the 3.5 per cent increase granted by the Fair Work Commission for minimum wage earners earlier this month, which the tribunal considered alongside economic conditions and past and projected movements in private and public sector pay. While Albanese is among the highest-paid government leaders in the world, he falls short of some heads of state in neighbouring countries. Singaporean Prime Minister Lawrence Wong, for example, is the highest-paid government leader, collecting $SG2.2 million ($2.5 million) last year. Singapore's ministerial salaries were raised in the 1980s because the country's first prime minister, Lee Kuan Yew, believed high salaries would reduce the temptation for corruption and attract the best people from the private sector to the public service. The leader, or chief executive, of Hong Kong also earns more than Albanese. Last year, the Hong Kong Free Press reported that John Lee would be paid about $HK5.6 million ($1.1 million). The Swiss president, who holds the position on a rotational one-year basis, received about 459,688 Swiss francs ($877,101) in 2024, placing the current leader, Karin Keller-Sutter, among the highest-paid in the world.

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