BCG fires two partners over work on Gaza aid overhaul
Boston Consulting Group has fired two partners for 'unauthorised work' related to a contentious US-backed effort to overhaul aid
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Yahoo
an hour ago
- Yahoo
Inside key meeting to remove Trump tariffs
Trade Minister Don Farrell has detailed the discussion he had with his US counterpart Jamieson Greer, revealing he had the 'greatest confidence' in Anthony Albanese during an expected meeting with Donald Trump next weekend. Senator Farrell spoke to the US Trade Representative while in Paris last week and characterised the talk as 'friendly'. Despite this, he maintained the tariffs were 'simply unjustified', highlighting Australia's trade surplus with the US. Figures indicate Australia buys about $70bn worth of goods from the US, compared to the $30bn of exports Australia sells to America. 'It wasn't a difficult discussion in terms of the relationship between us, and I am certainly of the view that we have the opportunity to continue to talk with Jamieson and Commerce Secretary Lutnick to put our case across,' he said. Senator Farrell also said he was still determined to get the trade barriers slashed. 'It's only by open discussion, honest discussion, with our allies in the United States that I think we can do that, but I certainly haven't given up on the prospect of getting these tariffs removed,' he said. 'And every opportunity I get, I'll continue to pursue that argument with the United States.' However, Senator Farrell said the decision will be ultimately made by Donald Trump, putting increased pressure on Mr Albanese's upcoming meeting with the US President. He said that while there were a 'range of ways' in which Australia communicates with the US, the 'most important … relationship between our prime minister and the president of the United States'. 'Look every meeting, I think, between an Australian Prime Minister and the US president will always be a critical meeting and I have the greatest confidence in our prime minister to push the Australian point of view on this.' The trade barriers currently include a 50 per cent levy on steel, a 25 per cent tariffs on aluminium and a blanket 10 per cent on other goods. While Mr Albanese maintained he won't compromise on Australia's biosecurity, he hinted Australia could review current settings which don't allow the US to import beef which originates from Canada and Mexico. Mr Albanese has also ruled out changes to the Pharmaceuticals Benefit Scheme, News Media Bargaining code and incoming ban on social media for under-16s, while highlighting Australia's critical minerals industry as a potential bargaining chip. 'If things can be sorted out in a way that protects our biosecurity – of course, we don't just say no, we don't want imports in here for the sake of it,' he told ABC radio on Friday. 'But our first priority is biosecurity and there'll be no compromise on that.' Mr Albanese said Australia would not have a 'subservient relationship to any nation'. 'We're a sovereign nation that stand on our own two feet,' he said. Senator Farrell also said he was 'confident' Australia can secure a new trade deal with the European Union, with EU President Ursula von der Leyen expected to visit Australia in July or August. 'We've got lots of things that we can sell to the to the Europeans. I believe now that there's an appetite to reach an agreement on both sides,' he said. 'The world has changed, those countries that believe in free and fair trade have to work together.'
Yahoo
2 hours ago
- Yahoo
'Haven't given up': minister seeks tariff breakthrough
Australia's trade minister remains confident tariffs imposed by the US will be removed, ahead of a likely meeting between Anthony Albanese and Donald Trump. The two leaders could meet on the sidelines of the G7 summit in Canada next week, with the economic measures imposed by the US president around the world set to dominate discussions. As Australia looks to negotiate for an exemption on tariffs, Trade Minister Don Farrrell was optimistic a deal could be reached. "I certainly haven't given up on the prospect of getting these tariffs removed, and every opportunity I get, I'll continue to pursue that argument with the United States," he told Sky News on Sunday. "There is no justification for the United States to impose tariffs on Australia ... we want all of the tariffs removed, not just some of them." Mr Trump recently signed off on doubling tariffs on exports on steel and aluminium from 25 to 50 per cent. All other Australian exports to the US have been slapped with a 10 per cent tariff. Senator Farrell met with US trade representative Jamieson Greer last week and said he pushed the case for all of the economic measures to be removed. The minister was hopeful a similar approach that removed $20 billion worth of tariffs on Australian goods entering China could be used with America. "We didn't retaliate on that occasion, and bit by bit, we managed to get all of those tariffs that had been applied on Australia by China removed. I'd like to do the same with the United States," he said. "It's only by open discussion, honest discussion with out allies in the United States that I think we can do that." As the US Defence Secretary Pete Hegseth urged Australia to increase its defence spending by billions of dollars to 3.5 per cent of GDP, Senator Farrell said the federal government had already proved its commitment through the AUKUS submarine deal. Australia is looking to up its total spent on defence to 2.3 per cent. "We are committed to the defence of this country, we are committed to a significant uplift in the amount of spending," Senator Farrell said. "(AUKUS) is going to be a project that's worth more than $360 billion, so I think we've talked the talk." Prime Minister Anthony Albanese signalled on Friday negotiations on opening up access to US beef into Australia could be on the table as part of tariff negotiations. However, he said biosecurity would not be compromised in order to reach an agreement.
CNBC
7 hours ago
- CNBC
Trump says Elon Musk will face 'serious consequences' if he backs Democratic candidates
President Donald Trump told NBC News on Saturday that Elon Musk would see "serious consequences" if he backs Democratic candidates who challenge Republicans supporting the "big, beautiful bill." "If he does, he'll have to pay the consequences for that," Trump told NBC News' Kristen Welker in a phone interview. "He'll have to pay very serious consequences if he does that," he continued, without giving specifics on what that would look like. Trump also said that he thinks his relationship with Musk is done after their public feud erupted this week. "I gave him a lot of breaks, long before this happened, I gave him breaks in my first administration and saved his life in my first administration," Trump said. "I have no intention of speaking to him," Trump added. When asked whether he thinks his relationship with Musk is over, he said, "I would assume so." Trump also accused Musk of being "disrespectful to the office of the president." Trump's remarks are among his most extensive public comments yet on his feud with Musk, and the latest sign that the president is not interested in mending his relationship with the onetime ally. Musk has been a vocal critic of the Trump-backed spending bill that moved through the House last month. Earlier this week, Musk called the spending bill a "disgusting abomination" that will lead to exploding federal budget deficits. "In November next year, we fire all politicians who betrayed the American people," he wrote in a separate X post. Musk's criticism of the spending package — which is now being considered in the Senate — is in part what spurred the clash between the two men. Trump told NBC News that he is still "very confident" that the bill will be passed by July 4, and that he doesn't think Musk could derail the bill. "If you look at the Republicans, we've never been more unified," Trump told NBC News. "The bill is fantastic."
