Latest news with #AnthonyAlbanese
Sky News AU
9 hours ago
- Business
- Sky News AU
PM needs to ‘build' a better relationship with Donald Trump
Shadow Environment and Youth Minister Angie Bell says Prime Minister Anthony Albanese needs to 'build' a better relationship with the US President amid the announcement America will impose a 50 per cent tariff on all steel and aluminium imports. 'We do have a good relationship with the United States, and I think it is so very important that the Prime does build a better relationship with the US President Donald Trump,' Ms Bell told Sky News Australia. 'He should be doing that on the sidelines of the G7, which is coming up very shortly.'
The Advertiser
15 hours ago
- Business
- The Advertiser
'Unjustified': PM-Trump talks push after tariff hike
Pressure is again mounting for Prime Minister Anthony Albanese to personally meet with Donald Trump amid fresh alarm over the US president's "unjustified" tariff hike on steel imports. Mr Trump on Saturday announced plans to increase tariffs on foreign imports of steel from 25 to 50 per cent to "further secure the steel industry in the United States". The latest decision could impact Australia's industry, which exported more than $414 million worth of iron and steel to the US in 2024. Trade Minister Don Farrell says the tariffs are unjustified and not the act of a friend. "They are an act of economic self-harm that will only hurt consumers and businesses who rely on free and fair trade," Mr Farrell said on Saturday. "We will continue to engage and advocate strongly for the removal of the tariffs." Opposition trade spokesman Kevin Hogan said the latest move was concerning for Australian jobs and the coalition expected the US to honour its obligations under both nations' free trade agreement. "The Albanese government needs to double its efforts to protect our steel industry and local jobs for our steel workers," he said in a statement. "This is why it is imperative that the Australian prime minister personally meets with President Trump ... to develop a personal rapport with the United States president and protect Australian industries." The US imported 289 product categories in 2024, costing $US147 billion ($A229 billion), with nearly two-thirds of those aluminium and one-third steel, according to Census Bureau data from the US International Trade Commission. The 25 per cent tariffs on steel and aluminium were among the earliest implemented following Mr Trump's return to the White House in January and came into effect in March. Australia will continue to push for Mr Trump to drop his tariffs after a US federal court blocked his Liberation Day taxes on imported goods from going into effect. Goods from Australia are subject to a 10 per cent baseline tariff, while all steel and aluminium imports to the US face 25 per cent tariffs before Mr Trump's latest announcement. The New York-based Court of International Trade found the US president had overstepped his authority by imposing the tariffs. The administration launched an appeal, decrying "unelected judges" should not decide how to address a "national emergency". Labor has sought to temper expectations on whether it can land a deal with the US to remove the tariffs. Pressure is again mounting for Prime Minister Anthony Albanese to personally meet with Donald Trump amid fresh alarm over the US president's "unjustified" tariff hike on steel imports. Mr Trump on Saturday announced plans to increase tariffs on foreign imports of steel from 25 to 50 per cent to "further secure the steel industry in the United States". The latest decision could impact Australia's industry, which exported more than $414 million worth of iron and steel to the US in 2024. Trade Minister Don Farrell says the tariffs are unjustified and not the act of a friend. "They are an act of economic self-harm that will only hurt consumers and businesses who rely on free and fair trade," Mr Farrell said on Saturday. "We will continue to engage and advocate strongly for the removal of the tariffs." Opposition trade spokesman Kevin Hogan said the latest move was concerning for Australian jobs and the coalition expected the US to honour its obligations under both nations' free trade agreement. "The Albanese government needs to double its efforts to protect our steel industry and local jobs for our steel workers," he said in a statement. "This is why it is imperative that the Australian prime minister personally meets with President Trump ... to develop a personal rapport with the United States president and protect Australian industries." The US imported 289 product categories in 2024, costing $US147 billion ($A229 billion), with nearly two-thirds of those aluminium and one-third steel, according to Census Bureau data from the US International Trade Commission. The 25 per cent tariffs on steel and aluminium were among the earliest implemented following Mr Trump's return to the White House in January and came into effect in March. Australia will continue to push for Mr Trump to drop his tariffs after a US federal court blocked his Liberation Day taxes on imported goods from going into effect. Goods from Australia are subject to a 10 per cent baseline tariff, while all steel and aluminium imports to the US face 25 per cent tariffs before Mr Trump's latest announcement. The New York-based Court of International Trade found the US president had overstepped his authority by imposing the tariffs. The administration launched an appeal, decrying "unelected judges" should not decide how to address a "national emergency". Labor has sought to temper expectations on whether it can land a deal with the US to remove the tariffs. Pressure is again mounting for Prime Minister Anthony Albanese to personally meet with Donald Trump amid fresh alarm over the US president's "unjustified" tariff hike on steel imports. Mr Trump on Saturday announced plans to increase tariffs on foreign imports of steel from 25 to 50 per cent to "further secure the steel industry in the United States". The latest decision could impact Australia's industry, which exported more than $414 million worth of iron and steel to the US in 2024. Trade Minister Don Farrell says the tariffs are unjustified and not the act of a friend. "They are an act of economic self-harm that will only hurt consumers and businesses who rely on free and fair trade," Mr Farrell said on Saturday. "We will continue to engage and advocate strongly for the removal of the tariffs." Opposition trade spokesman Kevin Hogan said the latest move was concerning for Australian jobs and the coalition expected the US to honour its obligations under both nations' free trade agreement. "The Albanese government needs to double its efforts to protect our steel industry and local jobs for our steel workers," he said in a statement. "This is why it is imperative that the Australian prime minister personally meets with President Trump ... to develop a personal rapport with the United States president and protect Australian industries." The US imported 289 product categories in 2024, costing $US147 billion ($A229 billion), with nearly two-thirds of those aluminium and one-third steel, according to Census Bureau data from the US International Trade Commission. The 25 per cent tariffs on steel and aluminium were among the earliest implemented following Mr Trump's return to the White House in January and came into effect in March. Australia will continue to push for Mr Trump to drop his tariffs after a US federal court blocked his Liberation Day taxes on imported goods from going into effect. Goods from Australia are subject to a 10 per cent baseline tariff, while all steel and aluminium imports to the US face 25 per cent tariffs before Mr Trump's latest announcement. The New York-based Court of International Trade found the US president had overstepped his authority by imposing the tariffs. The administration launched an appeal, decrying "unelected judges" should not decide how to address a "national emergency". Labor has sought to temper expectations on whether it can land a deal with the US to remove the tariffs. Pressure is again mounting for Prime Minister Anthony Albanese to personally meet with Donald Trump amid fresh alarm over the US president's "unjustified" tariff hike on steel imports. Mr Trump on Saturday announced plans to increase tariffs on foreign imports of steel from 25 to 50 per cent to "further secure the steel industry in the United States". The latest decision could impact Australia's industry, which exported more than $414 million worth of iron and steel to the US in 2024. Trade Minister Don Farrell says the tariffs are unjustified and not the act of a friend. "They are an act of economic self-harm that will only hurt consumers and businesses who rely on free and fair trade," Mr Farrell said on Saturday. "We will continue to engage and advocate strongly for the removal of the tariffs." Opposition trade spokesman Kevin Hogan said the latest move was concerning for Australian jobs and the coalition expected the US to honour its obligations under both nations' free trade agreement. "The Albanese government needs to double its efforts to protect our steel industry and local jobs for our steel workers," he said in a statement. "This is why it is imperative that the Australian prime minister personally meets with President Trump ... to develop a personal rapport with the United States president and protect Australian industries." The US imported 289 product categories in 2024, costing $US147 billion ($A229 billion), with nearly two-thirds of those aluminium and one-third steel, according to Census Bureau data from the US International Trade Commission. The 25 per cent tariffs on steel and aluminium were among the earliest implemented following Mr Trump's return to the White House in January and came into effect in March. Australia will continue to push for Mr Trump to drop his tariffs after a US federal court blocked his Liberation Day taxes on imported goods from going into effect. Goods from Australia are subject to a 10 per cent baseline tariff, while all steel and aluminium imports to the US face 25 per cent tariffs before Mr Trump's latest announcement. The New York-based Court of International Trade found the US president had overstepped his authority by imposing the tariffs. The administration launched an appeal, decrying "unelected judges" should not decide how to address a "national emergency". Labor has sought to temper expectations on whether it can land a deal with the US to remove the tariffs.
West Australian
16 hours ago
- Business
- West Australian
'Unjustified': PM-Trump talks push after tariff hike
Pressure is again mounting for Prime Minister Anthony Albanese to personally meet with Donald Trump amid fresh alarm over the US president's "unjustified" tariff hike on steel imports. Mr Trump on Saturday announced plans to increase tariffs on foreign imports of steel from 25 to 50 per cent to "further secure the steel industry in the United States". The latest decision could impact Australia's industry, which exported more than $414 million worth of iron and steel to the US in 2024. Trade Minister Don Farrell says the tariffs are unjustified and not the act of a friend. "They are an act of economic self-harm that will only hurt consumers and businesses who rely on free and fair trade," Mr Farrell said on Saturday. "We will continue to engage and advocate strongly for the removal of the tariffs." Opposition trade spokesman Kevin Hogan said the latest move was concerning for Australian jobs and the coalition expected the US to honour its obligations under both nations' free trade agreement. "The Albanese government needs to double its efforts to protect our steel industry and local jobs for our steel workers," he said in a statement. "This is why it is imperative that the Australian prime minister personally meets with President Trump ... to develop a personal rapport with the United States president and protect Australian industries." The US imported 289 product categories in 2024, costing $US147 billion ($A229 billion), with nearly two-thirds of those aluminium and one-third steel, according to Census Bureau data from the US International Trade Commission. The 25 per cent tariffs on steel and aluminium were among the earliest implemented following Mr Trump's return to the White House in January and came into effect in March. Australia will continue to push for Mr Trump to drop his tariffs after a US federal court blocked his Liberation Day taxes on imported goods from going into effect. Goods from Australia are subject to a 10 per cent baseline tariff, while all steel and aluminium imports to the US face 25 per cent tariffs before Mr Trump's latest announcement. The New York-based Court of International Trade found the US president had overstepped his authority by imposing the tariffs. The administration launched an appeal, decrying "unelected judges" should not decide how to address a "national emergency". Labor has sought to temper expectations on whether it can land a deal with the US to remove the tariffs.
Perth Now
16 hours ago
- Business
- Perth Now
'Unjustified': PM-Trump talks push after tariff hike
Pressure is again mounting for Prime Minister Anthony Albanese to personally meet with Donald Trump amid fresh alarm over the US president's "unjustified" tariff hike on steel imports. Mr Trump on Saturday announced plans to increase tariffs on foreign imports of steel from 25 to 50 per cent to "further secure the steel industry in the United States". The latest decision could impact Australia's industry, which exported more than $414 million worth of iron and steel to the US in 2024. Trade Minister Don Farrell says the tariffs are unjustified and not the act of a friend. "They are an act of economic self-harm that will only hurt consumers and businesses who rely on free and fair trade," Mr Farrell said on Saturday. "We will continue to engage and advocate strongly for the removal of the tariffs." Opposition trade spokesman Kevin Hogan said the latest move was concerning for Australian jobs and the coalition expected the US to honour its obligations under both nations' free trade agreement. "The Albanese government needs to double its efforts to protect our steel industry and local jobs for our steel workers," he said in a statement. "This is why it is imperative that the Australian prime minister personally meets with President Trump ... to develop a personal rapport with the United States president and protect Australian industries." The US imported 289 product categories in 2024, costing $US147 billion ($A229 billion), with nearly two-thirds of those aluminium and one-third steel, according to Census Bureau data from the US International Trade Commission. The 25 per cent tariffs on steel and aluminium were among the earliest implemented following Mr Trump's return to the White House in January and came into effect in March. Australia will continue to push for Mr Trump to drop his tariffs after a US federal court blocked his Liberation Day taxes on imported goods from going into effect. Goods from Australia are subject to a 10 per cent baseline tariff, while all steel and aluminium imports to the US face 25 per cent tariffs before Mr Trump's latest announcement. The New York-based Court of International Trade found the US president had overstepped his authority by imposing the tariffs. The administration launched an appeal, decrying "unelected judges" should not decide how to address a "national emergency". Labor has sought to temper expectations on whether it can land a deal with the US to remove the tariffs.
Yahoo
20 hours ago
- Business
- Yahoo
Key detail as student debt set to soar
Millions of Aussies with outstanding student debt will have their deficits deepened on Sunday, with a promised slashing of student debt still about two months away. One of Labor's big ticket pre-election promises was to slash HECS, VET and apprenticeship loans by 20 per cent as soon as Anthony Albanese's government was re-elected. People's debt will jump on Sunday when the annual increase kicks in, as laws to make the 20 per cent cut won't be introduced to parliament until MPs return to Canberra in late July. 'It will be the first bill that we introduce into the parliament when parliament sits for the first time in the last week of July,' Education Minister Jason Clare said this week. Student debts will be jacked up 3.2 per cent on Sunday, in line with the consumer price index. But once legislation for the 20 per cent cut is passed, debts will be slashed retrospectively, and the indexation applied will be adjusted to reflect the lower balance. This means the indexation increase will only apply to the amount owed before the June 1 increase, minus 20 per cent. Slashing student debts by 20 per cent will cost the federal budget $700m during the next four years, and $16bn over the coming decades. The average student debt in Australia is about $28,000; last term, the federal government tweaked the annual increases after debts skyrocketed during the back-end of the pandemic with massive inflation. 'I think everyone listening will know somebody in this situation and perhaps will know that HECS debts are bigger today than they were when I went to uni, when many of us went to university – that by cutting this debt by 20 per cent, it's going to help a lot of people get a good start in life, make it easier to get out there and buy their first home,' Mr Clare said on ABC radio this week. Higher education was free in Australia from 1974 until 1989. Initially, all degrees then cost $1800, but in 1996 the federal government brought in three-tiered rates. The current Education Minister, Mr Clare, finished with a bachelor of arts and a law degree from UNSW in 1998. The laws required to slash student debts by 20 per cent will have other functions too. 'It will change the amount of money that you have to earn before you start paying your debt back,' Mr Clare said. The threshold to start paying off the debt will rise from $54,000 to $67,000. For someone being paid $70,000, repayments should decrease $1300-per-year. 'It means more money in your pocket,' Mr Clare said. Laws need to change so the tax office can wipe 20 per cent off the debts. Labor will have to rely on the Greens to pass the laws through the senate. During the election campaign, the Greens said they would wipe all student debt if elected.
