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3w ago

Australia Braces for U.S. Tariffs on Agriculture and Pharmaceuticals

Prime Minister Albanese and Opposition Leader Dutton outline diverging strategies as Trump administration prepares tariff announcement on Australian exports.

Australian Prime Minister Anthony Albanese attends a press conference in Canberra, Australia, March 28, 2025. AAP/Mick Tsikas via REUTERS/File Photo
US President Donald Trump is preparing to announce an array of tariffs on 2 April, which he is promoting as 'Liberation Day' for America.
Anthony Albanese and Donald Trump at press conferences in suits.

Overview

  • The Trump administration is expected to announce new tariffs on Australian agricultural and pharmaceutical exports on April 3, 2025.
  • Prime Minister Anthony Albanese has ruled out retaliatory tariffs and reaffirmed Australia's commitment to protecting key policies, including biosecurity and the Pharmaceutical Benefits Scheme.
  • Opposition Leader Peter Dutton has adopted a confrontational approach, stating he is willing to challenge Donald Trump to defend Australia's national interests.
  • Australia's exports to the United States account for less than 5% of its total goods exports, with beef being a major export worth A$4 billion annually.
  • Both Albanese and Dutton are emphasizing their trade strategies as they campaign ahead of Australia's May federal election, with diversification into Southeast Asia and India being a key focus.