Overview

• Australia has officially declined China's proposal to form a joint alliance to counter US tariffs, with Deputy Prime Minister Richard Marles emphasizing the country's independent stance.
• The Trump administration has imposed a 125% tariff on Chinese imports while enacting a 10% baseline tariff on Australian goods, following a 90-day pause for most other nations.
• China's ambassador to Australia, Xiao Qian, called for joint resistance against US 'hegemonic and bullying behavior,' but Australia opted to focus on diversifying trade relationships instead.
• China remains Australia's largest trading partner, accounting for 32.5% of its exports in 2023, compared to the US, which represented just 6%, highlighting the complexity of Australia's economic positioning.
• Australian leaders, including Prime Minister Anthony Albanese, are actively pursuing new trade partnerships with countries like India, Indonesia, and the UK to reduce reliance on both China and the US.