Overview

• Speaking at the AFR Asia Summit, Don Farrell said Australia must double down on a rules-based trading system in response to a U.S. shift toward executive-order tariffs.
• He argued the World Trade Organization requires reform and must be seen to serve the interests of all participants.
• Farrell said regional, plurilateral and bilateral trade agreements can reinforce global rules while opening new markets and sectors for Australia.
• He emphasized that partnering with Asian economies strengthens efforts to uphold predictable, rules-driven commerce.
• He noted that U.S. sectoral levies have hit Australian steel and aluminium despite a free-trade agreement and cited Chinese pressure on critical minerals as a growing strategic concern.