Treasurer seeks trade balance in latest US tariff talks
Jim Chalmers rejected calls to increase defense expenditures in line with NATO allies, while suing his US colleague to remove the tariffs imposed by the American.
The Treasurer spoke to the US Treasury Secretary Scott Bessent on Wednesday, when the couple spoke for the third time.
Dr Chalmers wanted to make an agreement to take Australian exports to the USA, imposed by President Donald Trump to the USA.
“This was a very positive discussion, a very productive discussion,” he said, on Wednesday.
“When it comes to trade and tariffs and these increasing trade tensions in the world, I once again made our case.
“The global economic environment is very uncertain, very unpredictable and very variable.”
Australian goods are 50 percent to enter the US with 10 percent tariff, while leech, steel and aluminum products are 50 percent.
Since Deputy Prime Minister Richard Marles represents Australia at the NATO summit in The Hague, it remains unclear whether it will hold a face -to -face meeting with Mr. Trump at the Meeting of World Leaders.
After choosing other Indo-Pacific leaders, Mr. Marles joins the replacement of Prime Minister Anthony Arbanese, who pulled the pin on a potential journey to The Hague.
Mr. Albania’s first face -to -face meeting with Mr. Trump at the beginning of June was canceled after a rise in the conflict between Israel and Iran in the Middle East.
When asked if he would meet with the President of the United States, Mr. Marles said he has not yet been approved.
“Not especially on the agenda and I do not want to exaggerate any of this,” he said at the security summit on Wednesday.
“We are in big rooms with many people, and these meetings, such meetings are quite fluent in terms of bilaterally.”
Since NATO countries put pressure on the allies to increase the money spent in the region, the US agreed to increase defense expenditures to five percent of GDP.
While the US invites Australia to raise its defense expenditures to 3.5 percent, the Federal government aims to increase it from two to 2.3 percent to 2033/4 percent.
Dr Chalmers stopped with the government’s expenditure despite the increase in the allies.
“It is not unusual for our partners and friends around the world to express or prefer to spend more spend on the defense. In fact, we are already increasing our defense investment.”
“Obviously we have seen announcements outside Europe. We follow these developments very closely… But we are already increasing our defense investment significantly.
“This was guaranteed and that’s why we do it.”
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