Shadow Minister for Trade, Investment and Tourism, Kevin Hogan, said Prime Minister Albanese is failing in our relationship with the United States.
Mr Hogan said first it was the steel and aluminium industry, and now potentially our pharmaceutical industry. This follows reports the Trump Administration intends to place a 200% tariff on pharmaceutical exports and 50% on copper exports.
“This would be a serious escalation. Pharmaceutical exports to the United States are worth more than $2 billion annually and represent over 40 per cent of Australia’s total pharmaceutical export market,” Mr Hogan said.
“This should have been raised at the highest levels months ago. It is frankly embarrassing that our Prime Minister has still not secured a meeting with President Trump.
“I don’t believe the PM has done everything he can to advance this important relationship. The Coalition, when in government, successfully negotiated exemptions from damaging U.S. tariffs. Labor has dropped the ball and Australian businesses are paying the price.”
Mr Hogan said this is about our national interest.
“The government’s inaction is hurting Australian families and businesses. It’s time for the Prime Minister to lead.
“Australia’s economic and security relationship with the United States is one of our most important. However, Australian exporters are facing uncertainty with no resolution since tariffs were imposed earlier this year and no voice at the table fighting for them.”
Mr Hogan reaffirmed that the Coalition stands ready to work in a bipartisan manner to support Australia’s economic and strategic interests.
“This is a critical relationship that needs urgent attention. The Prime Minister must act before more damage is done to Australia’s export economy.”
