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ABC News
an hour ago
- ABC News
Donald Trump flags tariffs of 200pc on pharmaceuticals
Donald Trump flags a possible 200 per cent tariff on pharmaceuticals — one of Australia's biggest exports to the US — and says copper could be hit with a 50 per cent levy.
SBS Australia
an hour ago
- SBS Australia
'Political tension': Anthony Albanese, the US and China, explained
As Prime Minister Anthony Albanese prepares to meet with his Chinese counterpart Xi Xinjping, questions have been raised over how the US will view the visit and whether there could be consequences for Australia. The visit comes after US President Donald Trump announced new tariff rates of 25 per cent on some trading partners, including Japan and South Korea. US tariffs on Australian products remain at 10 per cent, but with relations between the two allies strained, could the US respond negatively to Australia potentially strengthening ties with China? Here's what you need to know. Australia's relationship with China Albanese is set to visit China from Saturday, his second trip to the country since he became prime minister in 2022. China is Australia's largest two-way trading partner, and buys almost a third of Australia's exports. Trade between the two countries was worth almost $312 billion in 2024, according to the Department of Foreign Affairs and Trade. The relationship appears to be strengthening after a period of volatility, which included China placing restrictions on some Australian exports between 2020 and 2024. China's ambassador to Australia, Xiao Qian, has called for greater collaboration in fields such as AI, healthcare and green energy under a revised free-trade deal between the two nations. In an opinion piece published in the Australian Financial Review, Xiao wrote that it was "time to advance bilateral relations with steady progress". He wrote that China was willing to review the two countries' trade agreement with "a more open attitude and higher standard", including further consolidating traditional areas and actively pursuing new growth areas. Christoph Nedopil, director of the Griffith University Asia Institute, said while there is a "mutual interest" in strengthening the relationship between Australia and China, this has been years in the making. He does not believe China is seeking to take advantage of rocky relationships between the US and its allies, including Australia. "China has been trying to make bilateral and multilateral alliances even before Trump was in office, it's not that the stabilisation of the Australia-China relationship only came when Trump was in office," Nedopil said. "And a number of the topics that are on the agenda are not new topics." In a press conference on Tuesday, Treasurer Jim Chalmers was asked whether the Australian government was considering freer trade with China, Korea and Japan in response to Trump's tariffs. Trump announced on Tuesday he would impose tariffs of at least 25 per cent on South Korea and Japan from August unless the countries can strike deals with the US. The US imposed tariffs on China of 145 per cent earlier this year and average US tariffs on Chinese exports now stand at around 50 per cent, according to the US-based Peterson Institute for International Economics. While Chalmers did not directly address the issue of the US tariffs, he said stabilising Australia's relationship with China was positive for the economy, workers, employers and industries. "A good, stable, reliable trading relationship with China is key to making sure that our economy continues to grow the right way," he said. "We want good, reliable, diverse trading relationships right around the world. We've got wonderful exports, we've got huge opportunities." Chalmers said the government was "optimistic about the future when it comes to Australia's place in the global economy". 'Political tension' between Australia and the US While Australia's ties with China could be building, the relationship with the US is somewhat strained, according to David Andrews, senior policy advisor at the Australian National University's National Security College. "It's a relationship we've had for decades and decades now, and we have consistently viewed that as our most important strategic partner and one of our closest international friends and alliances," he said. "At the same time, it's clear that we're going through a period of political tension and relational tension." Andrews believes much of the tension has come as a result of Trump's tariffs, which he announced in April, along with "heavy-handedness" of the US government. But he said while the relationship is "challenging" at the moment, diplomacy and international relations are constantly evolving. "There is an ongoing, persistent rebalancing of that relationship to understand what is being asked of us and therefore how much we are willing to accept as well," he said. "I think that the prime minister has been very clear that [in] putting a very public sense of boundary or limit on what we will do and how far we'll go and the implications for the relationship." Could the US change tariffs on Australia? At the time of writing, Australia has not received a tariff increase, meaning most of its exports to the US remain subject to the baseline 10 per cent, while there is a 50 per cent tariff on steel and aluminium exports. The government would continue to try to negotiate a total exemption from US tariffs, Albanese said, even though no country in the world had done so. Andrews said the "status quo" of the 10 per cent tariff is likely Australia's "best case scenario", and pointed out that no other trading partners had been unable to negotiate an exemption. "Obviously, it would be great if we could get some sort of exemption on the steel and aluminium tariff, for example, but I don't see any evidence that's likely to change," he said. "It's a dispositional change in the way the United States views the international economic order, and we can't convince them otherwise. "It would be wildly optimistic to think that we could make any, I think, improvement on our situation." While a tariff reduction or exemption may be unlikely, some have questioned whether the US government could raise tariffs on Australia in retaliation to Albanese's meeting with Xi. Nedopil said it's difficult to predict the actions of the Trump administration. "In a way, the US policymaking at this time seems to be very news-driven and so very short-term sentiment-driven," he said. "So what President Trump might consider as disrespect can lead to a short-term decision announcement that might be more negative." The relationship between China and the US is complex, with the two considered economic and strategic competitors. Nedopil said he believes the rivalry has become "much more intense" on a number of fronts, which he says is "undermining US dominance", which Trump may take into consideration. "And I think the other shift that has taken place ... is that actually a lot of Asian countries and emerging economies are not viewing China as negatively as they used to. "I think there are dynamics that make the US seem not as strong and potentially [not] feel as strong and therefore also trying to hold onto power with a number of different means." Additional reporting by the Australian Associated Press
News.com.au
2 hours ago
- News.com.au
Childcare to join $50m housing project linked to James Packer
A $50m affordable housing development linked to Australian billionaire businessman James Packer has put a call out for childcare operators to join a Geelong project. The planned childcare centre in the northern Geelong suburb of Corio is expected to attract significant interest from childcare operators looking to get a foothold in one of Australia's fastest growing regional cities. The centre is positioned in the heart of the Edenville residential estate being developed by Sivasli Group and will be located at 26-34 Sharland Rd which is at the entrance to the estate. Corio is expected to see a significant ramp-up in residential development. Global second-hand fashion fave eyes big entry to Geelong Melbourne developer Deniz Sivasli's Edenville group is behind the project, backed by a consortium that includes former casino mogul James Packer and investment guru Joe Gersh. Sivasli Group is also planning a 282-home residential estate on the former Flinders Peak Secondary College site in Hendy St, while Cedar Woods Properties has a 400-lot estate on the drawing board after a $35m purchase in January of an 18.6ha Plantation Rd property. The childcare development is designed by Architecton and will accommodate 124 childcare places and feature a bespoke fit-out for the incoming early learning provider across 1771sq m of building area. CBRE's Australian Healthcare and Social Infrastructure team of Sandro Peluso, Jimmy Tat and Marcello Caspani-Muto are managing the expressions of interest leasing campaign. Mr Tat said childcare centres located within residential estates tend to have outstanding occupancy rates because of increased visibility and accessibility for families. 'What truly sets Corio apart is the absence of other childcare development applications within the catchment area, making it a unique and highly attractive option for operators,' Mr Tat said. 'With over 1100 children expected to be born and move into the area over the next five years, we anticipate the demand-to-supply ratio will reach 4.3:1 – a level that is widely considered very favourable for operators.' Mr Peluso said opportunities to develop childcare centres within residential estates were rare. 'Given the highly favourable demographics and strong demand in Corio, the vendor has decided to pursue a childcare development,' Mr Peluso said. 'We expect significant interest from established local childcare providers as well as new entrants looking to break into the suburb, given the robust demand and limited competition in the area.' The Edenville estate, which will deliver 107 new homes on the site of the former Rosewall Primary School, had a difficult journey to approval at Victoria's planning umpire with Geelong's council labelling it a 'significant overdevelopment'. The expressions of interest lease campaign will close late July.
