Biden administration trade sanctions feared by Labor – MASHAHER

ISLAM GAMAL21 August 2024Last Update :
Biden administration trade sanctions feared by Labor – MASHAHER


The US last imposed protective tariffs on Australian lamb in the late 1990s under then president Bill Clinton, at the demand of US senator Max Baucus.

Farrell is also meeting Republican members of Congress and potential officeholders in a Trump administration.

The US lamb industry has petitioned the Biden government to curb Australian and New Zealand lamb imports.Credit: Bloomberg

Trump has proposed an across-the-board tariff of 10 to 20 per cent on all imports from all countries, with additional tariffs of 60 per cent or more on imports from China.

Farrell said he is seeking to dissuade Republicans from imposing tariffs on any country, and on Australia in particular: “So we’re trying to cover all bases in the election.”

“In the past, there have been exemptions for Australian goods,” he said, referring to successful Australian lobbying to persuade the Trump administration to spare its steel and aluminium products from tariffs.

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“You know, we’re free traders. We think we can sell our products to the world if there’s a level playing field. We would be arguing that our special relationship within the US, particularly our AUKUS relationship, should mean that the tariffs shouldn’t apply, but we don’t want them to apply to anybody.”

Farrell will also visit the planned US site for PsiQuantum, the Australian-led, US-based company chosen by the Albanese government to build the world’s first commercially useful quantum computer.

The Australian and Queensland governments in April committed a combined $940 million to build PsiQuantum’s first site in Brisbane.

In recent days the US government has joined with the Illinois state government to invest $US640 ($970 million) in the company’s second facility, to be built in Chicago.

“So you could say the Americans are coming in on our coat-tails,” said Senator Farrell, “and that’s a good thing”.

A single quantum computer, once the technology is perfected, will have as much computing power as all the existing computers on earth combined, according to UNSW quantum expert Michelle Simmons.

The Australian and US investments in the company make it important that the two governments co-operate, Farrell said.

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Source Agencies

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