Australian Senator Penny Wong will attend President Donald Trump's inauguration, raising questions about the future of trade relations between the two countries. Trump's protectionist trade policies, including tariffs on goods from Canada, Mexico, and China, have sparked concerns in Australia about a potential escalation in trade wars.
The senator will attend the Washington, DC, event on January 20 (early January 21 AEDT) with Australia's ambassador to the US, Kevin Rudd. 'I am honoured to be invited to attend President Donald Trump 's inauguration. It is a demonstration of the steadfast alliance between Australia and the United States,' she said in a statement.Foreign Minister Penny Wong has accepted an invitation to US President-elect Donald Trump 's inauguration.
(Alex Ellinghausen) 'This early visit will be an important opportunity to discuss how we can advance the benefits of our strong economic and security partnership and expand our cooperation.' World leaders have been waiting for signs of what Trump's second presidency will bring and Australia is no exception. The billionaire has captured headlines in recent days for bellicose comments about Canada, Mexico, the Panama Canal and Greenland – particularly his failure to rule out using military or economic action to take control of the latter pair.remains one of the key questions, particularly in Canberra thanks to Australia's heavily trade-based economy. Trump has said he would impose a 25 per cent tax on all products entering the country from Canada and Mexico, and an additional 10 per cent tariff on goods from China, as one of his first executive orders. There was no word on specific measures targeting Australia but the potential for an escalating trade war or flow-on effects from a weaker Chinese economy had many experts worried. Trump has said he would impose a 25 per cent tax on all products entering the country from Canada and Mexico, and an additional 10 per cent tariff on goods from China, (AP) 'If it becomes a tit-for-tat dynamic where things start to spiral – where countries engage in beggar-thy-neighbour tariff increases to get an advantage over one another – then global trade declines and global welfare declines,' Australian National University Coral Bell School of Asia Pacific Affairs Professor Wesley Widmaier told the'My sense is other countries have more to lose than the US, and they're probably going to be more cautious.'said the country had 'more at stake than most', sharing treasury modelling predicting a 'small reduction' in Australia's economic growth under Trump and an increase in prices in the short term. Prime Minister Anthony Albanese brought up trade in his first conversation with the newly elected Trump and promised to continue to advocate for a 'fair trading system'. 'I pointed out that Australia has, or the United States has, a trade surplus with Australia,' he told ABC radio in November. 'So it's in the United States' interest to trade fairly with Australia, but it's also obviously in Australia's interests.'In Trump's first term, the Turnbull government was able to arrange an exemption from steel and aluminium tariffs but it's unclear what measures, if any, the foreign minister could or would request this time around
TRADE WAR AUSTRALIA TRUMP TARIFFS ECONOMICS
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump invites Wong, Rudd to attend inauguration despite previous insultsForeign Minister Penny Wong and Australian Ambassador to the United States Kevin Rudd have been invited to attend the inauguration of US President-elect Donald Trump.
Read more »
Foreign Minister Penny Wong to attend Donald Trump's swearing-in ceremonyUS President-elect Donald Trump's inauguration will be attended by Australian Foreign Minister Penny Wong as well as other foreign dignitaries as Australia seeks to dodge punishing tariffs promised by the populist leader.
Read more »
Trump to Attend Carter's FuneralDonald Trump confirmed he will attend former President Jimmy Carter's funeral services in January. While a critic of Carter during the campaign, Trump expressed gratitude for his service to the country after his death.
Read more »
Donald Trump says he is planning to attend Jimmy Carter's funeralAsked about it as he walked into a New Year&x27;s Eve party at his Mar-a-Lago club in Florida, Trump responded, "I&x27;ll be there.”
Read more »
Trump’s America: Trump believes in polio vaccines, promises medicine cost reviewDonald Trump held a wide-ranging news conference for the first time since winning the election; three dead in Wisconsin school shooting. Follow live updates.
Read more »
‘Trump hates China more’: Mexicans bet that Trump is bluffing on tariffsAs Donald Trump vows an expanded trade war, businesses in Mexico are continuing with factory expansions. They assume their country remains central to America’s goal to get less dependent on China.
Read more »