Albanese makes fresh pitch to Trump for Australia to be given relief on tariffs

Prime Minister Anthony Albanese called US President Donald Trump to request relief from tariffs imposed on Australia. Trump agreed to "consider" the request. During their conversation, which was described as productive and "very warm" by Albanese, he asked for a "full exemption" or at least no increase in the tariff. Australia is facing a 12.5% tariff on various products, imposed on the grounds that it hasn't adequately addressed forced labor issues.

Albanese cited Australia's strong record on modern slavery and reminded Trump of the Australia-US Free Trade Agreement. While the two leaders have differing views on tariffs, Albanese emphasized that Australia's friendship with the US should be taken into account. The leaders plan to continue discussions when Albanese visits the US later this year.

The meeting between federal, state, and territory treasurers also endorsed reforms aimed at boosting heavy vehicle productivity, which could increase GDP by up to $4.4 billion annually. These reforms will receive $400 million in funding from the National Productivity Fund. Meanwhile, the Productivity Commission's interim report on the distribution of the GST recommended adjusting the special treatment given to Western Australia, a move that Treasurer Jim Chalmers vowed to uphold.