In addition to the extra money, the government said it would also prioritise Australian firms in government procurement and establish a critical minerals strategic reserve to underwrite critical mineral production and supply.
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Anthony Albanese, said Australia had made “strong representations” to the US in an attempt to dissuade Trump’s administration from imposing tariffs on Australia and it had not been specifically targeted as other nations were.
“No one has got a better deal. That doesn’t mean it’s a good thing [but] it’s very clear that president Trump was determined to go down this road,” the prime minister said.
Albanese called Trump’s new regime illogical and self-harming, but confirmed his government would not respond with reciprocal tariffs.
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