“Clearly, neither we nor our allies are going to go together with that sort of system,” Greer stated. “It’s a transparent repudiation of the whole lot we’ve been working towards for the final six months.
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“The USA gained’t stand for it… [But] this isn’t nearly the USA. China’s announcement is nothing greater than a world provide chain energy seize.”
Heightened tensions over uncommon earths are a possible boon for Albanese as he prepares to fulfill Trump on the White Home on Monday, armed with a proposal to produce important minerals to the US.
The Australian authorities, together with Commerce Minister Don Farrell and ambassador to the US Kevin Rudd, has been scrambling to lock in the deal ahead of Albanese’s visit.
The all-important minerals are important for navy {hardware}, smartphones, electrical autos and all method of chip-driven merchandise. Australia has about 36 of the 50 mineral commodities that the US deems important.
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Since Trump backed away from unprecedented 145 per cent tariffs on Chinese language items earlier this 12 months, the 2 financial superpowers have agreed to a sequence of 90-day truces whereas engaged in powerful commerce negotiations.
These talks have soured, nevertheless, with Trump final week threatening to impose 100 per cent tariffs on China if it proceeded with further export controls on uncommon earths.
Bessent stated on Thursday (AEST) the 2 nations had been nonetheless engaged in “working stage conferences”, and he anticipated Trump would nonetheless meet Chinese language President Xi Jinping on the ASEAN summit in Malaysia later this month as deliberate. “So far as I do know, President Trump is a ‘go’ on that,” Bessent stated.
However he stated the most recent provocations from Beijing ought to be a transparent signal to US allies that they need to work collectively to de-risk provide chains and diversify away from China as shortly as doable.
Earlier than leaving for the US, Chalmers stated he would use the journey to promote Australia as an funding vacation spot at a time of worldwide churn and uncertainty.
“Whether or not it’s the AI [artificial intelligence] alternative or cleaner and cheaper vitality, we’ve acquired an awesome story to inform the world, and I intend to inform it,” he stated.
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