Anthony Albanese repeats there will be no compromise on biosecurity measures, the PBS or loosening restrictions on tech giants when it comes to producing local content and paying for Australian news.

Albanese then urges people to calm their farms when thinking about the impact on Australian trade:

While we have an important trading relationship with the United States, it’s important to put this in some perspective. It only accounts for less than 5% of our exports.

Many other countries will be hit much harder by today’s decision than Australia, and because it is across the board with no exemptions, of course, there’s an argument, actually, about comparative impact of these – this decision made by President Trump, that puts us in a position where I think no nation is better prepared than Australia for what has occurred today.

For three years, my government has been working to make Australia’s economy more resilient and our exports more diverse. We have deepened our economic engagement in north-east Asia, South-East Asia and India. The fastest growing region in the world in human history.

He then talks about the trade agreements with India and the UAE and expanding trade with the UK, EU and Indonesia which has occurred as part of the diversification strategy Australian governments began undertaking over the last 10 years, which has been turbo charged in recent years.