How does this compare to when China put tariffs on certain Australian imports (remember when lobster suddenly became available everywhere for about the same price as prawns?)

Before Anthony Albanese answers it is important to note that when China applied its tariffs, it was ONLY to Australia. Trump has applied tariffs to EVERYONE. So everything being imported in the US just got more expensive, no matter where you import it from.

Albanese:

Let’s put beef to one side. In respect of all the products, we’ll continue to sell our product into the United States. What we’re going to do is look for other markets as well, to sell our products in. Now, you’re right – the agreement with the European Union did fall over, over beef imports into the EU. The world has changed as of today.

The world has changed for Europe. Europe is now subject to a much higher tariff into the United States. If they’re sensible, they’re make up a better offer on the issues that made the agreement fall over last time, and we’ll get a free trade agreement with the EU. The largest economy in the world.

Time for the questions.
Does Anthony Albanese think Australia actually emerged OK compared to other countries?

Albanese:

There’s no doubt that there’s no-one has got a better deal. And people will see that themselves. That doesn’t mean it’s a good thing. It’s very clear that President Trump was determined to go down this road.

We have made very strong representations. Ministers, our ambassador, people in the embassy, people at departmental level, we’ve used every asset at our disposal.

But what it does mean – it’s a bit like what I was saying yesterday. Steel and aluminium, there’s not more steel and aluminium being produced in the United States today than there was in February.

If you have a tariff across the board, that has a – a comparatively neutral position for imports coming in.

Indeed, some countries have higher tariffs. Canada, for example. Which is another major exporter of aluminium to the United States. This position is the minimum 10%, Norfolk Island is 29%. I’m not sure what Norfolk Island’s major exports are to the US or why it has been singled out, but it has. On the table that is there. It’s across the board. It’s quite clear the Trump administration was determined to do this.

Penny Wong is next. She says Australia will continue to engage with the United States “to seek to remove these unfair 10% tariffs on Australian goods. We believe that it’s by negotiation, by discussion, by sitting down and explaining to people the issues at hand that we can best present the case for Australia”.

Which is all very sensible mum trying to talk her adult child out of dropping out of university to become a content creator vibes.

She also goes through the trade deals and says on Monday she will speak with her EU counterpart and says while everyone knows how the last chats with the Europeans went “I think things have changed”.

And the opportunity to have further negotiations about a free trade agreement on better terms than have been previously offered now exists.

We should take that opportunity.

The last month, I have spoken to all of our major trading partners and we’re going to continue expanding our trade opportunities with them. I also had the opportunity to speak to all the affected industries by these decisions, the Prime Minister’s outlined the way in which we’re going to continue to support those industries, but in particular, push them out the door into new markets.

That’s what we’ve got to do.

We got to push Australian companies out in the world, why is that? Well, because we know that if you’re an export-focused company, your profits are higher but more importantly, the wages of your staff are higher. So, we have now a renewed opportunity, people want to talk to us, we want to talk to them, it’s all about expanding our opportunities to get our wonderful food, wine, and manufacturing product to the rest of the world.

Trade minister Don Farrell now has carriage of the press conference and everyone is doing a very good job of trying to look interested.

He ends by pleading for unity, which is a message for an audience of one: Peter Dutton.

(Actually this might also include Rupert Murdoch, the entire Australian newsroom and Gina Rinehart.)

We succeed best in this pursuit when we stand together as Australians. When we stand up for Australians together. So I would say this – this is a day for anyone who is a political leader or aspires to be a political leader to be part of that unity. And stand with us for Australia.

As part of this press conference, Anthony Albanese drops this line:

A Labor Government will establish a critical minerals strategic reserve.

But says there will be more detail coming over the next few weeks of the campaign.

That is the first Labor has publicly spoken about a critical minerals reserve (which is what we should have been doing on gas from the beginning) but there have been hints.

This is the critical minerals strategy announced last year which included exploration and also supply chain measures. This will be the next step.

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.

Anthony Albanese then gets a bit tougher (in language – we are not actually doing anything:

Our shared history, our friendship, our alliance, these are all bigger than a poor decision.

But the Australian people have every right to view this action by the Trump Administration as undermining our free and fair trading relationship and count tore the shared values that have always been at the heart of our two nations’ longstanding friendship. This will have consequences for how Australians see this relationship.

These are uncertain times, but Australians can be absolutely certain of this: Our Government will always stand up for Australian jobs, Australian industry, Australian consumers, and Australian values. That is why we have been crystal-clear with the United States about what is not up for negotiation.

This has very “this is going to ruin the tour. The world tour’ vibes, for people who are as terminally online as I am.

Anthony Albanese has toughened his language against the US president. Anyone would think there is an election campaign on and that maybe, just maybe, our leaders have worked out that the public doesn’t want Australia kowtowing to the US. But Australia will not be imposing reciprocal tariffs (which would be paid for by Australian consumers)

Albanese:

The unilateral action that the Trump Administration has taken today against every nation in the world does not come as a surprise.

For Australia, these tariffs are not unexpected, but let me be clear – they are totally unwarranted. President Trump referred to reciprocal tariffs.

A reciprocal tariff would be zero, not 10%.

The administration’s tariffs have no basis in logic and they go against the bases of our two nation’s partnership. This is not the act of a friend.

Today’s decision will add to uncertainty in the global economy and it will push up costs for American households. It is the American people who will pay the biggest price for these unjustified tariffs. This is why our Government will not be seeking to impose reciprocal tariffs. We will not join a race to the bottom that leads to higher prices and slower growth.

We will stand up for Australia. We will continue to make the strongest case for these unjustified tariffs to be removed from our exporters.

Our existing Free Trade Agreement with the United States contains dispute resolution mechanisms. We want to resolve these – this issue without resorting to using these. As we do support continued constructive engagement with our friends in the United States.

You may remember that Australia never actually landed an EU trade deal. After months and months of back and forth, the negotiations were shelved. The sticking point, was agricultural products. Australia accused the EU of not allowing enough access to its market for Australian beef, sheep, dairy and sugar.

Given agriculture is one of the industries Trump has singled out and that he has also singled out the EU so comprehensively, well you would imagine that there has been at least some chatter between Australia and its EU counterparts about maybe getting that deal back on the table.

Anthony Albanese has announced a press conference for 8.20am. It is with trade minister Don Farrell and foreign minister Penny Wong.

This is not a friendly campaign doorstop press conference – this is a serious one, in a room and everything. You already know there will be flags.