Lula welcomes foreign firms as Brazil faces U.S. tariffs
Brazilian President Luiz Inacio Lula da Silva said on Friday that foreign companies are welcome to do business in Brazil, speaking at the opening of a...
Australian Prime Minister Anthony Albanese and opposition leader Peter Dutton have both pledged to defend the country’s national interests as the United States signals possible tariffs targeting Australian beef exports.
The United States Trade Representative’s latest report on foreign trade barriers listed Australia’s long-standing ban on U.S. fresh beef—introduced in 2003 after BSE was detected—as a key grievance. It also flagged Australian regulations on pharmaceuticals, digital media, and biosecurity as potential barriers.
Albanese said on Wednesday he would “stand up for Australian interests” and refused to compromise on national standards. He named three areas his government would not yield on: the Pharmaceutical Benefits Scheme, biosecurity protections, and the Media Bargaining Code.
“We won’t compromise because it could do enormous damage to our meat products,” Albanese said, referring to the risk of weakening Australia’s strict biosecurity system.
Peter Dutton echoed the sentiment, telling reporters that he would not hesitate to confront Donald Trump or any world leader if necessary. “My job is to stand up for Australians,” he said. “If I needed to have a fight with Donald Trump, I’d do it in a heartbeat.”
Despite the escalating rhetoric, Albanese confirmed his government would not respond to any U.S. tariffs with retaliatory measures. Instead, he signalled a focus on diplomatic efforts and trade diversification.
Australia exported A$4 billion in beef to the U.S. last year—its largest market—thanks in part to a recent slump in U.S. beef production. Both countries are among the top global beef exporters.
The trade barriers report also criticised Australia’s 2021 law requiring U.S. tech giants like Google and Meta to pay local media outlets for news content shared on their platforms. The Albanese government announced in December it would strengthen the law, including penalties for non-compliance.
Albanese noted that less than 5% of Australia’s goods exports go to the U.S., compared to 25% to China. He said Australia is focused on boosting trade with emerging economies in South East Asia and India.
Australia’s beef exports had previously suffered during a diplomatic dispute with China, which was resolved last year. Now, with Washington’s tone hardening, the industry faces another test.
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A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
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A magnitude 5.2 earthquake struck 56 kilometres east of Gorgan in northern Iran early Sunday morning, according to preliminary seismic data.
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