The CEO of Australia’s US Chamber of Commerce says the country can adapt to a changing trade environment.
As the Trump administration continues to rapidly restructure the US economic situation, Australia must act quickly or risk being sidelined, warning April Palmary, CEO of Australia’s American Chamber of Commerce (AMCHAM).
Fresh from the conference in Washington, Palmerlee spoke only with the Epoch Times, highlighting our move to attract global capital and investment.
“The competition for capital is fierce, and the US government is moving rapidly, creating a highly competitive situation for global investment,” she said.
“Australia has a risk left if they don’t focus their attention on raising productivity, streamlining regulations and improving permits for new projects.”
Palmerlee said there are important mineral and rare earth opportunities in Australia.
“However, unless Australia can provide a stable investment environment with sensible energy policies, productive regulatory reforms and a competitive individual and corporate tax structure, Australia could be overlooked in favour of a more attractive destination.”
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April Palmary, CEO of the US Chamber of Commerce in Australia. Courtesy of April Permary
Despite trade tensions, she is optimistic about Australia’s export resilience.
“Given the difference between Australia and the US dollar, Australian imports are at very competitive prices and of the highest quality for US consumers.”
The Chamber of Commerce CEO also suggested being more strategic when targeting US opportunities.
“Australian companies need to work with the US to look for opportunities in sectors such as energy, critical minerals, defense, healthcare, digital innovation and space,” she said.
Palmerlee also proposed that individual companies and industry leaders can network with US state-level governments. They have a unique interest in expanding their jurisdiction and attracting foreign investments.
“To this end, the SelectUSA (Investment Summit) from May 11-14 provides foreign companies with FaceTime to all US state and territorial economic development offices, and also gives insights from cabinet-level officials.”
Australia – China trade outlook
Palmary also said that China’s situation must be monitored given its deep reliance on trade with Australia’s country.
In 2023, China accounted for $219 billion in Australia. This represents 32.5% of the country’s total export value.
China is heavily affected by US tariffs and faces an obligation of up to 125% on exports. In response, China announced an 84% retaliatory tariff on US imports.
In response, the Trump administration raised tariffs to 145%, and Beijing responded again by raising tariffs to 125%.
However, despite Beijing’s proposal to unite against US tariffs, the Australian government has firmly insisted on its independence.
Prime Minister Anthony Albanese refused to join the anti-American coalition, and Australia repeatedly “speaks of itself.”
Palmerlee also suggested that changing the dynamics of global trade could lead to unexpected benefits.
“Just as Australian manufacturers had to find new markets for their products when they froze from China a few years ago, Chinese producers may need to find alternative stores for their products if tariffs are not competitive with US consumers.
“This could enable Australian consumers to access additional products at a lower price.”
Last week, Deputy Prime Minister Richard Marles reaffirmed Australia’s commitment to diversifying trade ties, citing strengthening ties with India, the UK and the United Arab Emirates and others.
Complementing this effort, Trade Minister Don Farrell reportedly was involved in recent discussions with his counterparts in Japan, Singapore, South Korea and India.
