Anthony Albanese has laughed off claims from Donald Trump that world leaders are sucking up to him in order not to be hit by huge tariffs on their exports to the US.
The US President boasted that prime ministers and presidents have been grovelling up to him pleading to make a deal ever since he slapped sweeping tariffs on 90 nations last week, including Australia.
‘These countries are calling me up, kissing my ass… they are dying to make a deal,’ President Trump told a group of Republican donors at a dinner on Tuesday night.
‘They are, they are dying to make a deal. ‘Please, please, sir, make a deal. I’ll do anything’,’ he said as his audience laughed.
Mr Albanese insists he’s not one of them and that he only deals with other countries, including America, ‘as an equal’.
The Prime Minister responded to President Trump’s latest comments while campaigning for the May 3 federal election in Cairns in north Queensland on Wednesday.
That’s not the way I deal with leaders,’ Mr Albanese said.
‘I deal as an equal with countries that I engage with … the two conversations that I’ve had with President Trump are ones in which I stand up for Australia’s national interest.’
Anthony Albanese (pictured with his partner Jodie Haydon) has responded to claims from Donald Trump that world leaders are ‘kissing his ass’
The US President (pictured) boasted that prime ministers and presidents of other countries are ‘calling up to kiss my ass’, but Mr Albanese said he is not one of them
Mr Trump’s bragging came amid a stock market meltdown in the US and across the world in response to tariffs ranging from 10 per cent imposed on Australia, to more than 100 per cent imposed on China.
The US stock market has lost trillions of dollars, and the Australian stock market has lost billions, since the tariffs were imposed amid fears of a global recession.
Despite the values of shares tanking around the planet, Mr Trump also boasted that he had the ‘most successful 100 days in the history of this country’.
Though his crude choice of language suggested the calls from foreign leaders were at least being answered, that is not the case.
‘Many of us have already written to (the Trump administration) asking for meetings,’ an official from the Philippines told Politico.
‘We are all waiting for the reply,’ he added, referring to representatives from several south-east Asian countries.
The tariffs’ costs will be paid by American consumers through higher prices for foreign goods, which could lead to some countries selling their products cheaper to Australia to make up for the coming drop in sales.
The 104 per cent tariffs on Chinese exports to the US, which came into effect on Wednesday, could mean Australia is soon flooded with a glut of cheap Chinese goods that would otherwise have been destined for the US.
The Prime Minister (pictured) insisted that he only deals with other countries, including America, ‘as an equal’
Items most likely to fall in price in the coming months include electronic goods and clothing.
Grattan Institute chief executive and economist Aruna Sathanapally said this could bring inflation down.
‘We’ve potentially got things that could bring down prices in terms of global trade being redirected from the US to other markets,’ she told Daily Mail Australia.
‘Inflation has already really dropped quite dramatically over the past two years – we’re now moving into a new phase.’
The one major problem with this scenario, though, is that a weak Australian dollar, now trading at a new five-year low of 59 US cents, means some imports sold in Australia, such as cars, could end up being more expensive, as the manufacturers’ price them in US dollars, regardless of where they’re sold.
