00:00At Rio Tinto's Queensland aluminium smelter, dealing with global forces can be a precarious
00:10balancing act.
00:11We are going to make Australian steel and aluminium the best in the world.
00:16Now searching for new markets after Donald Trump's decision to slap 25% tariffs on metal
00:23imports.
00:24Disappointing, unnecessary, senseless and wrong.
00:28Treasury estimates the direct hit from these tariffs will be modest, 0.02% of GDP.
00:35But this is just the first round.
00:37The indirect GDP impacts of a trade war could be up to four times larger than the direct
00:43impacts of tariffs on our own economy.
00:46Whether it's tariffs, a slowing Chinese economy or wars in Europe and the Middle East.
00:52This is a new world of uncertainty.
00:54There's disruption at every turn.
01:01It's against this backdrop that Jim Chalmers will next week hand down his fourth budget
01:06with deficits as far as the eye can see and fewer surprises this time around on budget
01:12night.
01:13In keeping with the theme, the Prime Minister will speak with his Canadian counterpart Mark
01:17Carney this evening, a man who's arguably bearing the brunt of Trump's tariff fury.
01:23He was determined to maintain a narrow focus on the economy, contrasting its approach with
01:29that of its political opponents.
01:31We will be seeking a mandate at the next election to keep Australians safe.
01:35Having opposed the voice to parliament, Peter Dutton has proposed another referendum.
01:40This time giving the government absolute power to deport criminal dual nationals.
01:46Shadow Attorney General Michaelia Cash later downplayed it, saying a referendum would only
01:51be a last resort.
01:53Her former colleague was less restrained, George Brandis calling it mad with no chance
01:59of success.
02:00All options are on the table, but we haven't announced that policy.
02:04This is another thought bubble from Peter Dutton.
02:07And that's making some Liberals nervous.
Comments