Labor offers $1bn in loans to Australian export companies and seeks to loosen US trade ties after Trump tariffs

Labor will provide $1bn in zero interest loans to help export-focused companies tap alternative markets, as Australia seeks to loosen trade ties with the US in response to Donald Trump’s new tariffs. The lending facility would complement a separate initiative by the government to fund representative bodies of affected sectors “to secure and grow new markets”. The pledges, announced on Thursday, were made shortly after Trump’s “liberation day” speech. The US hit Australia with a 10% tariff in response to claims that Australia imposes the same sized impost on US goods through various trade barriers, a claim that Albanese disputes.

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