Ciobo confident in US trade relationship0:59
Steve Ciobo insists there is no point hyperventilating over trade ties with the US
Australia's Trade Minister Steve Ciobo said if President elect Donald Trump kills the Trans-Pacific trade deal he had no trade options with other countries. Picture: AAP / Lukas Coch
COUNTRIES involved in a landmark trade deal could go ahead with it if the United States pulls out although the agreement is unlikely to survive under such conditions, the federal government acknowledged today.
But Trade Minister Steve Ciobo says Australia doesn’t have all its eggs in the Trans-Pacific Partnership basket and is still pursuing a number of bilateral trade deals as well as a comprehensive regional economic partnership.
“If it comes to pass that the TPP doesn’t secure United States domestic ratification, it is certainly not the end of trade globally as we know it,” he said on ABC’s Insiders program.
Although incoming US president Donald Trump had strong rhetoric against trade deals during his election campaign, Mr Ciobo didn’t believe he was anti-trade.
“He said he wants trade deals that are better for American workers, better for American wages and help America’s budget position,” he said.
“Those are goals that aren’t dissimilar to mine for Australia.”
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President elect Donald Trump has promised to put a tax of overseas goods to try and protect American industry and boost jobs. Picture: AFP / Jim WatsonSource:AFP
Mr Ciobo believes Barack Obama will still try and get the “lame duck” session of Congress to agree to the TPP but says its passage is “less likely than likely” in the wake of Mr Trump’s election.
Nonetheless, Australia and the other 10 countries party to the deal will keep trying to convince America of its merits.
“But really with the United States not being part of it, first of all ... officially the TPP would not get up,” the minister said.
“Secondly, if we looked at, well is there still enough merit to look at a trade deal among the 11 of us, it changes the metrics substantially.”
