Labor to take Future Made in Australia 'to another level' to respond to Trump 2.0
Finance Minister Katy Gallagher has told Capital Brief that the government's key industrial policy is being recalibrated to respond to Donald Trump's tariffs.
The Albanese government will double down on its Future Made in Australia (FMIA) plan in Tuesday’s budget, in an effort to better position the nation to respond to Trump-era tariffs and a potential trade war.
Finance Minister Katy Gallagher told Capital Brief that the $22.7 billion industrial policy will be taken to “another level” and backed by a “Buy Australian” campaign, following Labor’s failed attempt to secure an exemption from US tariffs.
She also said Trump administration-style cuts to the public service wouldn't be accepted by Australians, because "we're different" and want a "more helping hand approach across our community".
The FMIA measures, unveiled in last year’s budget, were initially pitched as a response to Joe Biden’s Inflation Reduction Act, which poured billions into climate infrastructure. But Gallagher suggested the policy is now being recalibrated to respond to Donald Trump’s escalating trade war.
