Australia’s newly re-elected Labor government will give top priority to addressing the “dark shadow” of the ongoing U.S.-China trade tensions, according to Finance Minister Jim Chalmers. He made this statement on Sunday, highlighting how concerns over U.S. trade policies and the global economy were central to the election campaign. This was reported by Reuters.
Anthony Albanese, leader of the Labor Party, has been re-elected as Prime Minister for a second consecutive term — the first time in two decades that a leader has achieved this. In a statement, Albanese said, “We will run a disciplined and orderly government in our second term, just as we did in our first.”
According to projections by the Australian Broadcasting Corporation (ABC), the center-left Labor Party is expected to increase its majority in Parliament from 77 to 86 seats. This is despite earlier polls suggesting they would struggle to retain control of the 150-seat lower house. About three-quarters of the votes have been counted, with counting to resume on Monday.
The recent election in Canada had echoes in Australia, as opposition leader Peter Dutton lost his seat. While voters were initially concerned about the cost of living, their focus later shifted to U.S. President Donald Trump’s tariff policies and related issues.
Speaking to reporters at a coffee shop in his Sydney constituency, Albanese said the Australian people voted for unity, not division. He also shared a personal note, recalling that his late mother used to bring him to that very place during his childhood.
Although earlier polls showed dissatisfaction with the Labor government’s handling of inflation, public opinion shifted in March after the conservative opposition proposed major cuts to the federal workforce. This proposal was compared to Trump-era downsizing efforts and was also criticized as discriminatory towards women due to a related proposal requiring employees to return to office five days a week.
Trump’s tariff announcement on April 2 shook global markets and raised concerns among Australian voters about the impact on their pension funds.
Finance Minister Chalmers told ABC, “Our immediate focus is the global economic uncertainty, especially the tensions between the U.S. and China, and how it will affect us. We need the capability to manage that uncertainty, and we will have it.”
Leaders from various countries, including representatives from the U.S. and China, have congratulated Albanese and his team on their re-election.