“If the government doesn’t get its skates on, we’re going to have further tariffs applied to Australia,” he said.

Opposition leader Peter Dutton said he’s concerned “about a second round” of US tariffs. Source: AAP / Russell Freeman

The Opposition says the federal government should have Prime Minister Anthony Albanese meet with Trump to negotiate concessions.

Trump says tariffs are a crucial tool to revitalise US industries that have withered due to decades of globalisation. But they have also sparked fears of global trade war, roiling financial markets and raised US recession fears.

Looking for ‘leverage’

Critical minerals include graphite, uranium, and lithium, a key component for electric car batteries.

Australian ambassador to the United States Kevin Rudd says the second Trump administration is more protectionist on trade policy, and more transactional in its negotiations. Source: Getty / John Lamparski

Currently, the US relies on China for these minerals, but a deal with Australia could reduce its dependency.

“I’m sure he’s well intentioned but he can not open any doors, has no respect and has no relationship with the current administration — and that is a real problem for Australia,” he said.

A different administration

“This administration is more nationalist on questions of foreign policy, more protectionist on trade policy, and much more transactional in its overall approach to international negotiations,” he said.

— With reporting by the Australian Associated Press