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Minister's 'Harebrained' Super Plan to Invest in US Farm Supply Chain Hits Wall
Farrell says Australian retirement savings could help expand US meat processing as Washington weighs tariffs on $1.5 billion in lamb exports.
- On Thursday, Trade Minister Don Farrell proposed investing Australian superannuation savings in US lamb facilities during a G20 meeting in Milwaukee to help avoid potential tariffs on Australian exports.
- American sheep producers and Republican members of Congress have lobbied for new tariffs, accusing Australia of having 'consistently taken advantage of our relaxed barriers' to infiltrate the US market.
- Peak superannuation bodies and the Super Members Council criticized the proposal, with chief executive Misha Schubert warning that 'it is not the job of super funds to solve policy problems.'
- Farrell told The Australian newspaper that Trade Representative Jamieson Greer and Agriculture Secretary Brooke Rollins gave a 'positive' response to the potential support package, despite domestic criticism.
- Australian meat industry groups intend to maintain an orthodox approach to the formal US International Trade Commission investigation, with a public hearing scheduled for November.
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11 Articles
Superannuation sector calls trade minister's pitch to Trump officials 'ill-informed'
Trade Minister Don Farrell asks the Trump administration to consider sparing Australian sheep farmers from future tariffs in exchange for Australian investment in America's lamb industry.
·Ultimo, Australia
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Coverage Details
Total News Sources11
Leaning Left1Leaning Right1Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 16%
Factuality
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