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Australia stands United: Albanese and Dutton form bipartisan shield against US tariff threat to PBS

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Australia stands United: Albanese and Dutton form bipartisan shield against US tariff threat to PBS

Miko Santos

Mar 20, 2025

Transcript

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In a rare show of bipartisan unity, Australia's major political parties have taken a firm stance against U.S. pharmaceutical pressure on the PBS, while Opposition Leader Peter Dutton outlined his foreign policy vision at the Lowy Institute, and economic data revealed shifting workforce demographics despite stable unemployment figures.

Labor and Coalition Unite to Defend PBS Against U.S. Pressure

Prime Minister Anthony Albanese and Opposition Leader Peter Dutton have presented a united front against a U.S. drug company campaign targeting Australia's Pharmaceutical Benefits Scheme (PBS), vowing the medicines subsidy program will never become a bargaining chip in ongoing trade discussions with the United States.

The powerful pharmaceutical lobby in the United States, PhRMA, has urged President Donald Trump to impose tariffs on Australian pharmaceutical imports as a "reciprocal" measure, claiming the PBS subsidies are "egregious and discriminatory" trade instruments.

"What we're going to do is continue to advocate for Australia's national interests, not the interests of big pharma," Prime Minister Albanese said Thursday morning, declaring the PBS "not for sale."

Speaking at the Lowy Institute, Opposition Leader Peter Dutton echoed this sentiment, describing the PBS as "the envy of the world" and pledging to "fight against any big drug company imposing tariffs."

In a clear signal that neither party will compromise on the PBS, Albanese promised an additional $690 million over four years to lower the price of PBS-listed medications from $31.60 to $25, a proposal the Coalition has committed to match.

Health Minister Mark Butler noted this isn't the first time pharmaceutical giants have targeted the PBS, recalling similar lobbying during Australia's free trade negotiations with the U.S. two decades ago. Butler indicated Australia would seek an exemption if tariffs were imposed, highlighting that America currently enjoys a trade surplus with Australia on pharmaceuticals, with Australia selling about $2 billion worth to the U.S. while purchasing approximately $3.5 billion.

Dutton Outlines Foreign Policy Vision in Comprehensive Lowy Address

Opposition Leader Peter Dutton delivered a comprehensive foreign policy address at the Lowy Institute in Sydney today, outlining his diplomatic and defense priorities should the Coalition win the upcoming federal election.

In his speech, Dutton committed to a robust free-trade agenda, promising to "reinvigorate negotiating a high-quality Free Trade Agreement with the European Union that's stalled under Labor." He also pledged to revitalize trade discussions with Israel and expand opportunities with Canada and other like-minded countries.

On defense matters, Dutton called for increased investment in Australia's military capabilities, criticizing the Albanese government's defense spending as inadequate despite describing current times as "the most precarious since the Second World War."

"We need to develop our defence capabilities at speed and scale so we can become a more credible partner to contribute to the objectives of deterrence and peace," Dutton stated. "Most importantly, we need to become a more self-reliant and resilient country."

The Opposition Leader also outlined his approach to key international relationships, including with China, the United States, and Pacific nations. Dutton claimed Australia is "paying the price for Labor's ill-disciplined and disparaging remarks about President Trump," citing difficulties in securing high-level discussions regarding recent tariffs.

"I will seek to meet President Trump in Washington in the early days of a Dutton Coalition Government," he said, emphasizing his ability to "work with the Trump Administration Mark II to get better outcomes for Australians."

Australia's Unemployment Holds Steady Despite Shifting Workforce Demographics

Australia's unemployment rate remained stable at 4.1% in February despite a decrease of 53,000 employed people, indicating complex demographic shifts in the workforce rather than broad economic weakness.

The Australian Bureau of Statistics data shows employment figures declining monthly, primarily driven by fewer older workers returning to the workforce, while maintaining solid year-over-year growth at 1.9%. The employment-to-population ratio slightly decreased to 64.1%, remaining close to historical highs.

A notable trend is the decline in older worker participation, while employment for those aged 15-54 continues to grow. Though the participation rate dropped to 66.8%, it remains historically high and exceeds last year's level.

The underutilization rate—combining unemployment and underemployment—fell to 9.9%, significantly below pre-pandemic levels, indicating fewer Australians face challenges finding sufficient work hours compared to historical norms.

These workforce composition changes could present challenges for industries reliant on experienced workers while creating opportunities for younger demographics entering or advancing in their careers.

Australia Drops Out of Top 10 Happiest Countries in Global Rankings

Australia has slipped out of the top 10 in the latest World Happiness Report, now ranking 11th globally. New Zealand follows closely behind at 12th place, with both countries lagging behind Israel, Mexico, and several Nordic nations.

Finland retained its title as the world's happiest country for the eighth consecutive year, followed by Denmark, Iceland, Sweden, and the Netherlands. Costa Rica and Mexico entered the top 10 for the first time, ranking 6th and 10th respectively.

The annual report, based on data collected from 2022-2024, uses the Cantril Ladder assessment, asking more than 100,000 people across 140 countries to rate their lives on a scale of 0 to 10.

Researchers found that sharing meals with others, having reliable social support, and household size are key factors for happiness. The report also highlighted that belief in the kindness of others is more closely tied to happiness than previously thought.

The United States dropped to its lowest-ever position at 24th, while the United Kingdom ranked 23rd. Afghanistan remains the unhappiest country in the world, with Sierra Leone and Lebanon following as the second and third unhappiest nations.

Rising Tide Protesters Disrupt Opposition Press Conferences Over Nuclear Policy

Environmental activist group Rising Tide disrupted two major Opposition press conferences in Sydney today, challenging Shadow Treasurer Angus Taylor and Opposition Leader Peter Dutton on the Coalition's nuclear energy policy.

During Taylor's press conference, activist Shaun Murray questioned why taxpayers should fund nuclear power "when it's going to drive up energy prices." Another protester, Zack Schofield, pointed to internal party division, citing the recent launch of "Liberals Against Nuclear."

Schofield, who interrupted both events, claimed the Coalition's nuclear scheme would cost $600 billion to taxpayers, add up to $1,200 to people's energy bills, and produce 1.6 billion tonnes of climate pollution by 2050.

"The reality is that the Coalition has no climate plan. Their nuclear plan clearly doesn't stack up, they have not supported a single piece of climate legislation this term of government, and they have no 2035 emission reduction target," Schofield said.

The protests come as communities recover from ex-tropical cyclone Alfred, which Rising Tide linked to the ongoing climate crisis.

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