Protecting Australia from the “dark shadow” of a US-China trade war will be the first priority for Australia’s re-elected Labor government, Treasurer Jim Chalmers said on Sunday after a resounding election victory for his centre-left party.
Advertisement
Prime Minister Anthony Albanese’s Labor Party appeared likely to expand its majority in parliament to at least 85 seats from 77, the Australian Broadcasting Corp projected, after most polls had suggested it would struggle to keep its slim hold on the 150-seat lower house.
More than two-thirds of votes have been tallied, with counting to resume on Monday.
Echoing an election in Canada less than a week earlier, Australia’s conservative opposition leader, Peter Dutton, lost his seat as voters, who initially focused on cost-of-living pressures, grew increasingly concerned over US President Donald Trump’s sweeping tariffs and other policies.
“This was beyond even our most optimistic expectations,” Chalmers told the ABC a day after the election.
Advertisement
“The immediate focus is on global economic uncertainty, US and China, and what it means for us,” he said.