With both Presidential candidates—Donald Trump and Kamala Harris—indicating a departure from traditional trade liberalisation policies, the report, Navigating Uncertainty: What the United States Election Means for Australia's Grain Industry addresses concerns about increasing trade protectionism and geopolitical tensions.
While the United States represents a relatively small market for Australian grain exports, as the world's largest economy, its trade policies directly influence global trade dynamics. The report underscores the importance of maintaining an open and rules-based trading system for Australia’s export-oriented grain industry, which relies heavily on global markets. Despite differing political philosophies, both candidates signal a move towards protectionist policies that could exacerbate US-China tensions, intensify trends toward friend-shoring, and further fragment the rules-based global trading order.
In response to rising trade risks, GrainGrowers is calling on the Australian Government to take proactive measures, particularly by diversifying trade partnerships and deepening engagement with Southeast Asia. As the report highlights, Southeast Asia is a vital region for Australian grain exports and presents significant growth opportunities.
GrainGrowers CEO Shona Gawel said a proactive approach was essential to safeguard Australia’s grain industry against future global trade disruptions.
"We need sustained investment in trade diversification programs and stronger partnerships with Southeast Asia to ensure our industry’s resilience in the face of rising global uncertainty."
The 11-page report includes:
- Key risks for the Australian grain industry including:
- friend-shoring
- Fragmentation of the World Trade Organisation and the rules-based order
- Increased trade protectionism
- How Australia can prepare
- Trade diversification
- Increased engagement with Southeast Asia
Download the full report to know more!
Excerpt from the report
