Trade chaos won’t settle anytime soon
Trade chaos won’t settle anytime soon
THE world is transitioning from the old orderly trade system to a new and far more chaotic
That’s according to international trade expert and media commentator Stephen Olson.
Mr Olson, who has 30 years of experience in trade negotiation and economic policy – including roles as a US trade negotiator in the North American Free Trade agreement – outlined the difference between the trade “old world” and “new world” at the Meat Processing and Export Conference (MPEC).
He warned businesses that trade chaos won’t settle anytime soon.
“From Trump’s perspective, chaos is important,” he said.
“(He) believes that if everybody else in the world is running around with their hair set on fire, they will be at a disadvantage and that’s what he wants.”
Examples of the change from the “old world” to the ‘new world” included “trade insulated from geopolitical rivalries” to trade intertwined with geopolitical rivalries” as well as a move from a “spirit of cooperation and common endeavour” to an “increasing sense of ‘what’s in it for me’?”
Changes to global trade and the way Australia can navigate volatility has underpinned discussions at Australia’s premier red meat conference, hosted by the Australian Meat Industry Council (AMIC).
AMIC Chief Executive Tim Ryan said Australian red meat markets are dynamic, with the nation’s high quality produce in demand across the world.
“In collaboration with industry stakeholders and the Australian government, AMIC is actively addressing these tariff challenges and exploring opportunities to support the meat industry,” he said. “The council remains dedicated to diversifying and maintaining access to over 100 international markets, ensuring the continued global demand for Australia’s high-quality meat products is met.”
“The message from this morning is that the global trading system our industry has thrived within has fundamentally changed, and we need to think strategically about how we continue to trade in a far risker world.”
-ENDS-
MEDIA CONTACT:
Jemma Harper
General Manager, Corporate Affairs, Australian Meat Industry Council
0429 040 128 / jharper@amic.org.au
