Australian Parliament Resumes After Labor's Election Win

Trade and Geopolitical Landscape - The Australian government views U S tariffs as self-defeating and economically harmful [2][3] - Australia aims to maintain strong relationships with all key partners, avoiding a zero-sum approach [9][10] - Australia needs to pragmatically separate politics from economics in its trade relationships, which is increasingly difficult due to the weaponization of trade and investment [14] Defense Spending - There is discussion around increasing Australia's defense budget, with a previous goal of 2% of GDP [5] - The broader geopolitical environment necessitates a national conversation in Australia about the need for increased defense spending, considering public preferences for spending on health, education, and social services [6][7] - President Trump has been talking about a desire to see Australia increases defense budget to 35% [4] Australia-China Relations - Prime Minister Albanese's six-day visit to China was viewed positively, signaling resilience in the relationship with Australia's most important trading partner [1][8][9] - Australia must avoid complacency and recognize that the relationship with China is more complex than in previous decades [13] Domestic Policy - The Pharmaceutical Benefits Scheme is not up for reform and will be defended by both sides of Australian politics [3][4]