“While we remain in the best possible position under the United States’ new tariff regime, we will continue to advocate for the removal of all tariffs in line with our free trade agreement,” a spokesman for Farrell said in a statement.

Trump signed an executive order on Thursday imposing reciprocal tariffs ranging from 10% to 41% on dozens of countries.

Australia is one of the few countries with which the US normally runs a trade surplus, a point often pitched by Australian officials during trade talks with US officials.

The US trade surplus with Australia was US$17.9 billion in 2024, a 1.6% increase over 2023, data from the US trade representative’s office showed.

Australia last week eased restrictions on beef imports from the US, potentially smoothing trade talks with Trump, although prime minister Anthony Albanese said the decision had long been considered and was not related to any trade negotiations.

US tariffs for neighbouring New Zealand were raised to 15% from the baseline 10% announced in April.

“The first step will be to talk to them directly. And we’ve engaged in a lot. In fact, it’s been very good engagement,” New Zealand trade minister Todd McClay told Radio New Zealand.