Australian Prime Minister Anthony Albanese has weighed in on the US midterm results, calling them "very significant" and a key topic of discussion at the Commonwealth Heads of Government Meeting (CHOGM) in the Caribbean. He linked the Republican Party's drubbing to the Iran war and tariffs, which he said continue to hurt Australia's economy. Albanese emphasized that global leaders at CHOGM want the war to end and the Strait of Hormuz to reopen, as inflation and trade settings are major concerns.
Albanese said he would continue to push for de-escalation in the Iran war but would not change his diplomatic approach with US President Donald Trump. "I have said it publicly and directly [to Mr Trump] that it's time for there to be a de-escalation," he stated. He acknowledged differing perspectives with Trump but committed to working constructively with the US president. Other Labor ministers, however, were more direct in their critiques, with Trade Minister Don Farrell stating that Americans and Australians alike dislike tariffs.
Back in Australia, Albanese faced questions about the Reserve Bank's latest rate hike, which brought the cash rate to an 18-year high. He insisted that this would not alter the government's approach to its mid-year budget update, reaffirming a commitment to a "savings package." Opposition Leader Angus Taylor accused the prime minister of being "in denial" about the economy, arguing that government spending is a key driver of inflation.
Albanese also defended his attendance at CHOGM, describing it as "worthwhile" despite returning without any announceable outcomes. He highlighted discussions with Canadian Prime Minister Mark Carney and UK Prime Minister Andry Burnham about global AI regulation and potential changes to the UK free-trade agreement, particularly regarding backpacker work conditions in regional areas.