The Australian Chamber of Commerce and Industry reports the US has now overtaken China as Australia’s primary trading partner.
Its National Trade Survey has found that Australian traders are shifting away from China because of geopolitical tensions and the need for market diversification.
The results coincide with Prime Minister Anthony Albanese’s visit to the US for talks with President Joe Biden.
“What we’ve seen is clear evidence that more businesses are looking to diversify … and one of the big established markets that we have is the United States,” Australian Chamber of Commerce and Industry CEO Andrew McKellar said.
“We’re seeing some new opportunities there with AUKUS and things like energy transformation – those sorts of opportunities can’t be ignored.”
