Anthony Albanese warns ‘ever-expanding free trade is gone’, calls for ‘patriotism’ amid global supply chaos

Anthony Albanese has warned the “world of ever-expanding free trade is gone” as the Iran war smashes supply chains. Despite the grim warning, Mr Albanese pleaded with the mining industry at the Minerals Industry Dinner on Monday night to step up as Australia faces unprecedented challenges after Iran effectively closed the Strait of Hormuz following the United States’ and Israel’s February 28 surprise attack. Mr Albanese said the latest trade challenges differed from trade barriers or “sanctions tied to strategic competition”, in veiled swipes at both the United States and China. “It goes deeper than that,” he said. “This is about ongoing threats to the safety of global shipping routes, and the physical destruction of oil and gas infrastructure across the Middle East. “So, even if we were to wake up tomorrow to the welcome news that this conflict was over, there would still be a long economic tail to reckon with. “All of this underlines a simple reality. The stable, predictable world of ever-expanding free trade is gone – and it will not be returning any time soon.” More than any other industry, the minerals workforce helped build the old world order, Mr Albanese said. “You broke down old trade barriers and built new economic bridges, because what you offered was the best in the world,” he said. “In a more volatile world, these strengths are worth more … We can work together to shape the future, not wait for the future to shape us.” Speaking in the presence of International Energy Agency Executive Director Dr Fatih Birol, Mr Albanese touted Australia’s reserve of critical minerals – set to be, he said, a key point of discussion as the Prime Minister meets with European Union President Ursula von der Leyen on Tuesday. “At a time when the world wants what Australia has – all of us have a responsibility to ensure that our natural resources continue to deliver a national benefit, true to our national values,” he said. Mr Albanese continued: “Over the years, I acknowledge that from time to time we’ve had our differences on policy, just as the companies in this room are not always on the same page as each other. “And because we do not have to agree on every aspect of every issue to build a constructive relationship, in the national interest. “That’s what matters – especially right now. In uncertain times, Australians expect all of us to put the national interest first, to put our country first.” ‘Progressive patriotism’ While the government worked through “every practical step” to protect Australians from fuel shock, including releasing reserves and appointing a single nationwide taskforce, ordinary Australians were also being called upon, Mr Albanese said. “Putting our faith in the practicality – and patriotism – of Australians,” Mr Albanese said. “Expecting people to do the right thing by each other – and businesses to do the right thing by Australia. “Because that is the orderly, constructive way we operate as a government. “And, because the best way to deal with global uncertainty, is to mobilise all our national strengths.” The IEA last week recommended consumers reduce fuel consumption through a raft of measures, including carpooling, working from home, and limiting air travel. Dr Birol on Monday told the National Press Club it would be up to governments to enforce those measures.