Horse-trading Australian trade policy for the Australian Building and Construction Commission legislation will damage Australia’s economy and put exports at risk.
Australian Institute of Company Directors Managing Director & CEO, John Brogden, said suggested amendments requiring the purchase of Australian steel could see other countries retaliate with similar polices at the expense of Australian agricultural, mining and services exports.
“Australia’s fortunes are tied to a large extent on global trade. If we turn inwards, our economy will suffer and jobs will be lost,” he said. “The message these proposed amendments send is that we won’t buy goods from other countries.
“If we stop buying steel from other countries, they will stop buying products and services from us.
“If that’s the message Australia is going to send to the world, then why should other countries buy goods from us?”
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