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Australian PM praises milestone of new world-class airport construction

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The new Western Sydney International Nancy-Bird Walton Airport has hit another major milestone with construction now underway on the world-class passenger terminal

Australian Prime Minister Scott Morrison said today’s announcement marked a significant step in this once-in-a-generation, city-shaping infrastructure project for Western Sydney, and Australia.

“The delivery of the Western Sydney International Airport proves once again our Government’s ability to get things done,” the Prime Minister said.

“We have made this happen. It is already delivering major benefits for Western Sydney, as we knew it would, and it only gets better from here.

The Prime Minister stated that the Coalition will continue to invest in job-creating infrastructure that drives investment and secures Australia’s economic recovery.

“Our total $14 billion investment in the airport and transport links is transforming this powerhouse region, attracting investment and supporting jobs for generations to come.”

Morrison stated that around 11,000 jobs will be supported during construction of the airport alone, and currently around one in two workers are from Western Sydney, “driving income and opportunity for families across the region.”

“Tens of thousands more jobs will be created when the airport is up and running in 2026, and millions of travellers are arriving into Sydney’s newest airport every year.

“The airport will also play a crucial role in the nation’s aviation future, delivering dynamic global connections for the region and opening up even further possibilities for new routes and services.”

Minister for Communications, Urban Infrastructure, Cities and the Arts Paul Fletcher says construction on one of the most significant infrastructure projects in Australia was now around one quarter complete.

“Despite the challenges of the global pandemic, work has continued to progress with nearly 22 million cubic metres of earth now moved to date across the site – which is about three times bigger than the Sydney CBD – and the airport on track to open in late 2026,” Minister Fletcher said.

Western Sydney Airport / Image: Supplied

The terminal will have the capacity to handle up to 10 million passengers each year.

“With this unique opportunity to build an airport from the ground up, we are able to roll out cutting-edge technology to make the passenger experience smoother and easier than at existing airports, and the security systems more effective but less intrusive.

“The new airport will not only be a state-of-the art piece of infrastructure but is an integral element of the surrounding aerotropolis and the broader Western Parkland city.

“In its own right, Western Sydney would be Australia’s fourth largest city and third largest economy, which is why the Morrison Government has committed $14 billion to the airport and vital metro rail and road links that will transform the region.” 

Minister for Finance Simon Birmingham said construction of Western Sydney International’s world-leading innovative domestic and international airport had fastened its seatbelt and was ready for take-off.

“One of Australia’s largest infrastructure projects is now visibly taking shape and is delivering long-term jobs and economic benefits to Western Sydney,” Minister Birmingham said.

Western Sydney Airport / Image: Supplied

“Economic stimulus and job creation in Western Sydney is critical right now. Start of construction on the world-class terminal will see more jobs begin to flow in the coming months.

“Acting to build a second Sydney airport has been in the too hard basket for many years but our government is delivering this critical piece of infrastructure that will lift productivity and growth for decades to come.”

Federal Member for Lindsay, Melissa McIntosh welcomed the airport exceeding its local employment targets, saying the project would continue to create local jobs, for local people.

“Over $100 million has already been injected into businesses in Western Sydney, supercharging our local economy,” Ms McIntosh said.

“The airport will continue to provide more opportunities for local small businesses, opening up new markets and opportunities across Australia and beyond.

“This will drive more job creation for generations, particularly in the emerging industries recognising Western Sydney is at the forefront of fields including advanced manufacturing, research, and space, as a result of the Morrison Government’s investment.”

NSW Premier Perrottet / Image: Supplied

New South Wales Premier Dominic Perrottet said the airport would boost economic activity and provide employment opportunities for the Western Sydney region.

“This new airport integrates with our vision for Western Sydney and the future of how people will live, work and travel,” Mr Perrottet said.

“It means jobs for Western Sydney and will create new, convenient travel options for those who live in our west.”

The contract for the airside pavements package, which will include the 3.7-kilometre runway and rapid-exit taxiways, was awarded in September, with construction due to begin next year.

Bulk earthworks are around 75 per cent complete

In addition to the $5.3 billion investment in Western Sydney International, the Morrison Government has committed another $9 billion for the vital rail and road links that will transform the Western Sydney region.

This includes the $3.5 billion investment to deliver new major road infrastructure and upgrades under the Western Sydney Infrastructure Plan and $5.25 billion towards the first stage of the Sydney Metro – Western Sydney Airport rail link.

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Trump’s tariffs disrupt Australia’s trade, impacting economy

Donald Trump’s trade tariffs could negatively disrupt Australia’s economy, impacting exports like beef and canola oil amid global trade tensions.

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Donald Trump’s trade tariffs could negatively disrupt Australia’s economy, impacting exports like beef and canola oil amid global trade tensions.

In Short

Trump’s trade tariffs threaten Australian exports, notably canola oil and beef, with China’s retaliatory export curbs exacerbating the situation.

A full trade war could drastically impact Australia’s iron ore industry and currency stability, complicating its trade relations amidst rising global competition.

Donald Trump’s new trade tariffs could have adverse effects on Australian exports, including canola oil, beef, and critical minerals.

China has implemented retaliatory export curbs on metals essential for technology, raising concerns as China controls much of the global supply. While the US may seek alternatives in countries like Australia for strategic minerals, tensions with Canada complicate this shift.

However, a full-scale trade war would negatively impact Australia’s largest commodity export, iron ore. A weakening Chinese economy could reduce demand for steel-making materials, harming Australia’s trade interests. Trump’s potential expansion of tariffs on aluminium and steel poses additional risks to local manufacturers amid fears of cheap imports undermining the market.

The beef industry could also face disruption. As the US cattle herd declines, tariffs might disrupt Australian beef exports, leading to price hikes. Conversely, Canada could increase canola exports to non-US markets, intensifying competition for Australian oilseed farmers.

Furthermore, the recent tariff announcements have caused fluctuations in the Australian dollar, which hit low levels against the US dollar initially. Subsequent relief for Canada and Mexico caused a brief recovery, yet ongoing tariff disputes could negatively impact the currency’s stability.

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Trump’s tariffs raise prices on Chinese imports

Trump’s new 10% tariff on Chinese imports could raise prices for electronics, clothing, cars, and home appliances in the US.

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Trump’s new 10% tariff on Chinese imports could raise prices for electronics, clothing, cars, and home appliances in the US.

In Short

President Trump has imposed a 10% tariff on imports from China, potentially increasing costs for US consumers on electronics, clothing, cars, and appliances. The National Retail Federation urges negotiations to mitigate price hikes while analysts predict significant increases in product prices.

President Donald Trump has implemented an additional 10% tariff on imports from China, which could potentially rise further.

This move is likely to result in higher prices for various goods in the US, particularly consumer electronics, clothing and textiles, cars, and home appliances.

In 2023, the US imported $427 billion worth of goods from China. Notably, consumer electronics sales included substantial imports of cellphones and laptops. The Consumer Technology Association estimates that tariffs could raise laptop prices by up to 68%, video game consoles by 58%, and smartphones by 37%.

In clothing and textiles, imports amounted to $19.6 billion in 2023. Retailers may increase prices of apparel and accessories due to these tariffs.

Cars are affected as well, with US imports of car parts valued at $14.6 billion. Analysts suggest that domestic automakers sourcing parts from China may be compelled to raise prices.

Home appliances also face price increases. The National Retail Federation projected that the average price of a basic fridge could rise from $650 to $776.

The NRF has urged all parties to negotiate solutions to strengthen trade relations and avoid passing costs on to American consumers.

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Cryptocurrency drops amid Trump’s trade war concerns

“Cryptocurrency Prices Plunge Amid Market Uncertainty from Trump’s Trade War Impact”

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“Cryptocurrency Prices Plunge Amid Market Uncertainty from Trump’s Trade War Impact”

Cryptocurrency markets have experienced a significant downturn amid concerns over ongoing trade tensions.

The fluctuations in value seem closely tied to Donald Trump’s trade policies.

Investors are reacting to uncertainty surrounding international trade agreements.

Bitcoin and other cryptocurrencies have seen sharp declines in recent days.

Analysts suggest that the instability in traditional markets is influencing investor sentiment in cryptocurrencies.

This latest slide raises questions about the resilience of digital currencies in volatile economic environments.

Market observers are monitoring the situation closely for further developments.

Traders are advised to exercise caution given the risk associated with current market conditions.

Potential impacts on the broader economy could also influence the cryptocurrency landscape.

Overall, the situation reflects growing anxiety among investors regarding future market stability.

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