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Trump’s mindset on tariffs, according to former US Ambassador Joe Hockey

Jon Condon 08/04/2025

Former Treasurer Joe Hockey address the Meat Processing & Export Conference this morning

 

HAVING spent time with him on the golf course and around the White House, former Federal Treasurer and US Ambassador Joe Hockey gave a personal insight into the mind of US President Donald Trump during a presentation to an Australian beef industry audience this morning.

Today’s Meat Processing & Export Conference on the Gold Coast is being attended by about 400 industry stakeholders from across Australia and overseas.

Front and centre in discussions was Trump’s tariffs announced on Thursday, and the implications for Australian and world beef trade. The fact that today’s gathering was postponed by four weeks due to Cyclone Alfred has provided an unforeseen benefit, in that it comes just five days after Trump’s tariff announcements.

Mr Hockey gave a broad-ranging and at times blunt assessment about the tariff developments, the way Trump thinks, and what possibly lies ahead.

“It still astounds me that people haven’t listened to Trump’s tariff mantra that’s he’s been projecting for years. He has been entirely consistent in his views about tariffs at least since an interview with Oprah Winfrey back in 1981 – so why are we surprised at what’s happenbed this past week,” Mr Hockey asked.

“He sees tariffs as the solution, but the first time around (2016 election) he opposed tariffs on various countries, because in his view, his own team ‘let him down’.”

“This time, he is much better prepared, and he sees tariffs as the solution to America’s economic woes.”

Part of the 400-strong attendance at the MP&E conference on the Gold Coast this morning

Mr Hockey said the typical ‘swing voter’ in the US was a ‘Mary Milwaukee’, 43 years of age, a church-goer twice a week, gun owner, whose husband was one of two million truck drivers in the US, and she works at Walmart at a reasonably senior level for US$15/hour. He oldest son did two tours of duty in Afghanistan and she dreams of her daughter going to College one day – but she knows she can never afford it.

“She’s pretty traditional, and every night she turns on the TV and political commentators are laughing at her and what she believes in. She feels small and insignificant, and along comes Donald Trump,” Mr Hockey said.

“She does not particularly like Trump, but for the first time someone says, ‘I not only hear you, but I’m going to fight for you, because I’m going to break down all of those things that laugh at you and take away the hopes that you have. I’m going to get you a pay rise, and make sure that your husband still has a job; stop the illegal immigrants having an impact in your community, and stand up for you and what you believe in. And you know what, I’ve got the power and the money to be able to do that’.”

Mr Hockey made the point that more white women in the US voted for Trump over Biden, Hillary Clinton or Karmala Harris.

“He has advocated consistently for tariffs for decades, but he just can’t get it in his head that a tariff is a tax on consumers,” he said.

So what is the best move for Australia, and the Australian red meat industry at this point?

Two days before last week’s tariff announcement, Trump had listed US ‘trade irritants’, including pharmaceuticals, beef and new coal, Mr Hockey said.

“But the starting point with Trump is to have a relationship. With anyone you want to negotiate with, you start with a relationship. Frankly, Prime Minister Anthony Albanese was intimidated into not wanting to directly engage with Trump (the candidate), and as a result there’s no foundation to a relationship today. Other leaders have that relationship.”

“I’d now be surprised if Donald Trump takes a call from Prime Minister Albanese, any time before the upcoming Australian election. He (Trump) will engage after the election, I’m sure.”

“But I know what Trump is doing: He’s applying it (tariffs) to everyone, and, as well as wanting the revenue, he’s using it as a weapon.”

“But Donald Trump plays checkers, not chess. He doesn’t think three steps ahead.”

 

  • More on Joe Hockey’s AMIC conference address, plus others,  tomorrow.

 

 

 

 

 

 

 

 

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Comments

  1. Chris Davis, 10/04/2025

    Excellent assessment Joe Hockey but we need to be mindful that Trumps only tool at his disposal that the Courts can’t block (like most of his recent executive orders) is Tariffs. The US Courts will rue the day they started blocking him. This isn’t over yet despite todays jump in the share market.

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