Government proposes funding to support new market export opportunities

11 April 2025

As has been widely reported, United States President Donald Trump recently announced a new round of tariffs to apply to nearly all imports to the United States, including a 10% tariff on Australian exports. Global market instability and moves by many of the United States’ trading partners to introduce retaliatory measures ultimately led President Trump to pause the rollout of the tariffs for 90 days. However, uncertainty remains.  

In the face of these events, Prime Minister Anthony Albanese has announced a five-point plan for responding to the Trump administration’s tariff on Australian imports, to be implemented if the Government is re-elected on 3 May 2025.

As part of the five-part response, Mr Albanese has signalled the creation of a new program to provide financial assistance to affected sectors via the National Reconstruction Fund Corporation (NRFC). Specifically, he said the Government will provide $1 billion in zero interest loans for firms to take advantage of new markets and export opportunities.

The NRFC was established to help diversify and transform Australian industry and the wider economy. It provides debt finance, equity finance and guarantees for early-stage startups, growth-stage companies and mature businesses with compelling proposals in various priority sectors:

• enabling capabilities
• defence capabilities
• transport
• value-add in resources
• value-add in agriculture, forestry and fisheries
• medical science. 

In addition to the new NRFC loans, the current Government has committed to the following:

• Providing funding to peak bodies in sectors likely to be hardest hit by the tariff, such as the National Farmers Federation. 
• Establishing a critical minerals reserve — a stockpile of resources, such as lithium and manganese, which are viewed by the Government as being of strategic importance.
• Prioritising Australian-made products, including through preferential treatment for Australian businesses when bidding for Government contracts. 
• Strengthening anti-dumping laws, to cut down on exporters flooding the Australian market with cheap goods sold at lower prices than their normal values in their own countries. 

Please reach out if you would like to discuss any of the above.