Federal election 2025 LIVE updates: Fallout continues from Trump’s 10 per cent tariffs on Australian goods; worst trading day on Wall Street since 2020 as $2.4 trillion wiped

Returning to Trade Minister Don Farrell, who was questioned on ABC this morning about the tariffs levelled at Australia’s external territories, including the Heard and McDonald Islands, both of which are uninhabited and have no recorded exports, and Norfolk Island, which was hit with a 29 per cent tariff.

Farrell suggested that the tariffs on Australia’s external territories were an indication of a “rushed process” by the Trump administration, and said he would raise these issues with his American counterparts in negotiations to remove the trade penalties.

“The trade system that America has until yesterday been working on had been built-up since the Second World War. The Americans have been great beneficiaries of that system and there was a series of agreements that were in place with all countries that traded with the United States,” Farrell said.

“In the space of four weeks, the American president has upended that process. So I think it was inevitable that mistakes would be made.”

Norfolk Island residents Jesse Schiller and Rachel Evans found the tariffs more amusing than concerning, noting that there was no manufacturing industry present to be subjected to the new penalties.

They found that if anything, the newfound publicity could generate significant gains for the island’s tourism-based economy.

“It would have been a very different reaction if we actually did have an exporting industry here, but the fact that no one will be negatively affected, if anything we’re going to be getting press in general, is a good thing,” Evans said.

“I feel relieved, you just don’t know, in the current world environment, what end of the stick you’re going to be on.”