Australia's trade surplus hits nine-year low amid EV demand surge
Australia's trade surplus has fallen to a nine-year low of $1.1 billion in the June quarter, driven by a surge in imports related to electric vehicle demand and fuel diplomacy efforts. Deputy Prime Minister Richard Marles reaffirmed the government's commitment to passing gambling reforms despite opposition, emphasizing the need to balance protections for consumers with maintaining betting freedoms. The government is also engaging in diplomatic negotiations with Tonga and Solomon Islands while promoting regional stability in the Pacific.
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Australia news live: Surge in EV demand and fuel diplomacy push send trade surplus to nine-year low
Australia's trade surplus has fallen to a nine-year low of $1.1 billion in the June quarter, driven by a surge in imports related to electric vehicle demand and fuel diplomacy efforts. Deputy Prime Minister Richard Marles reaffirmed the government's commitment to passing gambling reforms despite opposition, emphasizing the need to balance protections for consumers with maintaining betting freedoms. The government is also engaging in diplomatic negotiations with Tonga and Solomon Islands while promoting regional stability in the Pacific.
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