This week in Australian foreign affairs: Frydenberg and Tehan host the inaugural Indonesia-Australia Economic, Trade and Investment Ministers’ Meeting; the Australia-Vietnam Enhanced Economic Engagement Grant; a bilateral Technology Safeguards Agreement with the United States; and more.
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Australia has under-performed peer economies in attracting US investment since the passage of Trump’s Tax Cuts and Jobs Act in 2017. President Biden’s proposed tax changes will improve Australia’s attractiveness on a relative basis, but will likely weigh on US corporate investment globally.