Andrew Liveris unveils Donald Trump manufacturing reboot, by Paul Kelly.
The Australian businessman heading Donald Trump’s Manufacturing Council, Andrew Liveris, nominates tax cuts, cheap energy, elimination of red tape, worker reskilling and integrated supply chains as the keys to reviving US manufacturing and jobs. …
Committed to working with Mr Trump on one of his most ambitious pledges, Mr Liveris said his aspiration was to transform the environment for investment decisions in the US. He said he was “absolutely” confident this was achievable and the ramifications would be global. …
Industry policy fashion is changing in the US, and Australia may follow:
Mr Liveris said he remained an optimist about Australia but said the country “had not yet come to realise something that I believe Donald Trump realises very well” — that free markets do not equate with no government intervention.
“That is not the world we’re playing in anymore and hasn’t been for some time,” he said. “Building integrated industrial sectors based on competitive inputs does need sound policy making in partnership with the private sector.
“But to Australia that sounds like picking winners and losers. It’s not. It’s really looking at what are Australia’s natural advantages and asking how can I build industries that add value to that using my talent and workforce. That’s picking sectors, not winners and losers.” …
“Companies in western markets like the US, Australia and the UK are competing against countries because countries have state-owned enterprises that, in essence, are subsidised and incentivised to create jobs. That’s unfair,’’ Mr Liveris said. …
“Monetary policy has not worked really. The only thing that has created any growth at all has been consumption, mostly in the US and a little in China. But the world can’t live on just consumption drivers. So investment decisions are critical. And making investment decisions in a pro-business environmental is critical. …
Asked how important cheap energy prices were to the US industrial revival, Mr Liveris said: “Massive, critical.”
