NO 'TRADE WAR' WITH THE U.S. - MCMULLAN

The Minister for Trade, Senator Bob McMullan, today dismissed media reports that the review of Australia/U.S. trade relations that he announced yesterday was in any way indicative of increasing trade tensions with the U.S. or retaliation over the recent extension of U.S. dairy subsidies into Asian markets.

"As I said yesterday, the principal purpose of the review is to look at Australia's trade performance in the U.S.," Senator McMullan said.

"After all, the U.S. is our second largest trading partner, but the fact is Australian exports to the U.S. are declining.

"It is obviously in our own interests to identify the reasons for this, and ask ourselves the question 'can we do better?'"

"If the answer is 'yes', how do we go about it?"

Attached for information are transcripts of interviews which place the exercise in proper perspective.

Further information: John Flannery, 018 482 887, (06) 288 0371

Brendan Sheehan, 018 482 780, (06) 227 5752