In his rambling address in the White House Rose Garden, Trump claimed Australian beef imports to the US would be banned from midnight.

'Australia bans — and they're wonderful people, and they have wonderful everything — but they ban American beef,' Trump said.

'Yet we imported (US)$3billion of Australian beef from them just last year alone.

'They won't take any of our beef. They don't want it because they don't want it to affect their farmers and, you know, I don't blame them.

'But we're doing the same thing right now starting at midnight tonight, I would say.'

But Daily Mail Australia can confirm that the Albanese government has since had assurances from the US Treasury that no ban will come into force.

Australian beef will be subject to the same 10 per cent tariff as other Australian goods.

The Prime Minister has slammed Trump's tariffs, branding them 'totally unwarranted'.

'For Australia, these tariffs are not unexpected, but let me be clear - they are totally unwarranted,' Mr Albanese told reporters on Thursday morning.

'President Trump referred to reciprocal tariffs. A reciprocal tariff would be zero, not 10 per cent.

'The administration's tariffs have no basis in logic and they go against the bases of our two nation's partnership.

'This is not the act of a friend.'

Mr Albanese said that tariffs would 'push up costs for American households'.

'It is the American people who will pay the biggest price for these unjustified tariffs,' he said.

'This is why our government will not be seeking to impose reciprocal tariffs. We will not join a race to the bottom that leads to higher prices and slower growth. We will stand up for Australia.'

Mr Albanese said that he would 'continue to make the strongest case for these unjustified tariffs to be removed from our exporters'.

The Australian Electoral Commission has found Abbie Chatfield did not breach electoral laws in social media posts involing Anthony Albanese and Greens leader Adam Bandt (pictured with Ms Chatfield below).

Both leaders appeared on the influencer's podcast, It's A Lot, in recent weeks.

Mr Albanese shared three clips from his appearnace, while Mr Bandt, who Ms Chatfield also performed a DJ set with, shared four.

Any political content is legally required to carry an authorisation note.

But an AEC spokesperson said the commission’s review had concluded that 'based on the facts as we currently understand them, the AEC found that this communication does not require an authorisation statement'.

Mexico, Canada, and Russia were left off of the long list of tariff proposals that the president displayed at the White House.

Read belwo to find out why:

The Opposition Leader hinted that the government could leverage the defence relationship to exert pressure on the White House to secure a carve-out from the tariffs.

'There is a critical relationship between the United States and the United Kingdom in terms of our defence compact,' Mr Dutton said.

'We have (US) troops in the north of our country. We have the AUKUS deal. We have ANZUS treaty. It is a long and abiding relationship and the core of an arrangement between us and the United States in resolving this matter will centre around the defence relationship.'

Opposition Leader Peter Dutton has accused Trump of not treating Australia with 'respect'.

'I think this is a bad day for our country and it's not the treatment that Australians deserve, because we have a very trusted, long-standing and abiding relationship with the United States,' he told reporters in WA.

He added: 'We have a special relationship with the United States and it hasn't been treated with respect by the Administration or by the President.'

Mr Dutton said that he had spoken to three major Aussie beef producers on Thursday morning.

He added that the 10 per cent tariff on Aussie beef would actually harm US consumers, who rely on beef imports.

The Coalition leader savaged the work done by Anthony Albanese and Trade Minister Don Farrell to try to secure a carve-out for Australia.

‘Don Farrell has not achieved anything. That is obvious,’ he said.

‘Neither has Anthony Albanese. This is the problem for the country.’

Financial markets are now widely expecting a May interest rate cut as a result of Donald Trump's broad-based tariffs.

Read more below: