CANBERRA, April 2 (Xinhua) -- The possibility of new tariffs from the United States has become a key issue in Australia's general election, with both prime ministerial candidates promising to take action against trade barriers.

Incumbent PM Anthony Albanese on Wednesday said that his governing Labor Party is "prepared" for any outcome from U.S. President Donald Trump's planned announcement of new tariffs on Wednesday local time in Washington.

"We are certainly prepared tomorrow for whatever outcome is determined, and you'll see that tomorrow," Albanese told reporters on the general election campaign trail in Melbourne on Wednesday morning.

He said that less than 5 percent of Australian exports go to the United States and that efforts to diversify trading relationships with Asian countries would help protect local companies from the impact of any new tariffs.

The Australian Broadcasting Corporation (ABC) reported on Wednesday afternoon that the Labor government is preparing to take the United States to the World Trade Organization (WTO) if Australia is affected by Trump's new tariffs.

Asked about the ABC report on Wednesday afternoon, Albanese refused to rule out taking WTO action.

He told a Sydney radio station that his government's response to any potential tariffs would be "calm and calibrated."

Albanese has repeatedly ruled out imposing reciprocal tariffs on U.S. exports to Australia.

According to the ABC, the government is expecting the United States to impose tariffs of up to 20 percent on all imports from Australia.

Trump's tariffs have become a key issue during the first week of campaigning for Australia's general election, which will be held on May 3.

Peter Dutton, leader of the conservative Coalition and the alternative PM, said on Wednesday that he would stand up against the U.S. administration if he wins the election.

"If I needed to have a fight with Donald Trump or any other world leader to advance our nation's interests, I'd do it in a heartbeat, and I'll put the Americans on notice, and anyone else who seeks to act against our national interest," he told Sky News Australia.

Both leaders on Tuesday ruled out negotiating with the United States on trade grievances over Australia's biosecurity, pharmaceutical and news bargaining laws in exchange for an exemption from tariffs.

Finance Minister Katy Gallagher told reporters in Canberra that Australian officials were still pressing the case to U.S. counterparts for an exemption from future tariffs, but Foreign Affairs Minister Penny Wong told ABC radio that the government was being "realistic" about the chances of an exemption. Enditem

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