Australia's center-left Labor government said managing the fallout from the US-China trade war would be a top priority, after securing an expanded majority in a decisive election victory.

“We need to have the ability, and we will have the ability, to manage that uncertainty,” Treasurer Jim Chalmers told the ABC, describing the trade tensions as a “dark shadow” over the global economy.

Labor leader Anthony Albanese became the first Australian prime minister in two decades to win consecutive terms, after pledging stable, unified governance during a campaign overshadowed by external economic fears.

“The Australian people voted for unity rather than division,” Albanese said while visiting a local cafe in Sydney.

With more than two-thirds of ballots counted, the Australian Broadcasting Corporation projected Labor would secure at least 85 seats in the 150-seat lower house, up from 77.

The conservative opposition, led by Peter Dutton, collapsed despite leading in polls until March.

Dutton lost his own seat, mirroring the fate of Canadian conservatives who also faced voter backlash tied to Trump-inspired rhetoric.

Cost-of-living concerns initially dominated the campaign, but Trump's April 2 tariff announcement rattled markets and spurred voter anxiety over pension funds and economic stability.

Chalmers cited the need for economic resilience as “immediate focus,” referencing growing risks from US unpredictability.

Labor’s comeback was catalyzed when the conservative bloc proposed federal job cuts and mandated five-day office returns, drawing sharp comparisons to Trump-era agency rollbacks.

Former Liberal MP Keith Wolahan acknowledged public sentiment had shifted, saying, “It was clear that our party has an issue in urban Australia.”

Albanese told supporters, “We do not need to beg or borrow or copy from anywhere else,” in a pointed rejection of foreign political influences.

“We find (our inspiration) right here in our values and in our people,” he said to cheers from Labor’s election night crowd.

Jacinta Nampijinpa Price, a Liberal senator whose rhetoric echoed Trump's slogans, accused critics of turning the campaign into “all about Trump.”

Dutton, whose platform included Trump-aligned policies like curbing remote work and creating a ministry of government efficiency, conceded defeat and took “full responsibility.”

Senator James Paterson admitted “the Trump factor” had hurt their campaign, echoing similar electoral consequences in Canada.

Labor officials credited Albanese’s policy focus and measured leadership for the win.

“This is a win for the ages,” said Chalmers, calling the result “absolutely unbelievable.”