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AAP
AAP
Kat Wong

Albanese beats drum on economy as trade clouds gather

Vibrant lion dancers welcomed Anthony Albanese to an opening in the heart of Sydney's Chinatown. (Lukas Coch/AAP PHOTOS)

The prime minister is hoping for good luck and prosperity as the cost of living continues to weigh on voters.

Vibrant lion dancers and a vigorous drumbeat welcomed Anthony Albanese to the heart of Chinatown as part of the unveiling of a refurbished Sydney food market.

"The dancing, the culture, the language of all around the world - this will be a centre of it," he told reporters on Wednesday.

"This is about job creation, it's about boosting our economy."

The traditional Chinese performance is often used at business openings to bring fortune while warding off evil spirits.

And in a tight election contest dominated by living costs and concerns about the economic impact of US tariffs, Mr Albanese needs all the luck he can get.

The Australian stock market fell 1.98 per cent in early trade on Wednesday before paring losses by noon, with global markets on eggshells as the US and China continue trading tariff blows.

Mr Albanese said his government had continued to engage with the US administration for an exemption from new tariffs and his treasurer has called a snap meeting on the issue with banking, business and consumer watchdogs.

Fresh off his narrow debate victory on Tuesday, the prime minister and NSW Labor premier Chris Minns continued jabbing at the opposition leader, seizing on a recent policy U-turn over public servants working from home.

"How can we trust this bloke if his policies have got the life-span of warm yoghurt?" Mr Minns said.

"There's a use-by date on everything he says."

Prime Minister Anthony Albanese serves an ice cream at Hay St Market
Prime Minister Anthony Albanese said his government continues engaging with the US for an exemption. (Lukas Coch/AAP PHOTOS)

Mr Albanese also waved around a copy of the coalition's notoriously austere 2014 budget to claim a government under Mr Dutton would echo its cuts, before asserting the previous Liberal government did not follow through on a promised "gas-led recovery".

"These people think that the Australian public are like goldfish and that they don't remember," the prime minister said.

With just weeks until the May 3 poll, the election contest remains tight.

One in five audience members at the debate were undecided, reflecting a broader voter sentiment that is expected to deliver a hung parliament.

The possibility has led crossbenchers to try throw their weight around, such as Greens leader Adam Bandt who has called for a change on property tax breaks.

But Mr Albanese said Labor's objective is to build on its seats and govern in its own right.

"Adam Bandt is trying to make himself relevant, and I don't blame him for that," the prime minister said.

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