Politics live updates: Trump tariff reaction, Albanese’s final policy push before Federal Parliament deadline

Foreign Affairs Minister Penny Wong has welcomed the ceasefire deal between Israel and Hezbollah, saying she hopes it’s a “catalyst for a broader ceasefire in the region”.

“We look forward to the day when there is a ceasefire too in Gaza,” Senator Wong said.

“We’ve been calling for a ceasefire in Gaza for over 11 months now. And we see every week the death toll rising - more children, more women.

“We again join with the overwhelming majority of the international community to urge a ceasefire in Gaza.

“But today we are very pleased to see that there is a ceasefire with Hezbollah and that the people of Lebanon and Israel can know some peace.”

She said Australia would continue to advocate for a ceasefire in Gaza.

Joe Biden reaffirmed the US’ commitment to securing a similar ceasefire deal in Gaza.

“Just as the Lebanese people deserve a future of security and prosperity, so do the people of Gaza,” the President said.

“People of Gaza have been through hell, their world is absolutely shattered.”

Mr Biden said the US would push Türkiye, Egypt, Qatar, Israel and others to achieve a ceasefire in Palestine in the coming days.

The outgoing president called out Palestinian militant group Hamas for refusing to negotiate a good faith ceasefire and said the “only way out” was to release Israeli hostages.

Get the full details of the Israel-Lebanon ceasefire deal here.

US President Joe Biden has confimed the Israeli and Lebanese governments have accepted a US Proposal to end the “devastating” conflict between Hezbollah and Israel.

Speaking form the White House Rose Garden, Mr Biden said the deal would be effective from 4pm Wednesday, local time.

“This is designed to be a permenant cessation of hostilities,” he said.

“What is left of Hezbollah and other terrorist organisations will not be allowed to threaten the security of Israel.”

Over the next 60 days, the Lebanese army and security forces will take control of their own territory as Israel withdraws its remaining forces from the region so that civilians can return to their communities.

Mr Biden said the US, with support of France and its allies, will work with the embattled nations to “make sure this deal is implemented fully and effectively”.

The NSW Government will scrap more than 20,000 fines that were issued during the Covid pandemic, and refund about $5.5 million, after fresh legal advice suggested the notices could be non-compliant with the Fines Act.

More than 60,000 fines were issued for breaching public health orders during the pandemic.

In 2022, Revenue NSW withdrew more than 36,000 fines for similar non-compliance reasons after the NSW Commissioner of Fines Administration found the penalty notices did not sufficiently details the offences committed.

At the time, the NSW government said the remaining 23,539 fines would stand because they had a clearer explanation of the offence and were “formulated differently”.

On Tuesday, the commissioner withdrew those notices because they contained insufficient details.

Commissioner Scott Johnston said Revenue NSW would be “reaching out to all affected customers to support them through the finalisation of their matters”.

However, those who have taken their fines to court (and/or had them finalised through court) will not be eligible, because they have been taken out of the government’s oversight.

Millions of Australians will have hundreds of dollars wiped from their HECS debts after the Government passed laws which change how the loans are indexed each year.

About $3 billion will be wiped from more than three million HECS-HELP loans - translating to a refund of about $1200 for the average $27,000 debt balance.

The refunds will now be automatically processed by the ATO.

The new laws were introduced after Australian HECS holders were hit with a whopping 7.1 per cent annual indexation fee on June 1, 2023 amid soaring inflation.

From June 1 next year HECS loans will be indexed in line with either the Consumer Price Index (CPI) or the Wage Price Index (WPI), whichever is smaller, to ensure rates are not outpaced by wage growth.

The 2023 indexation rates of 7.1 per cent will change to 3.2 per cent, and 2024 rates of 4.7 per cent wil chance to 4 per cent.

Students who paid off their loans after June 1, 2023 will receive a refund to their bank account, as long as they don’t have any other tax debts.

Israel’s Security Cabinet have agreed to a ceasefire deal with Hezbollah.

Prime Minister Benjamin Netanyahu made an address to the nation confirming the deal on Tuesday evening local time, saying his cabinet had agreed to end fighting with the terrorist group in Lebanon.

Details of the deal are yet to be formally released, however it is understood that a 60-day term has been agreed to in a US brokered truce deal to stop fighting in Lebanon.

Get the latest here.

The Albanese Government is in a mad dash to chalk up as many political wins as possible before Parliament breaks for the final time this year - what may be the last time before the federal election.

Debate on Bills will be truncated, politicians will be kept back late, and Senators could be asked to sit an extra day in order to deal with the Government’s legislative logjam.

Even if Parliament does come back for two weeks in February, there’s a feeling of “now or never” this week.

​Read Ellen Ransley’s ful analysis of the mad dash here.​

Officials from the three countries set to be hit with tariffs from day one of Donald Trump’s second term in office have warned the US president-elect against inciting a trade war.

Mr Trump has ​vowed to impose 25 per cent tariffs on all goods entering the US ​from Canada and Mexico from his first day in office, saying they will remain until the countries “solve” the immigration and drug crisis at their borders.

The president-elect also said he will increase existing tariffs on China by 10 per cent, citing the need to prevent drugs from enterting the US.

Chinese officials called the tariffs “irresponsible” and warned that “no-one will win a trade war or a tariff war”.

Mexican President Claudia Sheinbaum railed against the tariffs, which she said would not fix the issue of undocumented immigration. She warned that should Mr Trump go ahead with his plan, Mexico would retaliate with their own tariffs.

Meanwhile, Canadian Prime Minister Justin Trudeau said he called Mr Trump after he revealed his tariff plans and had a “good conversation” about trade and border security, and agreed to keep in touch.

Opposition leader Pierre Poilievre, meanwhile, called the tariffs an “unjustified threat” to Canada.