Australia's Prime Minister Anthony Albanese has declared victory in the general election on Saturday. Local media report that the Labor Party has clinched a historic victory.

The Australian Broadcasting Corporation reports that as of 2 a.m. Sunday, local time, Labor had secured a majority of 85 out of 150 seats in the House of Representatives.

ABC says the opposition conservative alliance, led by the Liberal Party, is set to take 41 seats, and independents 10 seats.

Prime Minister Albanese told supporters on Saturday night that in this time of uncertainty, "Australians have chosen to face global challenges the Australian way, looking after each other while building for the future."

Frustration is growing among Australians over US tariffs announced unilaterally by President Donald Trump.

Local media say such sentiment cost voter support for the opposition coalition, whose calls for government efficiency and job cuts resemble Trump's policies.

Albanese sought to distinguish his party from the opposition saying, "We do not need to beg or borrow or copy from anywhere else."

However, with critics claiming he's too weak against Trump, the prime minister's handling of US tariffs and other challenges will now be the focus of attention.