The moral gee-up came as he prepares to meet President Barack Obama in Washington this week in talks expected to cover defence, security and economic and environmental issues - including potentially their differing views on the need for a co-ordinated response to climate change.

Mr Abbott believes the answer to global warming is for countries to do what is best for them, arguing there is no point ''clobbering'' the economy. Mr Obama has stepped up his response promising a 30 per cent cut in coal-fired emissions by 2030 in the US and proposing to use US leadership to secure co-ordinated global action.

In direct contradiction of Mr Abbott's position, Mr Obama recently declared that if there was one thing he could do to curb global warming, it would be to put a price on carbon and then let polluters figure out a way to reduce their costs.

But there is more than climate change on this week's agenda.

Speaking to an American Australian Association luncheon in Manhattan on Tuesday, Mr Abbott flagged using Australia's presidency of G20 this year to push for tougher co-ordinated global tax laws to stop companies shifting profits to low-tax jurisdictions while they book their costs in higher-tax countries such as Australia.

Hammering his now familiar ''open for business'' theme, Mr Abbott explained the economic and philosophical underpinnings of his recent budget, admitting it had made the government even more unpopular before offering the largely political justification that it was ''better to be tough in your first budget than in your last''.

''There's been a political cost, of course, but we have refused to put short-term popularity ahead of long-term respect,'' he said.

In a message to multinational companies such as the digital technology giants of the computer age, most of which started in the US, Mr Abbott said it was time they paid their share of taxation.

''We need global tax rules to ensure that businesses pay tax in the countries where they earn revenue, and we need financial system and energy system governance that better reflects the changing balance of economic power.''

Mr Abbott told the gathering of powerful entrepreneurs that America's short- and medium-term economic outlook was positive with the economy retooling for a manufacturing revival and a future secured by the fact that America remains ''the world's greatest source of ideas''.

''Yes, America's relative dominance is less than it was, as other countries have adopted modern technology and market freedom,'' he said in the upbeat address.

''It's good that other countries, especially in Asia, now have much bigger economies because their own people are better off and because they're better customers for everyone. As imitation is the sincerest form of flattery, growing your economy by embracing freer markets is more a tribute to America than a threat to it.''