With Donald Trump back in the White House early next year, there’s a real possibility he’ll ignite a trade war with Beijing.
Given Australia does so much trade with China, that could have big consequences for our economy.
Today, we explore what could be in store for inflation, interest rates and our wider economy once Trump’s back in charge.
Economist Susan Stone explains that tariffs generally end up costing consumers and businesses more, and could lead to significant job losses.
She highlights that Australia’s high-tech exports to the U.S. might be impacted, and stresses the importance of finding new markets for these goods.
Dr. Stone also discusses the potential ripple effects on Australia’s economy if Trump’s policies slow down China, Japan, and Korea, our top trading partners.
She says retaliatory tariffs from other countries could further disrupt global trade.
Featured:
Dr Susan Stone, Credit Union SA Chair of Economics at the University of South Australia
Key Topics:
- Donald Trump trade policies
- U.S.-China trade war
- Australian economy
- Inflation and interest rates
- Tariffs
- High-tech exports
- Trade with China, Japan, and Korea