Australia is 'well prepared' to handle global trade tensions, says treasurer

Australia will not be immune from escalating global trade tensions but is confident it can navigate the changes, Treasurer Jim Chalmers said on Tuesday.

"These are big developments out of the U.S. but they are not a big surprise. These changes were flagged in one way or another during the election campaign," Chalmers told ABC News.

"We are well placed. We are well prepared."

Even though Australia and New Zealand were not directly targeted by U.S. President Donald Trump's tariffs, they have open economies that rely on free trade, particularly with their major export market China. 

 

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