By Eryk Bagshaw
Australia is bracing for a $36 billion economic hit (click here) as Donald Trump prepares to unleash his biggest strike yet in a trade war with China, with warnings a further escalation could cost thousands of local jobs.
Trade Minister Simon Birmingham called for calm, telling the superpowers to uphold the international order or risk derailing the global economic recovery."
Australia urges all parties to respect the long established rules of international trade and to avoid action that could ultimate damage their economies and those of other nations," he said.
"Our best form of defence against such trade tensions is to continue to open new doors for Australian businesses and exporters."
Mr Trump could raise tariffs on $US200 billion worth of products ranging from selfie sticks to clothing, after the US President signalled he would act as soon as a consultation period closed on Friday afternoon Australian time....
