Trump's election victory raises trade concerns for Australia amid proposed tariffs on China

Donald Trump's recent presidential victory raises concerns for Australia regarding its trade relationship with China. Trump has proposed a 60 percent tariff on Chinese imports, which could negatively impact Australia's economy due to its reliance on Chinese trade. The Australian dollar fell to a three-month low following Trump's win. Analysts warn that a potential US-China trade war could lead to higher interest rates and inflation in Australia, affecting demand for Australian exports, particularly in the resources sector. While some officials express optimism about securing exemptions from tariffs, the overall sentiment is cautious. The Albanese government is now faced with the challenge of navigating these new trade dynamics under Trump's administration.