China act to tank Australia’s economy

News.com.au - 12/04
Australia’s economy could take a hit worse than the global financial crisis or Covid if the geopolitical tensions between China and the US continue.

Australia’s economy could take a hit worse than the global financial crisis or Covid if the geopolitical tensions between China and the US continue.

As the two superpowers vow “to fight until the end”, Australia could be stuck in the middle.

US President Donald Trump has implemented tariffs of 145 per cent against Chinese imports.

In what has become a tit-for-tat trade war, China has added its own tariffs, which now sit at 125 per cent, on US imports.

IG market analyst Tony Sycamore sounded the alarm of what the potential trade war could mean for Australia.

Australian consumers feel the pressure of Trump’s tariffs. Picture:NewsWire/ Monique Harmer

“At the risk of sounding dramatic, we are on the verge of seeing the two largest economic and military superpowers collide at high speed, with Australia caught squarely in the middle,” Mr Sycamore said.

“If current lines hold, the fallout has the potential to dwarf the economic impact on the Australian economy felt during the GFC and Covid.”

The tariff fallout has not been mis...
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