Get used to US-China trade war, Australian PM warns - Australian Associated Press

Omkar Godbole FXStreet Contributor

Australian Prime Minister Scott Morrison believes Australia and the rest of the world will need to get used to the trade war between the US and China and look for opportunities in the trade tiff.

Morrison told the Seven Network on Tuesday:

"I think we're going to have to get used to this for a while, this level of tension," Mr Morrison told the Seven Network on Tuesday.

We've just got to accommodate that, we've got to absorb it, we've got to see the opportunities in it, of which there are many.

It is worth noting that one of Australia's biggest agricultural competitors in China is America. So, the ongoing trade war between the US and China could be a blessing in disguise for the Australian farmers.

"The US-China trade war could deliver Australian farmers a one-off $1 billion boost and generate an extra 3900 jobs just in time to offset the crippling cost of drought," according to a report by Shane Wright, a senior economics correspondent for The Sydney Morning Herald.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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