china: The US and China are Australia's biggest trading partners, according to Nine News Australia. We hope that sanity prevails, that China and the United States sort out their issues, he told reporters in Canberra on Wednesday. To improve your experience update it here News National Labor hopes for sanity in US-China stoush8 20am Sep 19, treasurer Chris Bowen hopes sanity prevails in the escalating trade war between China and the United States, saying the risk to Australia is material . Mr Bowen says Australia's high levels of household debt and slim budget surpluses leave the country exposed to major international economic downturns. We shouldn't overstate it - we shouldn't be alarmist - but the downside risk for Australia is material. US president Donald Trump has ratcheted up the simmering stoush by announcing tariffs on 278 billion worth of Chinese goods. Mr Bowen visited China earlier this month to get Beijing's perspective on the brewing trade tensions.
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