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Treasury has done modelling on cost of potential US tariffs

Jim Chalmers has now gone to ABC RN Breakfast and says the government has done modelling on what impact tariffs from the US would have.

I've had the ability to brief my colleagues on a number of occasions now on some of that sort of work, and the broad conclusion out of that work is that Australia is a big beneficiary of open global trading. We are a very trade exposed economy, it means that we're not immune when they are escalating trade tensions.

Our relationship is mutually beneficial and all the conversations we'll have with our American counterparts will be about making sure that this really key economic relationship continues to be beneficial to both sides.