Australia's Treasurer Jim Chalmers has expressed concerns about the potential short-term economic challenges that may arise as a result of Donald Trump's election as US President.
According to Treasury modeling, Australia could experience a slight decrease in economic output and an increase in inflationary pressures due to Trump's policy agenda.
However, Chalmers also highlighted that Australia's economic structure positions it favorably compared to other nations in dealing with these developments. The government is closely monitoring the situation and making preparations for the potential impact of US policy changes on the Australian economy.