Australia would be a casualty in a US-China trade war if a re-elected Donald Trump hiked tariffs on Beijing, the Treasury chief warns. Mr Trump has said he would impose a 60-100 per cent levy on Chinese imports if he won the presidency. He said he would also slap a blanket 10 per cent tariff on all foreign imports.

Beijing has enacted sweeping laws since US president-elect’s first term that would allow it to retaliate if threatened

If Trump's proposed 60% tariff against China is enacted and the country responds aggressively, it could pressure some of America's largest companies.