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Trump trade war could force the RBA to jack up rates

A global trade war triggered by Donald Trump’s proposed tariffs would push up the price of goods around the world, putting pressure on the Reserve Bank of Australia to deliver further interest rate rises and potentially wiping $12 billion off mining exports.

National Australia Bank chief Andrew Irvine on Thursday said he was worried a trade war will erupt between the United States and China under president-elect Trump, as the RBA warned there could be an “adverse effect” on the local economy from his proposed tariffs.

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