The Australian dollar dropped today to almost 3-year lows after a US-China trade war deepened.

US President Donald Trump announced $200 billion worth of goods coming in from China would be subject to higher tariffs.

China hit back announcing their own higher tariffs on US goods.

The former Australian Ambassador to the General Agreement of Trade & Tariffs (GATT) Alan Oxley speaks with Ross Greenwood about the impact of the trade war on Australia.

“We’ve got a fairly special case because we haven’t quite seen anything as colourful or direct as this.”

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Airport Economist Tim Harcourt tells Ross Greenwood “there’s no winners in trade wars”.

“Particularly a small open economy like Australia, with really efficient exporters, we really don’t want a trade war, it would be very bad for us.”

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