Trade war offers 'great opportunities' for Australian business: Assistant Treasurer

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Assistant Treasurer Michael Sukkar says Australian businesses are in an ideal position to exploit opportunities springing from global trade tensions

as the country walks the "tight rope" between being a "great ally to the US but also a great trading partner to China".

Mr Sukkar backed Australian businesses to be "smart enough" to recognise opportunities to increase trade with China, as well as Japan and South Korea, after Japan last month"When two big gorillas, so to speak, are placing tariffs on each other's goods, you don't need to be a Rhodes Scholar to work out there are going to be great opportunities for you," Mr Sukkar told"Obviously our relationship with the US is pre-eminent and takes precedence over everything else,...

"If we really want to give small businesses a capacity to grow, a chunk of it is about mentoring and the capacity to get business, not handouts. Australian governments have an annual procuring budget of around $11 billion. That's a lot."

 

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