United States becomes preferred market for Australia

The United States has become the preferred market for Australia rather than China, says The Motley Fool Chief Investment Officer Scott Phillips.

Mr Phillips said Australia went from the “second largest economy to the largest” by going to the United States.“The trade embargos, the tariffs and the trade bans that we’ve seen,” Mr Phillips told Sky News Australia. “Businesses basically voting with their wallets and saying, 'you know, what we think the US is a safer place to go and do business – a more dependable, reliable, forecastable way to do business'.”

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