Managing the risk of global economic uncertainty is the government’s first order of business, Treasurer Jim Chalmers says, after an early-morning briefing with the Treasury secretary following Labor’s historic election victory.Chalmers told the ABC’s Insiders program on Sunday that he had spoken with Treasury boss Steven Kennedy at 6.45am and was briefed on the possible fallout for Australia amid strained US–China relations, including financial market movements and what they might mean for the local economy.He described this as the government’s “immediate focus”.”We know that the direct impact on us from the [US] tariffs is manageable and relatively modest,” Chalmers told Insiders.
“But there is a huge downside risk in the global economy. I think what’s happening, particularly between the US and China, does cast a dark shadow over the global economy.”
In March, Treasurer Jim Chalmers…
