And here is where the political crosses over with the economics of the situation – Jim Chalmers:

I’m realistic about the impacts of these escalating trade tensions on the global economy, but I’m quite optimistic about Australia’s capacity to make the best of a bad situation, that’s because of the progress we’ve made, the plan that we have from here, and it also I think, sharpens the choice in the election.

Peter Dutton does pose an unacceptable risk to household budgets and to the Australian economy more broadly. We’ve seen that with his bin fire of cuts and chaos earlier today, but not just earlier today.

This would be the worst time to risk a change of government to a coalition government that would make wages lower, taxes higher, and who has secret cuts to pay for nuclear reactors.