Australian Trade Minister Tehan: Prepared to pay price in dispute with China

Australian Trade Minister Dan Tehan said in an interview in Washington, his country is prepared to bear the brunt of the Chinese trade measures economically, in order to defend its sovereignty.

Key quotes

“If we have to pay an economic price for that, that’s something that we’re prepared to pay.”

 “In the end, our values are so important to us and we think that they’re something that we have to protect above all else.”

“There is collective action we can all take with regards to dealing with economic coercion.”

“I think we do have to look at whether we can develop other tools to deal with it.”

AUD/USD reaction

The above remarks have little to no impact on the aussie dollar, as AUD/USD is trading 0.07% lower on the day at 0.7371, as of writing.