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Australia calls for trade war resolution

There are sign that the goodwill between the US President and the Chinese leader Xi Jinping may be coming to an end.

Treasurer Josh Frydenberg and his Labor counterpart Jim Chalmers have called for a negotiated end to the escalating US-China trade war.

Both sides of Australian politics have called for an end to the escalating trade war between the US and China that sent Wall Street share markets reeling on Friday as fears of recession grows.

Treasurer Josh Frydenberg said when you have trade tensions between two big countries, it's not just the protagonists who are affected.

"Australia's national interest here is very clear. It's in China and the US coming to the negotiating table, being able to resolve their differences and for the transparent rules based trading system to be maintained."

Shadow treasurer Jim Chalmers agreed, warning "nobody wins" from the escalating trade war.

Read more here.

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