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Trade war

Australia faces a double-edged sword amid US-China trade standoff

Wine exports set to flow, but iron ore and pork sectors wary of rising tensions

SYDNEY -- Amid deepening confusion over U.S.-China trade relations, Australia finds itself both hopeful and anxious as two of its most important trade partners exchange threats. While Australian wine producers will likely benefit from higher Chinese tariffs on U.S. goods, the country's iron ore and pork industries could be squeezed if trade tensions continue to escalate.

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