US midterms will have economic consequences for Australia

Summarised from 2 outlets · Updated 3 Nov, 01:08 · Archive

Australian treasurer Jim Chalmers warns the US midterm elections will have significant economic consequences for Australia.

Australian treasurer Jim Chalmers has warned that the outcome of the US midterm elections will have significant economic consequences for Australia. He told ABC Radio that the implications would flow to countries around the world, with particular concern around Middle East policy and its effect on cost of living.

Chalmers said Americans and Australians face similar economic pressures including inflation, but that the US has decision-making power over the war in the Middle East that Australia does not. He stated that 'Australians are the cost-of-living casualties of decisions taken in DC and Tehran'.

The midterms, taking place on Wednesday Australian time, have all 435 seats in the House of Representatives and one-third of the Senate up for grabs. Opinion polls suggest Democrats are tipped to end the Republican hold of both houses. If Democrats control either chamber, it would limit President Trump's ability to pass legislation or block crucial appointments, and could allow them to launch investigations into the Trump administration's actions.

How it is being reported

• US midterms to bring 'big economic consequences' homeJim Chalmers has signalled Australians could be impacted by the outcome of the US midterm elections, no matter the outcome at the ballot box.The West Australian · 3 Nov, 00:31
• US midterms to bring 'big economic consequences' homeJim Chalmers has signalled Australians could be impacted by the outcome of the US midterm elections, no matter the outcome at the ballot box.Perth Now · 3 Nov, 00:31

In this story: Jim Chalmers · United States · Australia · Democrats · Republicans

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log