Donald Trump is a blow to Australia on climate and trade. Here’s how we minimise the damage | Ross Garnaut

The idea of open international exchange that framed the Australian reforms of the late 20th century and its subsequent economic success are being challenged in the 21st century .

The challenge is intensified by the restoration of Donald Trump as president of the United States .

He is committed to higher protection, tax cuts that will set record highs for budget deficits, a trade war with Australia ’s largest trading partner with a risk of worse, and separation from the rules-based international trading system.

The most constructive response is to further liberalise trade.