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Who Won?: Trade Wars and Australia; Australian Foreign Affairs 26

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"Trump's zero-sum thinking is causing negative-sum outcomes, where everyone loses, and the United States will eventually lose most." Shiro Armstrong
The twenty-sixth issue of Australian Foreign Affairs explores the decline of global free trade and the emergence of a new economic order in which nations view trade as a tool for gaining strategic advantage.


As Donald Trump's tariffs reshape the international marketplace, Who Won? looks at the unfolding era of weaponised trade and the ways in which Australia can respond, adapt and resist.



Shiro Armstrong explores how Australia can use its strengths to secure the future of international trade.
David Uren shows how the depth of our trading relationship with China limits our strategic options.
Melissa Conley Tyler argues that Australia must look inward as well as outward to shore up our foreign policy.
Richard Holden devises an economic policy response to weaponised trade and state power in the Trump–Xi era.
Robert Law calls for Canberra to strengthen its relationship with Jakarta through university-based tech collaboration.

PLUS Luke Brown on Indonesia and Anthony Milner on South-East Asia, and correspondence on AFA25's "The Challenge" from Melissa Parke, Allan Behm, Alex Bristow and Gareth Evans.

120 pages, Kindle Edition

Published February 23, 2026

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Jonathan Pearlman

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Profile Image for Stephen Kibble.
8 reviews
February 17, 2026
I’ve been reading this journal since it started and this edition with its new format is the weakest so far. It is very thin and of the 106 pages 11 are blank or a title page which seems rather wasteful.

I hope future editions go back to being value for money and full of thought provoking articles and informative debate.
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