Australia's Prime Minister Anthony Albanese said he told U.S. president-elect Donald Trump in a phone call the United States has a trade surplus with Australia and it was in Washington's interest to "trade fairly" with its ally.

With him comes renewed vows to take on China and reclaim America's position atop the global word order. And he's vowing to pick up where he left off on his trade war with China. In this week’s podcast,

Some executives have warned that price hikes are on the way if President-elect Donald Trump's tariff plans go into effect. On the campaign trail, Trump proposed a 60% tariff on goods imported from China coupled with a 10% to 20% tariff on goods imported from other countries.