(Dow Jones) -- Australia stands to be caught in the middle of a trade war between China and the U.S., which are Australia's largest export market and its biggest foreign investor, respectively, information analyst IBISWorld says. Yet despite challenges that could weigh on economic prosperity, it suggests the overall Australian economy is well placed should a trade war eventuate, at least relative to other global economies. IBISWorld says some local industries would have an opportunity to seize market share, with agriculture a potential big winner from tariffs on popular U.S. food products. Pork, wine, grain and fruit sectors in particular have an opportunity to benefit from retaliatory tariffs, it says.
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