But thanks to China’s retaliatory tariffs on American goods, imports from the United States are getting more expensive. That could make Australia more appealing as a source for products as varied as goat milk, nuts and aluminum.

“Australia is one of the best-placed countries in the world to reap the gains of the trade war,” said Jason Aravanis, a senior industry analyst in Melbourne for IBISWorld, a market research company. “Over the long term, Australia is going to step in and replace a lot of these American exports.”

There is one big caveat. Should the trade war hurt growth in China, its purchases of Australian iron ore, natural gas and other major imports could slow. That could damage an Australian economy that depends in large part on natural resources for growth.

The United States and China have swapped tariffs on $250 billion worth of each other’s goods so far, with President Trump threatening more unless China lowers its trade barriers. China has heavily criticized the tariffs but shown little sign of backing down.

It is too early in the trade war to determine winners and losers, but the global economic order is already changing. Global companies are exploring ways to shift manufacturing out of China, and both the United States and China are seeking to purchase more from elsewhere.