Jim Chalmers, RBA meet as billions wiped from Aussie market and Donald Trump boasts 'it's our turn to do the rippin''

Treasurer Jim Chalmers has held an urgent meeting with top financial officials to discuss the turbulence triggered by Donald Trump's tariff trade war, but says Australia is "well placed" to manage the "volatility" of the global economy. On a day that $50 billion was shed from the ASX, Chalmers joined key regulators including ASIC, APRA, the ACCC and the Reserve Bank at the RBA's headquarters in Sydney. WATCH THE VIDEO ABOVE: Urgent meeting held as billions wiped off Australian sharemarket by US trade war. Know the news with the 7NEWS app: Download today "Australia is well placed and well prepared…