Australia's Labor government will prioritise dealing with the "dark shadow" of the U.S.-China trade war following its resounding reelection victory, Treasurer Jim Chalmers said on Sunday, after a campaign that highlighted concerns over U.

Anthony Albanese will lead a majority Labor government in a second term after securing a convincing majority in the federal election.

Opposition leader Peter Dutton says he accepts 'full responsibility' for the Coalition loss, as Australian PM Anthony Albanese hails the result as a vote 'for Australian values'.