By Richard Maude, Executive Director of Policy, Asia Society Australia.

If it comes to pass, a second Donald Trump presidency will once again strain the bonds that have kept Australia and the United States close through so many decades.

The self-interested nationalism of “America First” sits in fundamental opposition to the ideas that animate Australian foreign policy. We will have significant policy differences. Trump’s autocratic instincts, laid bare in attempts to steal the 2020 election, make talk of shared values a stretch.

A Trump victory is far from assured. Still, the government needs a plan for one, and well before election day.

Australia’s instinct will be to “manage through” pragmatically – to pick fights carefully, to be tough in private when needed while disagreeing politely in public, to build support for Australia in the administration, Congress and big business, and to work around Trump wherever possible.

This was the model for Trump’s first presidency. There is nothing illegitimate in it, recognising as it does the enduring national interests that Australia has in its relationship with the United States – interests that are too important for governments to ignore, whatever they might think privately of Mr Trump.

The alliance, on which Australia has staked so much as China’s power grows, is deeply institutionalised and will outlast Trump 2.0. The government is doing as much as it can to lock down AUKUS arrangements before the election. There is every chance economic ties will escape Trump’s obsession with “unfair” trade – Australia’s economy is open and the US enjoys a healthy trade surplus.

Australia will hope that the institutions of the American state will temper excess: the US Constitution limits the ability of any one branch of government – legislative, executive, or judicial – from gaining too much power. Republicans in Congress, for example, won’t challenge Trump publicly, but nor will they give him free rein. And what shapes America happens in its states as much as in Washington.

Tempering will happen in other ways. Trump doesn’t usually pay much attention to the interests of close partners, but others in a Trump administration will. The US needs dependable partners – that gives Australia access and at least some influence. Then there’s the noise-to-signal ratio: not everything Trump says will result in action. In short, Australia will be able to get things done, even if it is a wild ride.

Still, one doesn’t have to catastrophise about Trump to be alarmed at what might be in prospect. Constrained or not, the radical intent of Trump to remake America and its place in the world is clear.

We have been here before, of course, but the stakes are higher, the context different, and the Trump movement better prepared. Today, China’s challenge is sharper and its global dimensions clearer. China’s military modernisation is quickening. The noose is tightening around Taiwan.

The bloody, grinding conflict in Ukraine is a daily test of US resolve to stand against totalitarianism in Europe. Democracy and liberalism continue their world-wide retreat. Meanwhile, last year was the hottest on record globally.

Unpredictable, inconsistent US leadership won’t support Australian national interests at such a critical moment.

The rupture of transatlantic relations; a weaker NATO; the abandonment of Ukraine; emboldened leaders in China and Russia; disengagement from climate change processes; deeper global economic fragmentation; neglect of South-East Asia – if Trump were to win, not all of these outcomes are certain, but all are plausible.

“Managing through” a second Trump term will therefore be necessary but not sufficient.

For example, the government would need to consider a like-minded “coalitions of resistance” to shape or push back on some US decision-making – that will require loads of diplomatic finesse. Japan and South Korea would be key partners, and Europe more central to Australian thinking than it is today.

Australia could choose to deepen the nation’s already evident hedge in Asia against both US inconsistency and Chinese aggression, diverting even more resources and political attention to its major Asian relationships. It may be necessary to spend more on defence and accelerate efforts to develop some sovereign military capabilities.

Plurilateral co-operation without the United States, in groups small and large, could become more necessary. We would likely need to do more patching of the international system where our interests are strongly engaged, as the Morrison government did in supporting an interim appeal arbitration arrangement for trade disputes.

Australia will need to think hard about how to influence a Trump administration on China. US and Australian approaches to China currently combine deterrence with reassurance through diplomacy. Under Mr Trump, misalignment could occur quickly.

Trump has also flagged swingeing new tariffs on Chinese imports and greater self-reliance in “essential goods”. A new trade war and the ever-advancing boundaries of “de-risking” will pose complex policy challenges.

Australia’s closest friends in America remind us that US democracy is often untidy and that for all its flaws, America is, well, the only America we have. This is a good argument for protecting the alliance but not for normalising what Trump represents. If Trump wins, that distinction will be as good a guide as any to policy-making in the national interest.

This article originally appeared in Australian Financial Review.