PM, Lew discuss Aust, US economies

Malcolm Turnbull and US Treasury Secretary Jack Lew have discussed the Australian economy during a 30-minute phone hook-up.

During the briefing, the pair are said to have agreed that the country's economy has defied predictions of a hard landing and is doing well.

It is understood Mr Lew told the prime minister the outlook for the US economy remains solid.

He also said the Trans-Pacific Partnership trade deal is the US government's top legislative priority and is not just seen as an economic issue but also plays into Asia-Pacific geopolitics.

The two also spoke about the threat posed by North Korea.