Trading in Australia terrible, as viewed from down under? (6)
I believe the answer is:
retail
'trading' is the definition.
(thesaurus)
'in australia terrible as viewed from down under?' is the wordplay.
'in' says the answer is hidden in the clue.
'as viewed from down under?' says the letters should be written in reverse (in a down clue, letters viewed from below).
'liater' is hidden in the letters of 'australia terrible'.
'liater' back-to-front is 'RETAIL'.
(Other definitions for retail that I've seen before include "Sell; pass on (e.g. gossip)" , "Tell story" , "This trade sells to the general public" , "Sell in small quantities" , "Direct sale to the consumer" .)