14.07.202500:50:55UTC+00Australian Shares Edge Down

On Monday, the S&P/ASX 200 experienced a slight decrease, dipping by 0.1% to settle at 8,572. This decline was attributed to growing investor caution following new tariff threats issued by US President Donald Trump, which have rekindled concerns over a possible global trade war. Trump declared the imposition of a 30% tariff on goods originating from the European Union and Mexico, effective August 1, while also hinting at the possibility of additional tariffs on other countries. He urged these trade partners to return to negotiation talks. In a related move, Trump proposed a significant 200% tariff on Australian pharmaceuticals, a measure that has unsettled both Australian industry leaders and government officials. This tariff, if implemented, could potentially impact the Australian economy by as much as A$2.8 billion. Noteworthy declines for the day included Block, Inc., which fell by 5.1%, Amcor PLC, down by 1.5%, and ResMed, Inc., decreasing by 1.3%. Meanwhile, attention is directed towards major banks and leading retailers, who have reportedly pledged AU$25 million to support the continuation of cash transportation company Armaguard's operations through December.