The Daily Aus
Headlines: Trump tariff pause prompts ASX bounce back
Apr 10, 2025
In today’s discussion, the Australian stock market has seen a notable recovery after Trump’s announcement of a tariff pause. Political tension arises as the Coalition might consider withdrawing from the Paris Agreement if victorious in the upcoming election. Meanwhile, New Zealand's Parliament takes a significant step by dismissing controversial legislation affecting its founding document. Adding a bright note, a new edible biofilm is on the horizon, promising to double the shelf life of perishables and reduce food waste.
04:19
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Quick takeaways
- The Australian stock market rebounded substantially following Trump's 90-day tariff pause, indicating renewed investor optimism and market strength.
- New Zealand's Parliament's dismissal of the contentious Treaty Principles Bill underscores the strong public sentiment and adherence to the Treaty of Waitangi.
Deep dives
Market Rebound Following Tariff Pause
The Australian stock market experienced a significant bounce back after the announcement of a 90-day pause on tariffs by US President Donald Trump. This development contributed to one of the largest single-day increases in the S&P 500 since World War II, leading to a similar surge in the ASX, marking its strongest performance since March 2020. Despite the unchanged 10% levy on goods imported to the US, the tariff pause added approximately $150 billion in value to Australian shares, signaling a positive sentiment in the market. The Aussie dollar also strengthened, rising to 61.5 US cents from a low of 59 US cents earlier in the week, reflecting investor optimism following the tariff announcement.
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