ASX200 trades flat after the Trump’s tariff announcement

A major fall in the healthcare sector dragged the ASX 200 down as the market factored in the latest update in US President Donald Trump’s tariffs.

Australia’s sharemarket took a breath on Tuesday, trading sideways, as the markets factored in the likely limited impacts of Donald Trump’s tariffs locally and half year results came in.

The benchmark ASX200 index gained just 1.2 points or 0.01 per cent, to close at 8484 points.

The broader All Ordinaries also had a subdued day, up 4 points or 0.05 per cent to 8751.60.

The Australian dollar was trading about US62.74 cents.

The ASX traded relatively sideways on Tuesday. Picture: NewsWire / Max Mason-Hubers

IG market analyst Tony Sycamore said on Tuesday the market held steady after Monday’s falls, on the news of 25 per cent tariffs on steel and aluminium coming into the United States.

“The market was shooting first and asking questions later, as Australia’s steel exports to the US and additionally China is not a major exporter to the US,” he said.

“All things being equal it doesn’t have widespread implications.”

Mr Sycamore said the market was also factoring in chances Australia could be exempted for the tariffs.

“Just hours after confirming the tariffs wouln’d take effect on March 4 ‘without exceptions or exemptions’, President Trump noted he would give ‘great consideration’ to a tariff exemption on Australian steel, citing that Australia is one of the few countries that the US has a surplus with,” Mr Sycamore said.

CBA slipped 0.4 per cent to $162.16, the day before it announces its half yearly results on Wednesday.

Fellow big four banks NAB fell 0.27 per cent to $40.43 while ANZ finished in the green up 0.32 per cent to $31.01, along with Westpac which jumped 0.68 per cent to $34.26.

It was mixed news for Australia’s major iron ore miners. BHP traded relatively flat, up 0.075 per cent to $40.12, while Rio Tinto was the best performing, up 0.33 per cent to $119.71. On the other hand, Fortescue slumped 1.5 per cent to $19.12.

Tuesday’s reporting season also was a mixed bag for investors.

CSL tumbled 5 per cent to $256.96, after releasing its first half sales. CSL dragged the health care sector as a whole down 2.94 per cent.

Eight of the 11 sectors rose as reporting season ramped up Picture: NewsWire / Max Mason-Hubers

eToro market analyst Josh Gilbert said there were some positives for CSL, but the market has focused on the headline miss.

“CSL delivered a disappointing set of first-half FY25 results, missing consensus estimates on both revenue and profit. Revenue rose 5 per cent to $8.48bn, while NPATA increased just 3 per cent to $2.07bn — both falling short of expectations, largely due to weakness in its Seqirus vaccine division,” he said.

Breville also slipped 0.4 per cent to $36.89 following the appliance manufacturer announcing a 10.1 per cent increase in revenue to $997.5m. It also announced plans to expand into China in the following year.

Shares in media company’s Seven West Media and Nine rallied after Seven announced advertising revenue was turning around.

The upbeat market announcement saw Seven West media jump 6.1 per cent to $0.175 while Nine soared 14 per cent to $1.47 to be the best performing share on the ASX.

Originally published as ASX200 trades flat after the Trump’s tariff announcement