The Australian sharemarket will slide more than 1 per cent when it opens on Monday as investors brace for the Trump administration to outline an aggressive tariff plan that will cloud an already uncertain economic outlook.

Across the market, brokers and strategists were warning of massive uncertainty that could create a volatile week. Already, the ASX and Wall Street have bounced around as the White House’s ambitions to shake up global trade grow, slowing GDP growth and pushing up inflation.