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SYDNEY, AUSTRALIA - NewsWire Photos APRIL 07: A general view of the digital boards at the ASX in Sydney, as investors are strapping themselves in for a sea of red when the ASX opens on Monday at 10am. The futures market predicts the ASX will plummet on the opening bell, as investors continue to sell-off on fears US President Donald TrumpÃs reciprocal tariff policies will send the global economy into a recession. Photo by Gaye Gerard / NewsWire

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ASX rockets up after Trump tariff backflip

US President Donald Trump’s wild backdown on tariffs has lifted Wall Street and sent the Australian sharemarket shooting up.

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SYDNEY, AUSTRALIA - NewsWire Photos APRIL 07: A general view of the digital boards at the ASX in Sydney, as investors are strapping themselves in for a sea of red when the ASX opens on Monday at 10am. The futures market predicts the ASX will plummet on the opening bell, as investors continue to sell-off on fears US President Donald TrumpÃs reciprocal tariff policies will send the global economy into a recession. Photo by Gaye Gerard / NewsWire

UPDATEDBusiness Breaking News

ASX rockets up after Trump tariff backflip

US President Donald Trump’s wild backdown on tariffs has lifted Wall Street and sent the Australian sharemarket shooting up.

(COMBO) This combination of pictures created on April 04, 2025 shows, L-R, US President Donald Trump on Air Force One, en route to Miami, Florida on April 3, 2025 and Chinaâs President Xi Jinping in Beijingâs Great Hall of the People on March 8, 2025. The world's second largest economy, China, appeared at the top of the tariffs list that Trump held up at the podium on April 3, with the president claiming that total tariffs on US goods charged by Beijing -- with currency manipulation factored in -- amounted to 67 percent. China announced 34 percent tariffs on US imports on April 4, the first major economy to fire back against President Donald Trump's swingeing new levies in an escalating global trade war that sent markets deep into the red. (Photo by MANDEL NGAN and GREG BAKER / AFP)

‘4D chess’: China walks into Trump trap

Donald Trump’s plan to pause tariffs on most countries except for China was the US President’s “strategy all along”, the Secretary of the Treasury said.

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Donald Trump's global reign of economic terror continues, with his tariff backflip wreaking havoc on the outlook for interest rates here.

Everything about to change for homeowners

Yesterday, economists were tipping a super-sized rate cut when the RBA meets in a few weeks, but a lot can change in 24 hours – thanks to Donald Trump.

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The Trump tariffs have sidetracked Anthony Albanese and Peter Dutton on the election trail. Picture: NewsWire

Albo rules out ‘phenomenal offer’ to Trump

Anthony Albanese has hit back after Donald Trump outlined a key condition in exempting local imports from the US’s global tariff fiasco.

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Australia can fight back against Donald Trump’s brutal tariffs

‘Genius’ plan to hit Trump where it hurts

Donald Trump has hit us with a brutal tariff as he tries to tear down the global economy. We can accept the abuse. Or we can hit back.

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Albo reveals five-point plan to fight tariffs

Prime Minister Anthony Albanese has revealed his five-point plan to combat US President Donald Trump’s new tariff measures against Australia.

TOPSHOT - US President Donald Trump delivers remarks on reciprocal tariffs during an event in the Rose Garden entitled

Aussie market loses $21bn in Trump chaos

US President Donald Trump’s ‘Liberation Day’ tariffs on the world’s major economies triggered a sharp fall in Australian stocks, wiping out $21bn in value.

SYDNEY, AUSTRALIA - NewsWire Photos APRIL 1, 2025: RBA Governor Michele Bullock during a press conference on Tuesday. The Reserve Bank of Australia has announced the official cash rate will remain unchanged. Picture: NewsWire / Nikki Short

RBA’s stunning Trump warning for Aussies

The RBA has just delivered a stark warning that Donald Trump’s trade war could trigger disorder in the global economy and hammer Australians.

SYDNEY, AUSTRALIA - NewsWire Photos - Thursday, 3 April 2025: ACTU Secretary Sally McManus pictured in front of workers outside Fair Work Commission, Sydney.Picture: NewsWire / Monique Harmer

‘Not America’: Demand for $2k wage boost

Union leader Sally McManus has fronted the Fair Work Commission to push for a big minimum wage increase for workers.

23 Feb 2002 /CREDIT /NASA PicReto/St?i This is the most detailed true-colour image of the entire Earth to date. Using a collection of satellite-based observations, months of observation of the land surface, oceans, sea ice, and /clouds have been stitched into a seamless, true-colour mosaic of every sq.km of our planet. Much of the information contained in this image came from NASA?s Moderate Resolution Imaging Spectroradiometer, or MODIS. Flying over at 700km. aerials world map maps mapping

‘Dirty’ countries decimated by Trump tax

Donald Trump has reserved the harshest tariffs for what he calls “dirty” countries – some of the world’s most vulnerable developing economies.

Federal Election

CANBERRA, AUSTRALIA - NewsWire Photos - April 2, 2025: Shadow Treasurer of Australia, Angus Taylor addresses the National Press Club of Australia in Canberra for the Post Budget Reply Address. Picture: NewsWire / Martin Ollman

Musk ‘inspiration’ to Coalition treasurer

Shadow Treasurer Angus Taylor has cited Elon Musk’s Starlink as a source of inspiration, but refused to say whether DOGE cuts are coming to Australia.

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Original URL: https://www.couriermail.com.au/business/economy/page/5