Trump Tariff Talk Continues

• Overnight, markets had to digest yet another round of Trump tariff discussions, with a new proposal to impose tariffs on steel and aluminium imports.
• Details remain unclear, but the core focus is on targeting countries that impose tariffs on U.S. goods.
• Market reaction was relatively muted, as the announcements were perceived as less extreme than initially feared.
• Given Australia’s role as a major aluminium exporter, the news was not taken lightly, prompting the Prime Minister to reach out to Trump directly for discussions.