ASX 200 zigzags on Monday after Donald Trump threatens 50 per cent tariff on European Union before delaying it days later
The ASX 200 has zig-zagged in the first hour of trading on Monday as mixed-messages from Donald Trump on his trade war sparked caution among investors.
Uranium mining companies are continuing to surge on Monday after Trump signed an executive order to overhaul the US Nuclear Regulatory Commission and boost the power source in America.
Deep Yellow has soared 12.4 per cent, Paladin Energy has jumped 10.9 per cent and Boss Energy is up 9.5 per cent, following similar rises for the miners on Friday.
The ASX 200's largest tech company WiseTech more than five per cent on Monday as it confirmed reports it is purchasing Texas-based software firm e2open for $3.2 billion.
The index jolted after mixed messages on Donald Trump's trade war as the US President agreed to delay 50 per cent tariffs on the European Union by a month.
It followed Trump on Friday saying he was frustrated with the negotiations and threatened the massive levy on goods from the EU, despite initially announcing 20 per cent tariffs in April and later halving this.
'I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50 per cent Tariff with respect to Trade and the European Union,' Trump wrote on Truth Social on Monday.
'I agreed to the extension — July 9, 2025 — It was my privilege to do so. The Commission President said that talks will begin rapidly. Thank you for your attention to this matter!'
The US President also warned Apple would face significant levies on foreign made iPhones, sending the major tech stock diving three per cent on Friday.
On Wall Street, the Nasdaq plunged one per cent, the S&P 500 dropped 0.7 per cent and the Dow Jones lost 0.6 per cent on Friday.
Trump's EU threat rattled European indexes with London's FTSE 250 Index slumping 0.4 per cent, Germany's DAX Index falling 1.5 per cent and the EURO STOXX 50 Index shedding 1.8 per cent.
New Zealand's NZX 50 Index is down 0.2 per cent since trading began on Monday while Japan's Nikkei 225 is up 0.7 and South Korea's KOSPI 200 is up 0.5 per cent.
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