ASX 200 rises on Tuesday after US President Donald Trump praises 'good' tariff discussion between United States, China
The ASX 200 has jumped on Tuesday after leading United States officials lauded tariff discussions with China and boosted hopes of a soft trade war.
The index is up almost 0.4 per cent in the first 20 minutes of trading with Boss Energy surging 5.7 per cent, Bellevue Gold rising 2.7 per cent and insurance broker AUB Group jumping 2.1 per cent.
It continues to sit just in striking distance of setting a new record high as stocks recover from the post-Liberation Day wipeout.
Further hopes of the trade war simmering arose on Monday when US President Donald Trump praised trade discussions with China but conceded there were some difficulties in the negotiations.
'We are doing well with China. China's not easy,' Trump told reporters at the White House.
'I'm only getting good reports.'
US Treasury Secretary Scott Bessent told reporters the delegation had a 'good meeting' while Commerce Secretary Howard Lutnick said the discussions were 'fruitful'.
On Wall Street, the Dow Jones finished flat on Monday, the S&P 500 added 0.1 per cent and the Nasdaq grew 0.3 per cent.
Tesla shares rose 4.6 per cent after Trump signalled he wanted to end his public spat with Elon Musk where disagreement over a spending bill escalated to the point the tech billionaire claimed the US President's name was in the Epstein Files.
"We had a good relationship, and I just wish him well," Trump said.
London's FTSE 250 rose 0.6 per cent, Germany's DAX fell 0.5 per cent and the STOXX Europe 600 Index sank 0.1 per cent on Monday.
New Zealand's NZX 50 Index is up 0.5 per cent on Tuesday while Japan's Nikkei 225 has added 0.6 per cent.
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Perth Now
35 minutes ago
- Perth Now
US Marines arrive in LA amid immigration protests
Hundreds of US Marines have arrived in Los Angeles under orders from President Donald Trump, who has also activated 4000 National Guard troops to quell protests in the city despite objections from California Governor Gavin Newsom that the deployments are politically motivated. The city has seen five days of public protests since the Trump administration launched a series of immigration raids on Friday. State officials said Trump's response was an extreme overreaction to mostly peaceful demonstrations. About 700 Marines were in a staging area awaiting deployment to specific locations, a US official said. The Marines do not have arrest authority and will protect federal property and personnel, according to military officials. There were approximately 2100 Guard troops in greater Los Angeles on Tuesday, with more on the way, the official said. The troop deployments are estimated to cost about $US134 million ($A206 million), a senior Pentagon official said on Tuesday. Bryn MacDonnell, who is performing comptroller duties at the Pentagon, told lawmakers the cost included travel, housing and food for troops. "Think of how much veteran nutrition assistance and housing (the Trump administration) could be providing instead of dishonouring these troops using them as pawns," Newsom wrote on X. Trump's Marine deployment escalated his confrontation with Newsom, who filed a lawsuit on Monday asserting that Trump's activation of Guard troops without the governor's consent was illegal. The Guard deployment was the first time in decades that a president did so without a request from a sitting governor. The use of active military to respond to civil disturbances is extremely rare. "This isn't about public safety," Newsom wrote on X on Monday. "It's about stroking a dangerous President's ego." Los Angeles Mayor Karen Bass emphasised the unrest has been limited to a few downtown blocks. She drew a distinction between the majority of demonstrators protesting peacefully in support of immigrants and a smaller number of agitators she blamed for violence and looting. Bass said the agitators would be prosecuted to the fullest extent of the law. Trump has justified his decision to deploy troops by describing the protests as a violent occupation, a characterisation that Newsom and Bass have said is grossly exaggerated. Speaking to reporters in the Oval Office, the president said LA would be "burning right now" if not for the deployments, and that Guard troops would remain until there is no danger. Trump left open the possibility of invoking the centuries-old Insurrection Act, which would allow the military to take part directly in civilian law enforcement, saying one could argue that parts of the city were already seeing an insurrection. The protests since Friday have been largely peaceful, but there have been scattered clashes, with some demonstrators throwing rocks and other objects at officers, blocking an interstate highway and setting cars ablaze. Police have responded by firing projectiles such as pepper balls, as well as flash-bang grenades and tear gas. The Los Angeles Police Department said it arrested more than 100 people on Monday, including 14 for looting. In all, state and local police have arrested more than 180 people since Saturday on charges including assaulting an officer and attempted murder with a Molotov cocktail. Business owners in the Little Tokyo neighbourhood - where some of the most intense clashes between police and protesters occurred late on Monday - were washing graffiti off storefront windows and sweeping up litter on Tuesday. A store owner who did not want to give her name, fearing reprisals, said it was frustrating that the neighbourhood full of immigrants was paying the price of the protests against federal immigration agents. US Marines are trained for conflicts around the world - from the Middle East to Africa - and are also used for rapid deployments in case of emergencies, such as threats to US embassies.
West Australian
36 minutes ago
- West Australian
US Marines arrive in LA amid immigration protests
Hundreds of US Marines have arrived in Los Angeles under orders from President Donald Trump, who has also activated 4000 National Guard troops to quell protests in the city despite objections from California Governor Gavin Newsom that the deployments are politically motivated. The city has seen five days of public protests since the Trump administration launched a series of immigration raids on Friday. State officials said Trump's response was an extreme overreaction to mostly peaceful demonstrations. About 700 Marines were in a staging area awaiting deployment to specific locations, a US official said. The Marines do not have arrest authority and will protect federal property and personnel, according to military officials. There were approximately 2100 Guard troops in greater Los Angeles on Tuesday, with more on the way, the official said. The troop deployments are estimated to cost about $US134 million ($A206 million), a senior Pentagon official said on Tuesday. Bryn MacDonnell, who is performing comptroller duties at the Pentagon, told lawmakers the cost included travel, housing and food for troops. "Think of how much veteran nutrition assistance and housing (the Trump administration) could be providing instead of dishonouring these troops using them as pawns," Newsom wrote on X. Trump's Marine deployment escalated his confrontation with Newsom, who filed a lawsuit on Monday asserting that Trump's activation of Guard troops without the governor's consent was illegal. The Guard deployment was the first time in decades that a president did so without a request from a sitting governor. The use of active military to respond to civil disturbances is extremely rare. "This isn't about public safety," Newsom wrote on X on Monday. "It's about stroking a dangerous President's ego." Los Angeles Mayor Karen Bass emphasised the unrest has been limited to a few downtown blocks. She drew a distinction between the majority of demonstrators protesting peacefully in support of immigrants and a smaller number of agitators she blamed for violence and looting. Bass said the agitators would be prosecuted to the fullest extent of the law. Trump has justified his decision to deploy troops by describing the protests as a violent occupation, a characterisation that Newsom and Bass have said is grossly exaggerated. Speaking to reporters in the Oval Office, the president said LA would be "burning right now" if not for the deployments, and that Guard troops would remain until there is no danger. Trump left open the possibility of invoking the centuries-old Insurrection Act, which would allow the military to take part directly in civilian law enforcement, saying one could argue that parts of the city were already seeing an insurrection. The protests since Friday have been largely peaceful, but there have been scattered clashes, with some demonstrators throwing rocks and other objects at officers, blocking an interstate highway and setting cars ablaze. Police have responded by firing projectiles such as pepper balls, as well as flash-bang grenades and tear gas. The Los Angeles Police Department said it arrested more than 100 people on Monday, including 14 for looting. In all, state and local police have arrested more than 180 people since Saturday on charges including assaulting an officer and attempted murder with a Molotov cocktail. Business owners in the Little Tokyo neighbourhood - where some of the most intense clashes between police and protesters occurred late on Monday - were washing graffiti off storefront windows and sweeping up litter on Tuesday. A store owner who did not want to give her name, fearing reprisals, said it was frustrating that the neighbourhood full of immigrants was paying the price of the protests against federal immigration agents. US Marines are trained for conflicts around the world - from the Middle East to Africa - and are also used for rapid deployments in case of emergencies, such as threats to US embassies.
West Australian
an hour ago
- West Australian
Los Angeles protests: Donald Trump warns of more ICE operations, California emergency block rejected
US President Donald Trump has warned Americans that ICE raids seen in California are 'the first of many', defending National Guard and Marine mobilisation, as a Federal court denies an emergency block request. Protests and riots have broken out across large parts of Los Angeles and surrounding areas after Mr Trump ordered ICE raids to remove illegal immigrants from the United States and mobilised 4000 National Guard troops and around 700 marines in response to protests. Mr Trump on Tuesday (local time) said he had called California Governor Gavin Newsom to tell him 'you gotta do a better job'. 'He is causing a lot of death, a lot of potential death. 'If we didn't send the national guard... you would have... Los Angeles would be burning right now. 'You gotta remember we have the Olympics coming. 'We have people they look in your face, they spit right in your face, they are animals. 'They are paid insurrectionists 'We ended it and we have in custody some very bad people. Mr Trump warned Americans they should expect to see more large scale ICE operations across the United States. 'We're moving murderers out of our country who were put here by Biden 'We're gonna get them out. We're getting them out. 'We don't want them. They come from jails, they come from mental institutions. 'We're not going to let them stay. 'This is the first of perhaps of many. 'I can inform the rest of the country, that when they do it, if they do it, they will be met with equal or greater force. We did a great job.' Governor Newsom took aim at Mr Trump, saying he was 'behaving like a tyrant, not a President.' 'By turning the military against American citizens, he is threatening the very core of our democracy,' he wrote on X. 'I'm asking the court to immediately block these unlawful actions.' Governor Newsom had filed an emergency motion with a Federal judge, asking them to immediately block the 'ongoing and unnecessary militarisation of Los Angeles'. However, hours after lodging the emergency block request, a Federal judge denied the restraining order. A hearing has been set. Senior US District Judge Charles R. Breyer asked both the State of California and the Trump Administration to submit more detail before he hears the case on Thursday. Los Angeles Mayor Karen Bass called for demonstrations to continue but pleaded for vandalism and violence to be stopped. Protests have spilled out of California across the US, with Americans mobilising in places like New York and Texas. More to come...
