ASX 200 soars after US President Donald Trump indicates he will not extend the deadline on his 'Liberation Day' tariffs
The ASX 200 has jumped on Monday after US President Donald Trump indicated he would not need to extend the deadline on his 'Liberation Day' tariffs.
The index has jumped 0.3 per cent in the first 40 minutes of trading with building materials company James Hardie jumping 9.3 per cent, insurance provider nib Group rising 4.6 per cent and fintech company Block adding 3.8 per cent.
It comes as the index has surged almost 10 per cent over the past 12 months, driven in part by an almost 48 per cent rise in the market's largest company Commonwealth Bank of Australia.
Trump delivered some certainty over his trade policies on Sunday when he told Fox News he did not think his administration would need to extend the July 9 deadline for his sweeping tariffs.
'I don't think I'll need to," he said in response to a question over extending the deadline.
This follows White House press secretary Karoline Leavitt last week saying the deadline for Trump's sweeping tariffs may be extended.
She noted Trump could "simply provide ... countries with (a) deal if they refuse to make us one by the deadline' and set "a reciprocal tariff rate that he believes is advantageous for the United States'.
Pressed on this, Ms Leavitt said: 'Perhaps it could be extended but that's a decision for the president.'
On Friday, the S&P 500 added 0.5 per cent, the Dow Jones jumped one per cent and the Nasdaq was up half a per cent.
London's FTSE 250 jumped 1.1 per cent, Germany's DAX soared 1.6 per cent and the STOXX Europe 600 added 1.1 per cent on Friday.
New Zealand's NZX 50 Index has fallen 0.1 per cent since trading began on Monday, while Japan's Nikkei 225 is up 1.4 per cent.
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