US markets ‘subdued' as Trump's tariff deadlines loom
CommSec's Tom Piotrowski says there has been 'a lot of disquiet' around US trade last night.
'The spectre of more tariffs and in addition to that, the looming deadlines that have been imposed by the Trump administration,' Mr Piotrowski said.
'A grace period for tariffs is coming up so that subdued the markets in early trade.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

News.com.au
an hour ago
- News.com.au
How Trump's new crypto bill could affect stablecoins and the dollar
A new bill making its way through Congress aims to regulate stablecoins, most of which are pegged to the U.S. dollar. Should the bill become law, Solidus Labs' Chen Arad explores the implications for the stablecoin industry and the greenback.

News.com.au
2 hours ago
- News.com.au
Marines ordered by Trump to LA start deploying
The first US Marines ordered by Donald Trump to Los Angeles will deploy Friday, the Pentagon said, raising the stakes in a standoff that pits the president against protesters claiming growing authoritarianism. The approximately 200 Marines are part of a group of 700 set to join 4,000 National Guard soldiers, while local police conduct a crackdown on unrest over Trump's sweeps for undocumented migrants. The Marines -- normally used as crack troops in foreign conflicts -- will be equipped with riot gear to guard a federal building starting from 12:00 pm (1900 GMT), Major General Scott Sherman told reporters. An intense legal battle is underway over Trump's authority to deploy troops on US soil, as the country braces for widespread protests Saturday, when the Republican will be overseeing a rare large-scale military parade in Washington. The parade celebrates the 250th anniversary of the US Army but also coincides with Trump's 79th birthday and will be the first time tanks and other heavy weaponry has rolled through the capital city in three decades. A "No Kings" movement has sprung up promising to stage protests in more than 2,000 places across the country in response. Trump dispatched about the California National Guard to Los Angeles last weekend following mostly peaceful, but occasionally violent protests against a surge in immigration raids in the second-largest US city. In a show of political force, Trump overrode the objections of Democratic Governor Gavin Newsom who usually would control the Guard. The president repeatedly exaggerated the scale of violence, claiming that without troops, Los Angeles would be "burning to the ground right now." Late Thursday, District Judge Charles Breyer ruled that Trump's actions were "illegal" and ordered that he return control of the guard to Newsom. Breyer said the LA unrest fell "far short" of the "rebellion" that Trump had described. However, a higher court quickly paused the order pending an appeal hearing with the Trump administration next Tuesday. The Department of Justice slammed Breyer's ruling as "an extraordinary intrusion on the President's constitutional authority as Commander in Chief." The dispute mirrors multiple other tussles over Trump's attempts to expand the limits of presidential power, but is the first to involve troops. The use of Marines is especially controversial, although those deploying Friday will be at a building nowhere near the site of last week's protests. - 'Voices for the people' - Many in Los Angeles are angry about immigration raids carried out as part of Trump's ambition to deport vast numbers of undocumented migrants around the country. Outrage at Trump's raids and the use of masked, armed immigration agents backed by uniformed soldiers has already sparked protests in other cities, including San Francisco, New York, Chicago and San Antonio, Texas. "What brings me out here? The people that were taken, people who don't have voices. We are the voice for the people," Jasmine, a protester in Los Angeles, told AFP on Thursday. Tensions hiked further Thursday when California Senator Alex Padilla, a Democrat, was handcuffed and forcibly removed from a news conference by Homeland Security Secretary Kristi Noem. The incident "reeks of totalitarianism," Senate Minority Leader Chuck Schumer said, calling for an investigation. The White House hit back, claiming despite video evidence to the contrary, that Padilla "lunged toward Secretary Noem."

News.com.au
3 hours ago
- News.com.au
Trump tells Iran to make deal or face 'more brutal' attacks
US President Donald Trump urged Iran Friday to make a deal or face "even more brutal" attacks, while keeping the door open for negotiations after Israel's deadly strikes on Tehran's nuclear facilities. Trump appeared to be sitting on the fence, a day after having publicly told Israeli Prime Minister Benjamin Netanyahu to hold off striking Iran only to see the key US ally go ahead anyway. The operation killed senior figures -- among them the armed forces chief and top nuclear scientists -- and Iran has called Israel's wave of strikes a "declaration of war." "There has already been great death and destruction, but there is still time to make this slaughter, with the next already planned attacks being even more brutal, come to an end," Trump said on his Truth Social platform. "Iran must make a deal, before there is nothing left... JUST DO IT, BEFORE IT IS TOO LATE," he said. Trump said that he "gave Iran chance after chance to make a deal." He added that Israel -- which Trump has closely aligned with since his return to the White House -- has a lot of weapons thanks to the United States and "they know how to use it." Trump was attending a National Security Council meeting Friday in the White House Situation Room. - 'It's been excellent' - But Trump later appeared to be making a political calculation about how best to respond to Israel's attack. Less than a day earlier Trump had called on Israel to hold off an attack to make room for diplomacy, only for the key US ally to hit Iran as Trump was holding a picnic at the White House for members of Congress. By Friday morning, however, Trump was calling the Israeli offensive "excellent" during a round of phone calls with US media. "I think it's been excellent," ABC News quoted him as saying. "And there's more to come. A lot more." Trump also gave mixed signals about the extent of US involvement. Secretary of State Marco Rubio had said Thursday that the United States was "not involved" in the strikes and warned Iran not to retaliate against any US forces in the region. Trump, however, said on Truth Social on Friday that Israel had acted because a 60-day deadline that he had set for Iran had run out, implying that the two acted in concert. His boasts about the "finest" US equipment that Israel had used -- a day before a huge parade in Washington on Trump's 79th birthday featuring US aircraft and tanks -- also muddied the waters. Trump earlier told Fox News he had been made aware of the Israeli strikes before they happened, and stressed that Tehran "cannot have a nuclear bomb." But at the same time Trump said Iran could have a second chance to negotiate. "They missed the opportunity to make a deal. Now, they may have another opportunity. We'll see," Trump told NBC. Trump also indicated that the Iranians were "calling me to speak" after the attacks to suggest they wanted to make a deal, without offering specifics. During Trump's first term, he pulled the United States out of a landmark agreement to relieve sanctions on Iran in return for curbs on its nuclear program. The United States and Iran have had several rounds of talks since Trump returned to the White House, but after initially striking an optimistic tone, they have foundered in recent days.