Australian shares are poised to open lower Friday as global leaders react to the US' fresh tariffs on imported cars.
The Trump administration on early Thursday released an order imposing a 25% tariff on automotive imports to the US, effective April 3.
The move generated criticisms from the US' global allies as markets braced for potential retaliatory tariffs. Germany called on the European Union to come up with a "firm response" to the US, while France proposed its own tariffs on US cars, media outlets reported. Canada vowed to defend its companies.
The continued uncertainties hovering above global trade relations sent Wall Street lower overnight. The Nasdaq Composite shed 0.5%, the Dow Jones Industrial Average dropped 0.4%, and the S&P 500 fell 0.3%.
In company news, Star Entertainment Group (ASX:SGR) said the Queensland government deferred the suspension of its Gold Coast casino license until Sept. 30 from March 31, according to a Thursday filing with the Australian bourse.
BHP Group (ASX:BHP) applied to the UK's Financial Conduct Authority (FCA) and the London Stock Exchange (LSE) to list about 5.2 million ordinary shares on the LSE, according to a Thursday filing with the LSE.
Australia's benchmark index fell 0.4%, or 30 points, to close at 7,969 on Thursday.
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