Australian shares tumble after Trump tariffs
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More news: Shares in healthcare equipment manufacturer Ansell and auto parts retailer ARB Corporation both plummeted amid a broad selloff on the ASX, as investors weighed the impacts of new US tariffs on Australian stocks.
Ansell was the worst performing ASX 200 company at 2:45pm AEDT, tumbling 14.8% to $29.19. UBS analysts said the company could be the most impacted healthcare company across its coverage.
Ansell was benefitting from tariffs on Chinese gloves, they noted, which drove up prices for its competitors. However, new 24% US tariffs on Malaysian imports would affect the 46% of its goods sold to North America, possibly adding 11% to the cost of goods and posing a "substantial double digit impact" to near term profit.
Meanwhile, ARB shares were down 6.9% to $29.68. Citi analysts said they see increasing risk to ARB's US earnings from the 2026 financial year. The previously announced 25% US tariffs on cars and car parts, which take effect today, could have implications for sales as some of ARB's key vehicle models are manufactured outside the US, they said.
The analysts also noted that today's announcement included a 36% reciprocal tariff on Thailand, one of the countries that ARB uses to source its US products.
Elsewhere, Lovisa shares fell 4.6% to $22.79. Citi called the new tariffs "another headwind" for the jewellery retailer. 22% of Lovisa's stores were located in the US during the first-half of the year and Citi's analysts said the company may see tariff-driven inflation weigh on sales in the US.
They added that gross margins may be at risk, given Lovisa sources most of its products from China, India and Thailand, which were hit with fresh tariffs of 34%, 26% and 36% respectively.
Cettire dives 11% as ASX-listed companies grapple with new US tariffs
More news: Shares in Fisher & Paykel, Cochlear, Treasury Wine Estates and Cettire all dropped in early trade after each company issued a response to new US tariffs announced this morning.
Pharmaceutical giant Fisher & Paykel had fallen 2% to $30.86 at 10:35am AEDT, saying 10% tariffs on New Zealand exports to the US would increase costs in the 2026 financial year.
Winemaker Treasury Wine lowered 3.2% to $8.81 despite claiming the new tariffs would have a "minimal impact" on its bottom line.
Luxury fashion platform Cettire plunged 11.3% to 70.5 cents after the company noted that 41% of its first-half gross sales related to goods manufactured in the EU and sold to customers in the US. The company noted that shipments below US$800 ($1,276) will be exempt from the new changes, with its average first-half order value totalling US$514.
Hearing implant maker Cochlear was down 3.4% to $258.77 as it awaits clarification on the application of new US tariffs. The company said "there are complexities in understanding the application of the new tariff", having long imported its products under the 'Harmonized Tariff Schedule of the Unites States' that provides for duty-free importation on a range of products into the US, including hearing implants.
The ASX 200 index was down 2.1%, with some sectors losing as much as 3%.
Australian shares tumble after Trump tariffs
The news: The Australian sharemarket sank in early trading as investors reacted negatively to sweeping global tariffs announced by US President Donald Trump.
The numbers: The benchmark S&P/ASX 200 index was down 150.20 points or 1.9% to 7,784.30 within the first few minutes of trade, with each of the 11 sectoral indices trading lower.
The context: Financials, mining, consumer and real estate stocks bore the brunt of the losses. Each of the Big Four banks were down more than 2%, with ANZ dropping 3.3% after APRA imposed an additional $250 million capital add-on over ongoing weaknesses in its non-financial risk management practices.
BHP, Rio Tinto and Fortescue Metals Group were all down nearly 3% each, while protective equipment manufacturer Ansell slumped nearly 11%. Home appliances maker Breville, which is exposed to risks from the US tariffs, was down nearly 8%.
The local declines mirror a slide in US stock futures in post-market trading after Trump announced reciprocal tariffs on countries across the world. He imposed a 10% baseline tariff on all imports and sharply higher rates for key countries like China and Vietnam. The US will impose 10% tariffs on Australia, with Trump singling out Australian beef exports while announcing the tariffs, saying Australia "won’t take any of our beef".
The broad-based tariff announcements have raised fears of a global trade war that could spark a global economic slowdown and spur inflation.
The sources: ASX, Citi research, RBC Capital Markets research, UBS research
