Wall Street sell-off set to drag ASX lower amid Trump tariffs

The news: The Australian sharemarket is set to open slightly lower, in line with losses on Wall Street as investors weigh US President Donald Trump's latest trade tariff announcements.

The numbers: Updated at 7.25am AEDT:

• ASX futures: down 8 points or 0.10% at 8,006 points
• Wall Street: Dow Jones down 0.37%, S&P 500 down 0.33%, Nasdaq down 0.53%
• Europe: FTSE 100 down 0.27%, CAC 40 down 0.51%, DAX down 0.70%
• Spot gold: up 1.23% to USD3,056.38 per ounce
• Oil prices: Brent up 0.24% to USD73.97/bbl, US WTI up 0.26% to USD69.83/bbl
• AUD: up 0.06% at 63.06 US cents
• Bitcoin: up 0.36% to USD87,234.60.

The context: Major US stock indices ended lower after Trump unveiled a 25% tariff on imported cars and light trucks effective 3 April and a duty on auto parts from 3 May, dragging down shares of General Motors and Ford. He is set to announce another wave of reciprocal tariffs next week. Trump's mercurial trade policies have created uncertainty on Wall Street, as investors fret over potential disruptions to supply chains, hampered investment, and the spectre of inflation threatening global economic growth. Meanwhile, investors will be focused on the February personal consumption expenditures price index — the Federal Reserve's favoured inflation gauge on Saturday AEDT.

What to watch: Prime Minister Anthony Albanese is expected to call the federal election this morning.