Australian Shares Edge Down

The S&P/ASX 200 edged lower by 0.1% to 8,572 on Monday, as investors turned cautious after fresh tariff threats from US President Donald Trump reignited fears of a potential global trade war.

Trump announced a 30% tariff on goods from the European Union and Mexico starting August 1, while also warning of additional levies on other nations and urging trade partners to return to the negotiating table.

In a similar development, Trump proposed a steep 200% tariff on Australian pharmaceuticals, rattling Australian industry and government officials, as the measure could cost the Australian economy up to A$2.8 billion if enforced.

Among the day's notable declines were Block, Inc. (-5.1%), Amcor PLC (-1.5%), and ResMed, Inc. (-1.3%).

Elsewhere, major banks and retail heavyweights will be in the spotlight after reportedly agreeing to contribute AU$25 million to extend the operations of cash transportation firm Armaguard through December.