Wednesday 9th July 2025

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President Trump has made more proclamations, including a 50 percent tariff on copper imports. A deal is supposedly progressing with the EU, which could see trade in aircraft and parts exempt and a reduction for some car manufacturers. If the deal falls through there’s a threat that Europe’s 20% base tariff will rise to 50%. Markets have responded cautiously, perhaps too cautiously suggests NAB’s Skye Masters, who says it’ll also be interesting to see how a 10-year Treasury auction is received tonight. Phil also asks her about why the RBA decision yesterday was such a surprise.

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