Trump imposes tariffs up to 40% on 14 countries, pressuring allies to shift production to the US and avoid ties with BRICS. Tensions mount globally.

The 25 percent fee will go into effect on August 1st, which is when the Trump administration will also impose sweeping tariffs on countries that don’t reach US trade deals.

In health care, Telix Pharmaceuticals was up 6.6 per cent after its prostate cancer imaging agent was granted a permanent insurance code by the US Medicare and Medicaid system. The Australian dollar was buying 65.20 US cents, from 65.43 US cents at close of business on Tuesday.