ASX Market Update: Trump’s tariff promise pushes Aussie market down again | March 4, 2025

After yesterday’s rebound, the ASX 200 has slumped again through Tuesday, dropping by one percent (1.01%) to 8,162 points.

This came after Trump confirmed he would be moving forward with 25% tariffs on goods from Mexico and Canada, plus an additional 10% tariff against Chinese goods coming into the U.S. Wall Street fell back overnight as Trump reiterated also there would be “no room” for negotiation on this issue.

All 11 ASX sectors have been in the red today, led by Energy, down 2.92%, Utilities, down 2.62% and Materials, down 1.38%.

Zip Co Ltd (ASX:ZIP) has today fallen 9.75% a day after announcing a partnership with New York-listed GameStop which will see it become the latter’s primary pay-in-instalments service for online and in-store customers in the U.S.

Shares in Zip Co have been $2.18 cents today.

Mineral Resources (ASX:MIN) has dropped 9.86% after investment company BlackRock Group today ceased to be a substantial holder.

Min Res shares last traded at $21.57.

And, integrated transport provider and tourism company Kelsian Group Ltd (ASX:KLS) has been up 2.7%, despite having no news this Tuesday.

KLS shares were last $3.42.

Join the discussion: See what’s trending right now on Australia’s largest stock forum and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.