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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Thursday, the third of April twenty twenty five. I'm

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Speaker 1: Sean Aylmer. Every afternoon, we've got the fire stories that

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Speaker 1: happened today that you need to know about. Sorry. Number one,

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Speaker 1: Donald Trump this morning announceday broader ranging ten percent tariff

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Speaker 1: on all imports into the US, including Australian goods. Some

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Speaker 1: nations with a large trade surplus with the US face

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Speaker 1: much much higher tariffs. In fact, by the end of

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Speaker 1: it all, China's effective tariff rate is now fifty four percent.

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Speaker 1: There is regal room. These tariffs will remain in effect

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Speaker 1: until such a time as President Trump determines that the

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Speaker 1: threat posed by the trade deficit and underlying non reciprocal

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Speaker 1: treatment is satisfied, resolved, or mitigated, so negotiations are about

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Speaker 1: to commence. Announced Thump the local chair market, with the

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Speaker 1: SMPASX two hundred closing down almost one percent to eight

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Speaker 1: hundred and sixty points. It had been off a couple

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Speaker 1: of percent earlier in the day. Worst among the stocks

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Speaker 1: tech stocks, energy companies, materials, property groups, best consumer staples.

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Speaker 1: Story number two riskier assets have been sold off from

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Speaker 1: the back of the tariff announcement, Bitcoin fell sharply. It's

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Speaker 1: now fetching eighty two thousand US dollars a unit. The

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Speaker 1: Aussie dollar had a tough time of it, fell towards

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Speaker 1: sixty two US cents, though has recovered somewhat to be

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Speaker 1: trading just above sixty two and a half US cents.

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Speaker 1: Oil tumbled on fears of a global recession, while gold,

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Speaker 1: which is considered a safe haven, hit a new record

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Speaker 1: high today of three thousand, one hundred and sixty four

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Speaker 1: US dollars and ounce sorry number three. Two. Federal leaders

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Speaker 1: Anthony Albinizi and Peter Dunn will face off in a

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Speaker 1: second debate on the ABC on April sixteen now. The

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Speaker 1: first is on Sky News and The Daily Telegraph next week.

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Speaker 1: It's the first time the leader's debate has taken place

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Speaker 1: in the ABC since nineteen ninety three, and it will

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Speaker 1: be hosted by Insiders, presented David Spears. Opposition leader Peter

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Speaker 1: Dutt was in Perth campaigning today, promising six hundred million

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Speaker 1: dollars towards a new national agricultural and Mining pro is selected,

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Speaker 1: of course straight Numberfore, the supermarket wars are getting very interesting.

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Speaker 1: Earlier this week we heard Woolies has reduced prices more

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Speaker 1: than Coal's, but now a report from Investment Bank UBS

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Speaker 1: says Coals has become shoppers main supermarket. UBS surveyed one

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Speaker 1: thousand people in thirty eight percent described Coals as their

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Speaker 1: primary supermarket, while Woolworths was at thirty seven percent. It's

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Speaker 1: the first time that Coals is above Woolworths in the survey.

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Speaker 1: The analysts say that forty four percent of shoppers described

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Speaker 1: Woolies as their main supermarket before COVID nineteen. Now it's

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Speaker 1: thirty seven percent. Now it is a bit anecdotal in

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Speaker 1: terms of sales, Woolies is still well ahead of Coals

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Speaker 1: without the distant third, but it does highlight that trend

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Speaker 1: away from Woolies towards Coals and story number five. Job

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Speaker 1: vacancies in Australia fell by four and a half percent

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Speaker 1: in February to three hundred and twenty nine thousand. The

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Speaker 1: four reversed the recent rise in vacancies and is more

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Speaker 1: consistent with a softening labor market. The Bureau Statistics said

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Speaker 1: the number of job vacancies is down nearly ten percent

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Speaker 1: from a year ago. In fact, there are about one

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Speaker 1: hundred and forty six thousand fewer job vacancies than the

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Speaker 1: peak back in May twenty twenty two. However, vacancies remain

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Speaker 1: sharply higher than pre COVID as ever. The Afternoon Report

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Speaker 1: for Thursday, the third of April twenty twenty five. Make

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Speaker 1: sure you hit follow on the podcast. We'll be back

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Speaker 1: tomorrow morning with the Friday edition of the Fast five

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Speaker 1: Business News by Fear and Greed. I'm Sean Elmer. Enjoy

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Speaker 1: your evening