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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: Storry 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 sents, 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 lader Peter

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

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Speaker 1: dollar towards a new national agricultural and mining program is selected,

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Speaker 1: of course, a straight um before the supermarket wars are

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Speaker 1: getting very interesting. Earlier this week we heard Woolies has

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Speaker 1: reduced prices more than Coals, but now a report from

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Speaker 1: Investment Bank UBS says Coals has become a shoppers main serpermarket.

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Speaker 1: UBS surveyed one thousand people in thirty eight percent described

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Speaker 1: Coals as their primary supermarket, while Woolworth's was at thirty

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Speaker 1: seven percent. It's the first time that Coals is above

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Speaker 1: Woolworth's in the survey. The analysts say that forty four

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Speaker 1: percent of shoppers described Woolies as their main supermarket before

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Speaker 1: COVID nineteen. Now it's thirty seven percent. Now it is

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Speaker 1: a bit anecdotal in terms of sales, Woolies is still

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Speaker 1: well ahead of Coals without the distant third, but it

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Speaker 1: does highlight that trend away from Woolies towards Coals and

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Speaker 1: story number five. Job vacancies in Australia fell by four

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Speaker 1: and a half percent in February to three hundred and

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Speaker 1: twenty nine thousand. The four reversed the recent rise in

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Speaker 1: vacancies and is more consistent with a softening labor market.

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Speaker 1: The Bureau Statistics said the number of job vacancies is

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Speaker 1: down nearly ten percent from a year ago. In fact,

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Speaker 1: there are about one hundred and forty six thousand fewer

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Speaker 1: job vacancies than the peak back in May twenty twenty two. However,

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Speaker 1: vacancies remain sharply higher than pre COVID. That's it for

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Speaker 1: the afternoon Report for Thursday, the third of April twenty

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Speaker 1: twenty five. Make sure you hit follow on the podcast.

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Speaker 1: We'll be back tomorrow morning with the Friday edition off

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Speaker 1: Your and Greed business news. I'm Seane Elmer. Enjoy your

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Speaker 1: evening