Australian news and politics recap: February 10, 2025

The Australian share market has fallen after US President Donald Trump fired another salvo in his budding trade war, although the losses have moderated as trading continues.

At noon AEDT, the benchmark S&P/ASX200 index was down 21.2 points, or 0.25 per cent, to 8,490.2, while the broader All Ordinaries was down 22.2 points, or 0.25 per cent, the 8,759.9.

The ASX200 was down by as many as 66 points, or 0.78 per cent, in the first few minutes of trading, after President Trump told reporters he would impose 25 per cent tariffs on all steel and aluminium imports to the United States.

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A dangerous thunderstorm has swept across Sydney, bringing intense rainfall.

A severe weather watch and act warning is in place with locals warned the rainfall may lead to dangerous and life-threatening flash flooding.

Woolworths has ordered 10,000 of its workers to return to the office.

In a letter to staff outlining the directive, Woolworths Group CEO Amanda Bardwell said workers would be expected to “connect with their team in the office a minimum of three days per week, with the flexibility to work remotely for the remaining two days”.

In a staged roll out of expectations, from June 2 all team members must spend at least one in-person day per week in the office, by August 4 two days and by October 6 three days.

“A key priority for us in 2025 is to create more opportunities for in person connection to increase our responsiveness and better serve our customers. To support this, we are evolving our hybrid ways of working to ensure we better balance the needs of our customers and business, with the needs of our team,” she wrote.

The board of WiseTech Global has confirmed it is investigating two new complaints lodged against its founder and former chief executive Richard White.

It comes just months after an independent review launched by the logistics software giant cleared the billionaire of bombshell allegations made against him, including bullying and undisclosed workplace relationships.

WiseTech on Monday said the latest complaints came from a staff member and a supplier to the company, but it did not disclose the nature of any allegations.

“These are being considered in the ongoing board review,” it said.

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Donald Trump has marked his renaming of the Gulf of Mexico to the Gulf of America as he flew over the area on his way to the Super Bowl.

The Lord Mayor of London who represents Britain’s Square Mile says the UK needs to deepen economic links with China.

The UK is struggling to kickstart its anaemic economy and the new Labor government has rushed to Beijing to boost investment in London’s lucrative financial and professional services sector, which makes up 12 per cent of the UK’s entire economic output.

Speaking to The Nightly’s Latika M Bourke before touching down in Australia on his first-ever visit and on a week-long mission to boost economic ties with Australian pension funds and insurers, Alistair King said the City of London also wanted more, not less financial ties with China.

“We cannot hope to be the global financial centre that we are if we are not doing business with the second-largest economy in the world,” he said in an interview at his office at Mansion House opposite the Bank of England.

“China has to play a part in any international financial centre such as London.”

Read the full story here.

Labor Ministers have gone on the offensive to try to play down a significant swing away from Labor in the Werribee by-election and its possible implications for the Federal election.

Only a few hundred votes separate Labor and Liberal candidates in the Victorian state seat as counting restarted after the weekend vote – a tight race that in itself is a poor outcome for the traditionally safe Labor electorate.

At 11am AEDT, the count stood at 49. 4 per cent for Liberal candidate Steve Murphy and 50.6 per cent for Labor candidate John Lister. That’s a 10.4 per cent swing away from Labor.

“This is a by-election for a State Government that’s into its second decade. It’s been a tough time in Victoria. As we all know, over the last several years, they had a very tough pandemic,” Health Minister Mark Butler told ABC Radio National Breakfast.

“It’s not surprising when you look at the sweep of history that a State Government in its second decade cops a big hit in a by-election,” he said. “These are state issues being played out down in Victoria.”

Mr Butler added he was “confident” that in a Federal election, voters would opt for “the very clear choice between the cuts they’ll see by Peter Dutton and the sort of measures to strengthen Medicare you saw us release yesterday,” referring to a new women’s healthcare package.

Finance Minister Katy Gallagher conceded that regardless of the state byelection, the Government knew the Federal election would be “really close.”

“We take nothing for granted, we’ve got to continue to talk and address people’s cost-of-living needs, which is what we’ve been doing over the last couple of years, and keep outlining our vision for the future which are things like investing in women’s health,” she told the Today program.

Donald Trump has become the first sitting US President to attend the Super Bowl, shaking hands with players and waving to the crowd.

Political custom has dictated a President does not attend the event, mainly due the security arrangements required, but as we all all know Trump does things a little differently and loves soaking up the popular culture limelight.

Stay across everything Super Bowl related with our live updates.

Health Minister Mark Butler says a $573.3 million funding boost for women’s health services including contraception and menopause therapies will reverse “decades of neglect”.

Plans to list several medications on the Pharmaceutical Benefits Scheme including combined oral contraceptive pills, Yaz and Yasmin, from March 1 — will save women hundreds of dollars who usually pay upwards of $350 each year.

“Women face a whole range of very significant costs, simply because they’re women around contraception during menopause and perimenopause,” Mr Butler told ABC Radio Breakfast.

The “significant” package will be outlined this week in two formal written responses to Senate inquiries on reproductive health and menopause, he said.

“It will really transform care around menopause and give women a whole range of choices and lower costs for their reproductive health, particularly in contraception.”

Finance Minister Katy Gallagher, who also serves as Minister for Women, said the pre-election offering would include better support for GPs to provide the needed consultations, particularly for IUDs.

“The whole package – because it covers UTIs and pharmacy and HRT and menopause assessments – is about making the cost cheaper. So, lower costs, more choices, and better services,” she told the Today program.

The Coalition on Sunday signalled it would support the proposal.

“Women’s health has always been a priority for the Federal Opposition, which is why in Government we launched the national Women’s Health Strategy 2020 – 2030 to improve long-term health outcomes for women and girls,” said shadow health minister Anne Ruston.

Donald Trump is set to impose a 25 per cent tariff on all imports of steel and aluminium on Monday US time.

Speaking to reporters on Air Force One as he flew to attend the Super Bowl, the President said the tariffs would apply to imports from all countries. He did not specify when the tariffs would come into effect.

Mr Trump also told reporters that he would announce reciprocal tariffs on those countries that tax US imports later in the week.

The new impost follows a 25 per cent tariff applied to all goods coming from Mexico and Canada, announced in the first days of the presidency. Those tariffs are currently under a 30-day stay, pending negotiations with those countries about their commitment to limiting illegal immigration and the drug trade.

A 10 per cent additional tariff on China will come into effect on the 10th of February, US time.

The imposition of tariffs is expected to hit growth across all jurisdictions, according to S&P Global, pushing up inflation along the way. In announcing its earnings today, Ansell, an Australian-listed manufacturer of healthcare supplies, said it intended to raise prices in the US to offset the tariff impact.

The Australian government had hoped the country would be spared the imposition of tariffs, citing the longstanding trade deficit with the US, but these latest comments from President Trump suggest that the administration favours universal tariffs rather than bilateral arrangements.

Australian company Bluescope, formerly a subsidiary of BHP, is the largest steel manufacturer in the US and could be a beneficiary of the tariff regime, allowing it to compete against Chinese imports.

US steelmakers have said that the renewed increase in imports has resulted in the worst year for profits and production since Trump’s first term in office.

Steel and aluminium tariffs were part of Mr Trump’s first administration, which placed a 25 per cent duty on steel and a 10 per cent duty on aluminium in 2018, citing national security concerns.

Australia was spared tariffs in that instance thanks following negotiations by then-ambassador Joe Hockey.

Shadow minister for trade and tourism Kevin Hogan said current ambassador Kevin Rudd has a”big job on this issue.”

“When we were in Government during President Trump’s first administration, there were the threats of tariffs on aluminium and steel. We were able to successfully have Australia exempted from these tariffs back then and the current Government must get the same result,” Mr Hogan said.

“Richard Marles was just in the US. He needs to answer was he aware about this and did he negotiate that Australia should be excluded from any tariffs and if not why not?”

“The aluminium and steel industry in Australia exports over $550 million and employs thousands across the country. It is a very important industry.”

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