Massive losses on the Australian stock market on Monday have started to unwind after trade tensions between the US and its neighbours eased overnight.
President Donald Trump has agreed to hold off the start of punishing 25 per cent tariffs on all imports from Canada and Mexico after striking deals with the leaders of both countries to shore up security along the US borders.
A 10 per cent tariff on good from China remains in place.
Wall Street trimmed an early 2 per cent loss as news of the deal with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum broke.
The claw-back buoyed Aussie investors, who ran the ASX200 up 0.7 per cent after the first 30 minutes of trade in Tuesday after a 1.8 per cent rout in the previous session.
All sectors were back in the green, led by utilities, miners, real estate, financial and health care stocks.
Iron ore majors BHP added almost one per cent but Fortescue and Rio Tinto recorded gains of more than 1.7 per cent.
More to come
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