Company Interview / Market Update | Tariffs, copper, pharma, GQG Partners, Lifestyle Communities

U.S. President Donald Trump has flagged a 50% tariff on imported copper followed by levies on semiconductors, and up to 200% tariffs pharmaceuticals - one of Australia biggest exports into the US. On ABC Radio - Treasurer Jim Chalmers said these were "very concerning developments" - and added Australia will seek further clarification with the US. It comes a day after Donald Trump threatened 14 trading partners, including major exporters Japan and South Korea, with sharply higher tariffs. And the US President reiterated his threat of 10% tariffs on products from Brazil, India and other members of the BRICS group of countries. He also said trade talks have been going well with the European Union and China, but says he's still ready to slap heftier tariffs on EU exports. Looking at copper stocks...major exporters like BHP and Rio are set to be affected by this 50% levy on copper due later this month or on August 1st. And Copper futures in New York surged up to 17 per cent after the announcement. Also now looking at pharmaceuticals exporters...with vaccines being Australia's fifth largest export into the US... US President Donald Trump has said he would give pharmaceuticals producers one year to "get their act together.”

GQG Partners (ASX: GQG) recorded $172.4 million in Funds Under Management as of the end on June, a 0.7% monthly increase and up 8% year on year. GQG says it has continued to position its portfolio defensively over the June quarter - leading to underperformance compared to respective benchmarks. GQG Partners still reaffirmed its defensive strategy - calling the June results a "short-term" underperformance.

Elsewhere - Lifestyle communities (ASX: LIC) has confirmed its intent to appeal a Victorian tribunal ruling that the company unfairly charged residents exit fees. In a trading update, Lifestyle communities also flagged subdued quarterly sales, down year-on-year, as well as from the previous quarter.