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AAP
AAP
Business
Derek Rose

Australian shares give up gains as Trump tariffs start

United States Donald Trump Chris Weston Kyle Rodda Mexico Canada
The Australian share market has bounced back from sharp losses prompted by fears of a trade war. (Bianca De Marchi/AAP PHOTOS)

A relief rally for the local sharemarket has fizzled out after US tariffs took effect on China in what Donald Trump described as an "opening salvo" against Australia's biggest trading partner.

The benchmark S&P/ASX200 index swung slightly into the red in the final minutes of trade on Tuesday, finishing down 5.4 points, or 0.06 per cent, to 8,374.

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