A rally on Wall Street is likely to send Australian stocks higher, while the Bureau of Statistics is set to release the monthly consumer price index figures at 11:30am AEDT.
US short-term interest-rate futures pared earlier losses after the Fed's latest minutes showed officials appeared divided over how much further they may need to cut interest rates. Trump said he would impose a 25% conditional tariff on Canadian and Mexican imports that could violate a free-trade deal he negotiated during his previous term.
Automakers Ford and General Motors - which have highly integrated supply chains across Mexico, the US and Canada - lost 2.2% and 8.3%, respectively.
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