ASX to rise, Nvidia rallies as quarter results awaited

Australian shares futures reversed early double-digit gains, following moves in New York, after US President Donald Trump made clear he plans to announce 25 per cent tariffs on exports from the European Union. Speaking during his first cabinet meeting, the US president said: "The European Union was formed in order to screw the United States, that's the purpose of it. And they've done a good job of it. But now I'm president." The president said the EU had "taken advantage" of the US, adding that his administration planned to impose tariffs on the bloc "very soon". "It will be 25…