Sharemarket to lift; Trump hikes steel tariffs; Washington, Beijing trade tensions in focus

The Australian sharemarket will start the month on a positive note after US President Donald Trump indicated he would initiate talks with Chinese counterpart Xi Jinping amid escalating trade tensions between Beijing and Washington. ASX 200 futures are pointing up 0.1 per cent, or 8 points, to 8465, predicting the index will extend gains into a third session. The American president bounced back from a court ruling last week that tried to put a brake on his global trade war, launching a fresh attack on Beijing's trade agenda. Trump wrote in a social media post that China had "totally violated"…