Australian shares are expected to open higher Thursday, but trading will likely be volatile as investors absorb the Trump administration's global tariffs.

The international trade goods and job vacancy reports for February will be released at 11:30 am Sydney time.

The S&P Global Composite Output Index rose to 51.6 in March from 50.6 in February, data showed Thursday.

Investors are all eyes as US President Donald Trump bared a 10% tariff on imported Australian goods in a sweeping move to address what he calls unfair trade practices against American companies. Trump singled out Australian beef during his announcement in reference to Australia's years-long ban on American beef due to the mad cow disease outbreak.

Meanwhile, the Albanese government said there would be no reciprocal tariffs from Australia but called out US tariffs for having "no basis in logic."

Wall Street finished higher overnight before Trump's announcement, but stock futures were down in after-hours trading in the wake of the new tariffs.

In corporate news, Fisher & Paykel Healthcare (ASX:FPH, NZE:FPH) said the 10% US tariffs on products manufactured in New Zealand will not significantly impact its fiscal 2025 net profit but are expected to drive higher costs in fiscal 2026, according to a Thursday filing with the Australian and New Zealand bourses.

Elsewhere, News Corp (ASX:NWS) completed the sale of its sports and entertainment content streaming unit, Foxtel Group, to DAZN after receiving approval from the Foreign Investment Review Board and other regulatory authorities, according to a Wednesday filing with the Australian bourse.

Australia's benchmark index was little changed at 7,934.50 on Wednesday.