Australian equities are poised to open lower on Monday as investors remain cautious of US President Donald Trump's plans for reciprocal tariffs.

Trump did not specify which countries would he target with new tariffs but suggested it would be a broad effort that may help solve US budget issues.

"I'll be announcing that, next week, reciprocal trade, so that we're treated evenly with other countries, we don't want any more, any less," Trump said.

Nasdaq Composite closed down 1.4%, the S&P 500 dropped 0.95%, and the Dow Jones Industrial Average dropped 1%.

On the local economic front, building permits private house approval data and business turnover report is due for release at 11:30 am Sydney time.

In corporate news, CAR Group (ASX:CAR) reported fiscal half-year earnings of AU$0.327 per diluted share, up from AU$0.31 per diluted share a year earlier.

JB Hi-Fi (ASX:JBH) reported that its earnings per diluted share in the fiscal first half rose to AU$2.60, from AU$2.41 per diluted share a year earlier.

Australia's benchmark index dropped 0.11%, or 9.30 points, on Feb. 7 to close at 8,511.40.