Australian equities are poised to open lower on Wednesday, tracking Wall Street, amid worries over the uncertainty surrounding tariffs.

US President Donald Trump said he would increase tariffs on steel and aluminum imports from Canada to 50%, effective March 12. However, both countries agreed to negotiate later.

In other news, peace talks between US and Ukraine representatives in Saudi Arabia led to a 30-day ceasefire agreement in Ukraine's conflict with Russia.

The Nasdaq Composite dropped 0.2%, the S&P 500 lost 0.8%, and the Dow Jones Industrial Average ended 1.1% lower.

In corporate news, Pantoro (ASX:PNR) reported Tuesday attributable earnings per diluted share of AU$0.001 in the fiscal first half, compared with a loss of AU$0.0031 per diluted share a year earlier.

Black Cat Syndicate (ASX:BC8) reported Wednesday that its loss per diluted share widened to AU$0.021 in the fiscal first half from AU$0.006 a year earlier.

Australia's benchmark index fell 0.9% Tuesday to close at 7,890.10.