The S&P/ASX 200 opened flat to around 8,600 on Monday, halting gains from the previous session, as investors braced for a widely expected rate cut by the Reserve Bank of Australia and looming US tariff deadlines. Market expectations are mounting that the RBA will continue easing monetary policy, with now a 99.7% probability priced in for a 25bps cut on Tuesday - its third cut this year. That would bring the official cash rate down to 3.6%, in response to easing inflation risks and a weakening economic growth. Meanwhile, President Trump confirmed new tariffs will take effect on August 1, with final rates still under negotiation. Treasury Secretary Bessent said countries without trade deals by then will face tariff levels reverting to those set on April 2. Among notable movers, export-reliant healthcare stocks jumped over 1%, led by biotech giant CSL (1.2%). On the flip side, Woodside dropped 0.9% as OPEC+ signaled higher August output, raising supply concerns that could pressure prices.