The ASX 200 opened little changed around 8,802 on Wednesday, pausing after two straight sessions of losses, as investors weighed latest global trade developments. US President Donald Trump urged the European Union to impose 100% tariffs on Chinese and Indian goods in a bid to increase pressure on Russia. Washington signaled it was prepared to mirror such measures, raising the prospect of steep duties on Chinese and Indian imports. Meanwhile, the US Supreme Court agreed to fast-track a legal challenge to Trump’s tariffs, with oral arguments set for early November. Traders also remained cautious ahead of key data from top trading partner China, with August CPI and PPI due later today amid lingering deflation risks. On the corporate side, major banks outperformed, rising 1.3% as markets priced in an 86% chance of an RBA rate cut in November, while rates are expected to be held steady this month. Conversely, miners and gold stocks declined likely on profit-taking.