August 1, 2019 / 10:19 PM / 4 months ago

Australia shares set to open lower after Trump tariff threat, NZ slips

    Aug 2 (Reuters) - Australian shares are set to open lower on
Friday after U.S. President Donald Trump said he would impose
additional tariffs on Chinese imports next month, stoking
worries about further escalation of a trade war.
    Trump in a tweet said he would impose a 10% tariff on a
remaining $300 billion list of Chinese imports starting Sept. 1,
which rattled markets and drove U.S. stocks lower.             
    China is Australia's largest trading partner and disruptions
to the Chinese economy are likely to spill over into the region
as well.
    The local share price index futures          fell 0.2% or 15
points by 2209 GMT, a 76.9-point discount to the underlying
S&P/ASX 200 index         close. The benchmark fell 0.4% on
    New Zealand's benchmark S&P/NZX 50 index         fell 0.2%
to 10,841.71 in early trade.

 (Reporting by Rashmi Ashok in Bengaluru
Editing by Chris Reese)
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