Global markets were mostly lower Monday following reports that President Donald Trump will place tariffs on $200 billion more in Chinese goods, despite a possible meeting to iron out tensions between the world’s two largest economies.
KEEPING SCORE: In Europe, France’s CAC 40 fell 0.4 percent to 5,331.94 while the DAX in Germany dropped 0.5 percent to 12,062.13. Britain’s FTSE 100 declined 0.3 percent to 7,283.65. Wall Street was set for a muted open. Dow futures fell less than 0.1 percent to 26,178.00. S&P 500 futures shed 0.1 percent to 2,910.00.
ASIA’S DAY: South Korea’s Kospi fell 0.7 percent to 2,303.01 and Hong Kong’s Hang Seng index tumbled 1.3 percent to 26,932.85. The Shanghai Composite index lost 1.1 percent to 2,651.79. But Australia’s S&P/ASX 200 rose 0.3 percent to 6,185.00. Japanese markets were closed for a national holiday. Stocks fell in Taiwan and most of Southeast Asia.
US-CHINA TRADE: The Wall Street Journal reported over the weekend that Trump was going ahead with plans to impose new tariffs on about $200 billion of Chinese imports. The report cited unnamed people familiar with the matter who said the tariff level will likely be set at about 10 percent, below the 25 percent announced earlier this year. At the same time, U.S. officials, led by Treasury Secretary Steven Mnuchin, are preparing to hold new talks on the tariff dispute with Beijing. Envoys met last month in Washington but reported no progress. The two governments have already imposed 25 percent tariffs on $50 billion of each other’s goods. Beijing has issued a list of another $60…
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