Asia stocks set to slip as fresh trade concerns ramp up over EU tariffs

Worries over global trade tensions continue to weigh on investor sentiment. The U.S. is set to impose tariffs on European Union goods on October 18.

Markets across the globe have also been rattled in the last few sessions as worries grow over the prospect of an economic slowdown in the U.S.Stocks in Asia were set to trade lower Thursday on fresh trade concerns, with the U.S. announcing it's set to slap tariffs on European Union goods. Futures pointed to a lower open for Japanese shares, with the Nikkei futures contract in Chicago at 21,440 and its counterpart in Osaka at 21,370. TheStocks in Australia were also set to slip at the open. The SPI futures contract was at 6,493.0, as compared to the

last close at 6,639.90. Investors will watch out for Australian trade data in August, set to be released at around 9:30 a.m. HK/SIN.Meanwhile, a new battle on the trade front could rattle markets again, as the Office of the U.S. Trade Representative said it will impose. That comes on top of the ongoing trade war between Beijing and Washington, with Chinese and U.S. officials scheduled to meet in Washington next week.

Worries have also grown over the prospect of an economic slowdown in the U.S. Manufacturing activity in the U.S. contracted to its

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