European stocks set to open lower after US and China take tough trade stances

U.S. President Donald Trump on Tuesday defended the use of tariffs as part of his trade strategy, while China vowed a tough response if Washington insists on escalating trade tensions as the world's two largest economies attempt to negotiate a deal.

Asian stocks slid Wednesday after Wall Street ended a 6-day winning streak overnight, with China's consumer price index rising 2.7% year-on-year. Hong Kong'sled losses with a 1.59% drop by the afternoon as protests continued over the contentious Chinese extradition law. Back in Europe, Reuters reported Tuesday that euro zone deputy finance ministers supported the European Commission's view that disciplinary action is warranted against Italy over the country's rising debt.

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European stocks set to open mixed after US renews China tariff threatEuropean stocks were set for a mixed open Tuesday after U.S. President Donald Trump told CNBC that immediate tariffs would be imposed on a further $300 billion of Chinese goods if President Xi does not attend this month's G-20 meeting. cheat
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