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Asia stocks set to decline as US-China trade war heats up

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China announced on Monday that it will raise tariffs on $60 billion worth of U.S. goods, beginning on June 1. The latest development from Beijing comes after U.S. President Donald Trump hiked tariffs on Chinese goods last week.

Shares in Asia were set to decline on Tuesday as tensions between the United States and China intensified after Beijing decided to raise tariffs on some American goods.China announced on Monday that it will raise tariffs on $60 billion worth of U.S. goods, beginning on June 1.

The latest development from Beijing comes after U.S. President Donald Trump hiked tariffs on Chinese goods last week. Shares in Asia were set to decline on Tuesday as tensions between the United States and China intensified after Beijing decided to raise tariffs on some American goods.in Japan. The Nikkei futures contract in Chicago was at 20,830, as compared to the benchmark index's last close at 21,191.28.

Shares in Australia were also set to see declines, with the SPI futures contract at 6,243.0. The benchmark

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