European markets seen lower amid fresh US trade tariff threat

European markets are set to open lower Monday morning, amid renewed fears over an escalating trade war between the world’s two largest economies.

The FTSE 100 is seen 14 points lower at 7,290, the CAC is expected to open down around 9 points at 5,341, while the DAX is poised to start down around 35 points at 12,089, according to IG.

Market focus is largely attuned to global trade developments, after Reuters reported President Donald Trump is likely announce new tariffs on $200 billion worth of Chinese imports as early as Monday.

The tariff level is expected to be around 10 percent, according to the Wall Street Journal, far below the 25 percent the White House had said it was considering.

The U.S. newspaper also suggested Beijing could cancel proposed trade talks with Washington, if the Trump administration moves ahead with fresh charges.

Back in Europe, the euro area is scheduled to publish a final reading of inflation data for August at around 10:00 a.m. London time.

Meanwhile, the International Monetary Fund (IMF) is due to publish its annual review of the British economy during mid-morning deals.

Source: CNBC