May 14 (Reuters) - Australian shares were set to open lower on Tuesday as China retaliates with higher tariffs on a range of U.S. goods following Washington's decision last week to hike its own levies on $200 billion in Chinese imports.
As the trade war intensified, U.S. President Donald Trump said on Monday he would meet with Chinese President Xi Jinping next month and that he expected their discussions would be "very fruitful." local share price index futures YAPcm1 fell 0.9%, a 54.6 point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark edged 0.2% lower on Monday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 declined 0.7% in early trade.