Dec 4 (Reuters) - Australian shares are set to open lower on Wednesday, extending losses amid concerns a deal to end the U.S.-China trade war might not come until after the November 2020 U.S. elections. The local share price index futures fell 0.8%, a 68.3-point discount to the underlying S&P/ASX 200 index close. The benchmark on Tuesday fell 2.2%, posting its biggest daily drop in two months after U.S. President Donald Trump restored tariffs on imports from Brazil and Argentina. New Zealand's benchmark S&P/NZX 50 index fell 0.3% in early trade. (Reporting by Aby Jose Koilparambil in Bengaluru Editing by Chris Reese)
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