Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
U.S. trade action against Chinese products continue.
The U.S. Commerce Department has initiated an AD (Anti-Dumping Duty)/CVD (Countervailing Duty) on imports of Certain Steel Wheels from China. These AD and CVD investigations were initiated based on petitions filed by Accuride Corporation (Evansville, IN) and Maxion Wheels Akron LLC (Akron, OH) on March 27, 2018. The petitioners alleged the dumping margins to the tune of 12.1-231.7 percent. They also alleged the existence of 56 subsidy programs.
The U.S. Commerce Secretary Wilbur Ross was quoted saying, “When a trade case is initiated it begins an open and transparent process that allows American companies, workers, and communities to gain relief from the market-distorting effects of injurious dumping and subsidization of imports……The Department will act swiftly, while completing a full and fair assessment of the facts, to ensure that U.S. businesses and workers have a fair chance to compete.”
In 2017, imports of certain steel wheels from China were valued at an estimated $388 million.
Preliminary determination on the petition will be made on June 20th (CVD) and September 4th (AD).
