Kremlin Says New EU Sanctions Won’t Hurt Russian Banks 
China Inflation Misses Forecast as Consumer Spending Stays Weak, Producer Prices Surge 
Japan Wholesale Inflation Accelerates to 6.3% in May, Exceeding Forecasts 
Gold Prices Drop as Strong Dollar, Rising U.S.-Iran Tensions Weigh on Market Sentiment 
Oil Prices Surge Above $93 as Trump Escalates Iran Pressure and Strait of Hormuz Tensions Deepen 
New Zealand Unemployment and Inflation Debate Intensifies Ahead of 2026 Election 
Australian Consumer Sentiment Drops in June as Financial Concerns Weigh on Households 
China Trade Surplus Surges in May 2026 as Exports and AI-Driven Imports Accelerate 
BOJ Rate Hike Expectations Rise as Weak Yen and Strong U.S. Jobs Data Increase Pressure 
Gordie Howe International Bridge Set to Open, Boosting U.S.-Canada Trade Links 
European Stocks Rise Ahead of ECB Rate Decision as Investors Buy the Dip 
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).
