With the fresh doubts over the US-China trade truce taking over the markets off-late, Reuters came out with the news report spotting the US Commerce Department saying that it will instruct the Customs and Border Protection to collect cash deposits from importers of structural steel imports from China and Mexico.
The news report says that the US Commerce Department mentioned on Monday that domestic producers were being harmed by imports of fabricated structural steel from China and Mexico while it had found that imports from Canada were not being unfairly subsidized.
It was further mentioned in the news report that the Department is expected to make its final ruling on the imports around Nov. 19, 2019.
FX implications:
Even if the news had a little immediate impact on the markets, it could weigh over the investor sentiment amid growing doubts for the US-China trade tussle that has negatively affected the global economy and acquired the ire from major central bankers. The same could weaken the US Dollar (USD) optimism and might as well push the Fed policymakers to remain on a back foot during their much-awaited appearances later this week.
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