US Deputy Commerce Secretary Graves: Clear US response on China tariffs is coming soon – Bloomberg

Market news

28 June 2022

US Deputy Commerce Secretary Graves: Clear US response on China tariffs is coming soon – Bloomberg

“A clear US response on China tariffs is coming soon,” said US Deputy Commerce Secretary Don Graves in a Bloomberg TV interview.

The diplomat also mentioned that the US will take a balanced approach on China tariffs, per the news.

Additional comments

Expect Congress to pass competition bill in next weeks.

Export restrictions are having a significant impact on Russia.

Market reactions

The news fails to gain any major reaction from the traders even if the S&P 500 Futures pare recent losses around 3,830, up 0.10% intraday, during the initial hour of Wednesday’s trading.

Also read: Forex Today: Inflation and recession fears continue to drive financial markets

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