Wall Street Ends Mixed as Dow Hits Record Despite Tech Weakness 
Oil Prices Surge as Iran Hormuz Restrictions Renew Supply Fears 
Gold Prices Surge 7% as Dollar Falls, Fed Rate Hike Bets Ease 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
Philippine GDP Growth Slows to 2.3% in Q2 
US Job Growth Seen Picking Up in July 
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
Asian Stocks Cautious Ahead of US Jobs Data as Oil Rises 
Back to back decisions are making it clearer that the Trump administration that the United States would no longer tolerate malpractices in trade. The latest actions by the U.S. Commerce Department takes on steel exporters from China and Mexico, over subsidies. The investigation into the imports of Fabricated Structural Steel (FSS) was initiated based on a petition filed by American Institute of Steel Construction Full Member Subgroup Chicago.
Last night, the Commerce Department announced its crackdown on certain steel products that are produced in China and Mexico and then exported to the United States as fabricated structural steel (FSS). According to the department, these products received countervailable subsidies, ranging from 30.3 to 177.43 percent in the case of China, and zero to 74.01 percent in the case of Mexico. In 2018, imports of fabricated structural steel from China and Mexico were valued at an estimated $897.5 million, and $622.4 million, respectively.
Actions like these have increased under the Trump administration and by as much as 219 percent, compared to a similar period under his predecessor.
