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The US Commerce Department imposed a preliminary anti-subsidy tariff of 6.23% to 10.08% on car and truck tires from Vietnam, citing an undervalued currency. It is the first time the department has based a countervailing duty on a foreign currency value.
Tariffs on Vietnamese tires affect a niche of rubber trade rather than feed grains, so direct price impact on feed commodities is minimal; the currency precedent may matter for broader trade policy.
bloomberg.comJohn BoudreauNov 5, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
