The European Union will impose duties on imports of aluminum extrusions from China, Reuters reported, citing an EU daily on Friday.
The announcement of the imposition of tariffs comes during the course of an investigation into whether Chinese producers are selling at unfairly low prices.
Key points:
- The duties, which range from 30.4 to 48.0%, would apply as of Wednesday.
- The duties are provisional, meaning they will apply until the investigation ends in April.
- The China Metals Association has called the complaint unfounded.
Market Reaction
The above news has little to no impact on market sentiment, with the EUR / USD holding its range around 1.1700 even as it is vulnerable on growing concern over the resurgence of the coronavirus in Europe.
Credits: Forex Street
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