The Trump administration is expected to initiate a sweeping trade investigation as soon as Thursday that will target dozens of countries over their policies toward the trade in goods made with forced labor, via NYT

The potential initiation of a sweeping trade investigation by the Trump administration could signal an escalation in trade tensions, particularly affecting countries perceived to utilize forced labor in goods production. This development may have immediate implications for U.S. trading partners, impacting risk assets and driving flows into safe havens like gold and the USD, as investors price in potential fallout and shifts in trade policy.