US ITC undertaking a new fact-finding investigation to examine impact of revoking permanent normal trade relations treatment for all products of China

The US ITC's initiation of a new fact-finding investigation regarding the impact of revoking permanent normal trade relations for China indicates a potential shift in trade policy that could escalate tensions. This could influence market sentiment, particularly in sectors reliant on Chinese imports or exports, and may affect commodity prices and broader risk assets depending on how markets perceive the durability and severity of these trade relations.