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U.S. Commerce Secretary Gina Raimondo said on Tuesday that she does not expect to investigate Donald Trump until the Office of the U.S. Trade Representative (USTR) completes its ongoing review, reports say – Any changes to U.S. tariffs on China during President Trump’s administration.
The policymaker also noted that tariffs need to be more strategic, supporting the government’s four-year review.
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Market sentiment remains subdued
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The above news, coupled with market concerns about China’s economic slowdown and Sino-US friction, suppressed market sentiment, which in turn put downward pressure on the AUD/USD currency pair. After setting a new low for the year the day before, the AUD/USD fell by 0.07% and was at 0.07%. Around 0.6375.
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