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July 5, 2022

As China’s Economy Strengthen, Nation Announces Metals Tariff Extensions

What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:

  • China’s commerce ministry announced last week that it will extend anti-dumping tariffs on certain steel fasteners imported from the European Union and United Kingdom for five years. The policy was effective June 29, 2022.
  • Global factory output remained stable in June due to easing in COVID restrictions in China. The JP Morgan global purchasing managers’ index (PMI) fell to a 22-month low of 52.2 in June from 52.3 in May, but remained above the growth mark of 50.0 for the 24th month in a row. While growth improved in China, it slowed in the United States, Japan, and the United Kingdom. The eurozone and South Korea saw output declines. The report also highlighted a few underlying weaknesses and headwinds, including tapering growth of new order intakes, lower business confidence, elevated inflationary pressures and stretched global supply chains. Read the full report here. Find all global PMI indices here.

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