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Huoxun Finance News, March 16th – According to Jinshi News, a spokesperson for the Ministry of Commerce answered reporters' questions regarding the US Trade Representative's announcement of a Section 301 investigation against 60 economies, including China, on the grounds that "the import of products involving forced labor is not prohibited." The Ministry of Commerce stated that the US had previously fabricated facts and imposed a series of trade restrictions on China under the pretext of "forced labor," and China has repeatedly expressed its firm position. Currently, China and the US are holding a new round of trade consultations in Paris, France, and China has lodged representations with the US. We urge the US to immediately correct its erroneous practices, meet China halfway, adhere to the principles of mutual respect and equal consultation, and find a solution through dialogue and consultation. We will closely monitor the progress of the US investigation and reserve the right to take all necessary measures to resolutely defend our legitimate rights and interests.

Huoxun Finance reported on March 16th that, according to Jinshi citing the Wall Street Journal, US officials stated that the Trump administration plans to announce as early as this week that several countries have agreed to form a coalition to escort ships passing through the Strait of Hormuz. However, discussions are still ongoing regarding whether these operations should commence before or after the end of hostilities with Iran. The White House declined to comment. Given the associated risks, many countries have remained hesitant to participate in such escort missions until hostilities cease.

Huoxun Finance News, March 16th - According to Jinshi, an article in the Financial Times points out that this week will be a "super central bank week." While the interest rate decisions of these central banks are not expected to bring any surprises, the policy guidance accompanying these decisions will be closely watched given the ongoing conflict in the Middle East. The four major central banks—the Federal Reserve, the European Central Bank, the Bank of England, and the Bank of Japan—will announce their decisions one after another on Thursday Beijing time. In addition, interest rate setters from Australia, Brazil, China, Canada, Indonesia, Sweden, and Switzerland will also meet this week. Except for the Reserve Bank of Australia, which may be an exception, the other central banks are likely to keep their interest rates unchanged. However, the war in Iran has increased the possibility of a rate hike later this year. The interest rate market has responded hawkishly to the impending energy price shock; expectations for rate cuts by the Federal Reserve and the Bank of England have been erased, replaced by the possibility of a rate hike by the latter. Expectations for a rate hike by the European Central Bank this year have also increased further. Since the start of the war, the Bank of Japan's interest rate path has remained relatively unchanged.

Huoxun Finance reported on March 16th that, according to a report by the Financial Times citing Jinshi, Trump warned that NATO faces a "very bad" future if US allies do not help reopen the Strait of Hormuz. "Those who benefit from the Strait should help make sure nothing bad happens there," Trump said, adding that Europe is highly dependent on oil from the Gulf region, while the US is not. He added, "If there is no response, or if the response is negative, I think it will be very bad for the future of NATO." When asked what kind of help he needed, Trump replied, "Any necessary help." He added that allies should send minesweepers, and Europe has far more minesweepers than the US. Trump hinted that he wanted Europe to send commandos or other military forces to eliminate Iranian personnel who are using drones and mines to create "trouble" in the Gulf. Trump also warned that the US is prepared to launch a new strike on Kharg Island, Iran's oil export hub, and may target its oil infrastructure.