China Foreign Ministry, on Trump threatening tariffs if China supplies weapons to Iran, says trade wars have no winners

The statement from China's Foreign Ministry highlights the ongoing tensions in U.S.-China relations, particularly amidst threats of tariffs linked to arms supplies to Iran. This rhetoric suggests a potential escalation in trade conflict, which could negatively impact risk sentiment and lead to increased volatility in equities and commodities, while also influencing currency valuations, particularly the USD. Traders should monitor these developments closely as they may shift market dynamics significantly.