China's Commerce Ministry announces a tariff of up to 11.7% (prev. 42.7%) on EU dairy products; effective from the 13th of February

China's Commerce Ministry announces a tariff of up to 11.7% (prev. 42.7%) on EU dairy products; effective from the 13th of February.

This development signals a significant escalation in trade tensions between China and the EU, as the reduction in tariffs on dairy products may open the door for increased EU exports but also reflects ongoing protectionist measures. Keep an eye on how this affects the EUR against the USD, as well as its broader implications for commodity prices, particularly if food exports come under scrutiny. The geopolitical landscape may shift, influencing risk sentiment across equities and currencies.