EU sounds out industry over new trade weapon against China’s overcapacity, SCMP reports

The EU's engagement with industry regarding a new trade measure to counter China's overcapacity signals a potential escalation in trade tensions. This move could lead to a recalibration of relations not only with China but also with key trading partners like the U.S. and Japan, influencing currency dynamics and market sentiment, particularly for the euro and major currencies in the Asia-Pacific region.