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This measure will take effect the day after its publication in the Official Journal of the European Union. Affected by the situation in the Middle East, the passage through the Strait of Hormuz, which carries about one third of the world's maritime fertilizer trade, has been obstructed, leading to a significant rise in global fertilizer prices. The United Nations Food and Agriculture Organization has previously warned that a long-term blockade of the Strait of Hormuz could trigger a disaster in the agricultural and food sectors. The announcement stated that the suspension of tariffs aims to reduce production costs for the EU's agriculture and fertilizer industries and is expected to save them about 60 million euros in tariff expenditures. However, this tariff exemption does not apply to fertilizer products imported from Russia and Belarus. Currently, although the EU grants tariff-free status for fertilizers imported from countries with preferential access policies, it still imposes a 5.5% to 6.5% tariff on a large amount of fertilizers imported from other countries and regions. According to the announcement, the EU imported 2 million tons of ammonia and 5.9 million tons of urea in 2024. (Xinhua News Agency)

The market's anticipation that the US and Iran will reach an agreement and transform a fragile ceasefire into lasting peace has boosted Wall Street's optimism. After rebounding about 18% from the war-induced lows, the S&P 500 Index is expected to post its eighth consecutive week of gains. The conflict has lasted nearly three months, and Tehran is considering the latest proposal submitted by the US. Pakistan has stated that its Army Chief, Asim Munir, is heading to Tehran, suggesting progress in ceasefire negotiations. Qatar's negotiating delegation has arrived in Tehran after coordinating with the US to help broker an agreement.Investors are disregarding macro-level adverse factors and instead are responding positively to optimistic statements about the prospect of peace. Craig Johnson from Piper Sandler noted that this has become a bullish factor for the stock market, saying, "The market is showing a rebound driven by hope."

Foresight News reported, according to Bloomberg, that the US Ninth Circuit Court of Appeals has denied Kalshi and Polymarket's motions to suspend enforcement lawsuits in Nevada and Washington state. Both cases will continue to proceed in state courts. The court found that the two platforms failed to demonstrate irreparable harm from litigating in state court, nor did they establish that the federal court had federal question jurisdiction over the cases.