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Home Forecast Monitor Global Hotspots: Trump Pauses Global Reciprocal Tariffs, Except for China

Global Hotspots: Trump Pauses Global Reciprocal Tariffs, Except for China

Eugene Chausovsky, Miloš Maggiore, Andrew Loftesnes
Podcast
Geopolitical Forecasting

After U.S. President Donald Trump’s reciprocal tariff announcement sent global markets tumbling, he announced a 90-day pause on the levies for countries that did not retaliate, reducing tariffs to 10% for all imports. The U.S., however, increased tariffs on Chinese imports to 125%, prompting strong outreach efforts by Beijing to the European Union, the Association of Southeast Asian Nations (ASEAN), and Australia. In Ukraine, Russian and Ukrainian forces launched new offensives while officials from the U.S. and Russia met in Istanbul for normalization talks and separately conducted a prisoner swap. In the Middle East, the U.S. and Iran agreed to conduct a first round of negotiations Saturday in Oman on a nuclear deal, while Israel and Türkiye discussed deconfliction of their operations in Syria.

After U.S. President Donald Trump’s reciprocal tariff announcement sent global markets tumbling, he announced a 90-day pause on the levies for countries that did not retaliate, reducing tariffs to 10% for all imports. The U.S., however, increased tariffs on Chinese imports to 125%, prompting strong outreach efforts by Beijing to the European Union, the Association of Southeast Asian Nations (ASEAN), and Australia. In Ukraine, Russian and Ukrainian forces launched new offensives while officials from the U.S. and Russia met in Istanbul for normalization talks and separately conducted a prisoner swap. In the Middle East, the U.S. and Iran agreed to conduct a first round of negotiations Saturday in Oman on a nuclear deal, while Israel and Türkiye discussed deconfliction of their operations in Syria.

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