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Global Trade

In a May 23 post on Truth Social, U.S. President Donald Trump threatened to impose a 25% tariff on all imported iPhones, calling on Apple to manufacture the devices in the United States.

U.S.: Trump Threatens Apple With 25% Tariff on iPhone Imports

Europe

U.S. President Donald Trump announced plans to impose a 50% tariff on all EU imports starting June 1 in a post on Truth Social, arguing that negotiations with the bloc are "going nowhere."

U.S., Europe: Trump Threatens 50% Blanket Tariff on EU Goods Amid Stalled Talks

EU: Economic Growth Likely To Slow

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Canada

Mexico

China

Japan

South Korea

A U.S. courthouse facade with columns in lower Manhattan, New York.

Politics

The court ruling nullifies most -- though not all -- of the Trump administration's tariffs, giving U.S. trading partners temporary breathing room in negotiations while the White House searches for alternative trade measures.

The White House's Tariff Ambitions Bend -- But Do Not Break -- Under the Weight of a Court Ruling

Assessments

India

India's evolving trade strategy aims to boost key exports while protecting sensitive sectors, reflecting a blend of liberalization and long-standing protectionist instincts.

The Geopolitics of Trade: India

Malaysia

The ASEAN logo May 15 in front of the Petronas Towers in Kuala Lumpur, Malaysia. Malaysia will host the first of the two annual summits of the Association of Southeast Asian Nations on May 26.

A look at what the coming week will bring -- and a list of recommended RANE articles from the week that was.

The Weekly Rundown: Trans-Atlantic Trade Talks Intensify, Malaysia Hosts Two Summits

Columns

On Geopolitics

A digital illustration of a Chinese flag.

The apparent ineffectiveness of consumer subsidies in raising retail sales, paired with the government's continued resistance to stimulus, suggests that China's post-COVID consumer activity will remain depressed for the foreseeable future.

Gauging the Success of China's Consumer Subsidies Program, One Year Later

U.S.-China Relations

Visitors walk down the inclined shaft at Steenkampskraal rare-earth mine on July 29, 2019, about 80 kilometers (about 50 miles) from Vanrhynsdorp, a town in Western Cape province, South Africa.

U.S.-China trade tensions are increasing the risk of supply chain disruptions for critical raw materials, but companies can take steps to mitigate this danger.

Corporate America Comes to Grips With Supply Chain Risks to Critical Raw Materials

For export-reliant developing countries that were already facing financial distress, the global uncertainty created by Trump's sweeping tariffs will sharply increase economic risks, as well as introduce political instability risks.

 Trump's Tariffs Will Hit Developing Economies Hard

Containers are seen at China's Lianyungang port in eastern Jiangsu province on May 1, 2025. 

Although the U.S.-China trade deal will bring short-term economic relief, negotiations over a broader agreement will remain fraught, particularly since the rapid reduction of U.S. tariffs will embolden China to implement strong retaliation when talks falter.

Despite Tariff Reprieve, a Broader U.S.-China Deal Will Remain Elusive

United Kingdom

U.S. President Donald Trump -- flanked by Vice President JD Vance (left) and Peter Mandelson, the U.K. ambassador to the United States (right) -- holds a phone call with U.K. Prime Minister Keir Starmer in the Oval Office of the White House on May 8, 2025. 

The agreement's narrow scope and quota system suggest the White House remains intent on restricting imports, meaning tariff relief for most other countries reaching deals will also be limited.

Trump Reaches First Post-Tariff Trade Deal With the U.K.

Australia

Singapore

Germany

France

Poland

Romania

Pakistan

Indian and Pakistani border forces at the Wagah border post separating their countries April 25 near Amritsar, India.

Military & Security

The Weekly Rundown: A Likely Indian Attack on Pakistan, Romania's Presidential Election Rerun

A digital illustration of the Chinese and EU flags.

Transatlantic trade tensions have created a window for tactical EU-China engagement, but structural constraints and unresolved disputes limit prospects for meaningful realignment.

Budding EU-China Rapprochement Amid U.S. Tariffs Will Have Its Limits

Trucks travel by the U.S.-Mexico border after crossing the border into the United States at Otay Mesa, California, on April 2, 2025. 

Although U.S. tariffs will hurt Mexico's economy in the short term, they may eventually grant Mexico a competitive advantage over countries that face even higher duties.

The Buffers That Will Help Mexico Navigate Tariff Turbulence

The Geopolitics of Trade

U.S. reciprocal tariffs will have major economic and political impacts on Japan and South Korea, particularly as both East Asian countries prepare for summer elections.

The Geopolitics of Trade: The Impact of U.S. Tariffs on South Korea and Japan

Global Trade

SITUATION REPORTS

U.S.: Trump Threatens Apple With 25% Tariff on iPhone Imports

U.S., Europe: Trump Threatens 50% Blanket Tariff on EU Goods Amid Stalled Talks

EU: Economic Growth Likely To Slow

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