Maersk reports that average U.S. import tariffs now stand around 21%, down from a peak of 54% in April, after a 90-day tariff pause. With a July 9 deadline approaching, over a dozen trading partners are actively negotiating new trade terms.
A recent U.S.–China agreement reinstates Chinese rare-earth exports under a 55% tariff. While this doesn’t exceed existing rates, the deal also reverses planned reciprocal tariffs and relaxes export controls in areas like AI chips.
The World Bank warns that U.S. reciprocal tariffs (10% on most countries; 30% on China/HK; 25% on Canada/Mexico) are putting strain on growth and recommends globally coordinated tariff reductions to avoid slowing economies.
In trade talks, Japan remains unwilling to remove the 25% tariff on automotive imports, refusing to make concessions. This stalemate blocks broader trade agreements and highlights how automotive tariffs remain a hot-button issue.
The elimination of the de minimis exemption for low-value shipments from China (now taxable regardless of value) has delivered a "seismic shock" to U.S. air cargo—which previously handled 1.36 billion parcels annually under that rule. Logistics stocks have responded with sharp declines.
The doubling of U.S. steel & aluminum tariffs to 50% is expected to raise import costs by over $100 billion annually. This move significantly impacts both global supply chains and U.S. manufacturing sectors.
Italy's Confindustria estimates a potential €20 billion drop in exports and a loss of 118,000 jobs if the U.S. imposes a 10% tariff across all European goods—especially affecting machinery, transport, and leather sectors.
As a U.S.–China trade truce looms, China is promoting itself as a global trade leader, rallying support from allies like the EU, Australia, and Japan—even as it continues to enforce retaliatory tariffs on several Western goods.
Ports in Rotterdam, Antwerp, and Hamburg report record-breaking congestion. Indicators show container delays of 66–77 hours, driven by diverted shipments—an unintended fallout from shifting U.S. tariff policy.
New 25% tariffs on UK car imports have slashed British auto exports to the U.S. by 50%, highlighting sharp trade tensions. Global markets have reacted with volatility, though stock indices remain resilient amid optimistic trade negotiations.