United States

Economics

Politics

U.S. Trade Representative Jamieson Greer took final action on July 23 to move forward with 10% and 12.5% tariffs on 60 economies under Section 301 of the 1974 Trade Act over their alleged failure to effectively prohibit imports of goods produced with forced labor.

U.S.: Forced Labor Tariffs Announced as Other Tariffs Expire

Europe

Russia

EU ambassadors approved the bloc's 21st sanctions package against Russia on July 23, its largest in four years with 218 listings, after granting Greece a renewable one-year exemption allowing EU companies to continue shipping Russian liquefied natural gas to third countries, Reuters reported the same day.

EU: Bloc Agrees to Watered-Down 21st Russia Sanctions Package

Australia

China

New Zealand

Papua New Guinea

Military & Security

New Zealand and Papua New Guinea signed a 2026-29 framework to expand defense planning, training, exercises and personnel exchanges, Reuters reported on July 23.

New Zealand, Papua New Guinea: Defense Agreement Reinforces Western Security Alignment

Canada

Mexico

U.S. Trade Representative Jamieson Greer said he expected to reach interim trade deals with Mexico and Canada by the end of 2026, while more complex issues, such as rules of origin and higher labor and environmental requirements, will be left for 2027, Reuters reported on July 22.

U.S., Mexico, Canada: U.S. Aims for Interim Deals With Canada and Mexico by Year-End

India

On July 21, U.S. President Donald Trump announced that generic drugs imported into the United States will remain tariff-free for two years from Aug. 1, after which duties will increase to 100% for one year and then to 200%, Bloomberg reported on July 22. 

India, U.S.: U.S. To Impose Graduated Tariffs on Generic Drug Imports After Two Years

Eritrea

Ethiopia

Sudan

Egypt

Energy

Environment, Science & Technology

Egyptian Foreign Minister Badr Abdelatty accused Ethiopia of causing a reduction in downstream water levels on the Blue Nile in Sudan due to its unilateral operation of the Grand Ethiopian Renaissance Dam, Anadolu reported on July 22.

Nile Basin: Egypt, Sudan Slam Ethiopia Over Renaissance Dam's Unilateral Water Retention

Ukraine

Russia-Ukraine Conflict

Ukrainian drones struck Wildberries warehouses in Krasnodar and Nevinnomyssk, injuring several workers and extending a series of attacks on Russia's largest online retailer, Reuters reported on July 22. 

Russia, Ukraine: Strikes on Russian Online Retailer Drag Russia's Consumer Economy Into the War

Chile

Chile's Congress approved all but one of the economic proposals of President Jose Antonio Kast's economic reform package, El Pais reported on July 21.

Chile: Congress Approves Most of Kast's Economic Reform Package

The world is connected, but even the broadest topics deserve an individual look. Below are our latest and most relevant economics analyses.

Below are our latest and most relevant economics analyses.

Sub-Saharan Africa

Americas

Asia-Pacific

Eurasia

Middle East and North Africa

South Asia

Beyond Quantitative Easing

The New Silk Road

The Fate of the Eurozone

South America: Split Decisions on Trade

Banking

Commodities: A Cautionary Tale

Social Issues

European Disintegration

Russia's Internal Struggle

China in Transition

A Japanese Awakening

East African Integration

Snapshots

Iran

Israel

Saudi Arabia

Yemen

Yemeni protesters take part in a demonstration held to send a message of defiance against the continued siege and any military escalation involving Saudi forces against Houthi-controlled northern Yemen on July 17. 

Israel-Hamas Conflict

Forced to bypass the disrupted Strait of Hormuz, Saudi Arabia's increased reliance on alternative routes leaves its critical oil shipments vulnerable to Houthi attacks.


Yemen's Houthis Threaten Saudi Oil Exports With Red Sea Blockade

U.S.-Iran Relations

United Kingdom

A giant Indian flag is displayed from the country's embassy in London on May 7, 2025.

While the agreement will support both countries' economic diversification efforts, U.K. regulatory standards and supply chain challenges will limit some gains for India.

What To Expect as the India-U.K. Trade Deal Enters Force

Assessments

A decorative plate featuring an image of Chinese President Xi Jinping is seen behind a statue of late communist leader Mao Zedong at a souvenir store next to Tiananmen Square in Beijing, China, on Feb. 27, 2018. 

China will remain a geopolitical enigma to the West as Beijing turns inward to insulate the CCP from the influence of external powers, an exercise that history suggests will threaten national prosperity and regime stability.

The Modern Geopolitics of China

U.S.-China Relations

Germany

France

Spain

Italy

A 20 euro note.

The European Union is likely to advance banking reforms in 2027 that reduce internal barriers to cross-border banking, boosting its financial competitiveness by freeing up funds tied up in savings, but will stop short of significantly greater fiscal and financial risk sharing.

Brussels Seeks To Boost the EU Banking Sector's Competitiveness

Vietnam

A large container ship is seen docked at a port. 

Though interim measures or narrower agreements are plausible, Vietnam's dependence on Chinese inputs will likely prevent a comprehensive agreement, potentially exposing it to stricter U.S. scrutiny and new tariffs.

Vietnam's Reliance on Chinese Imports Complicates U.S. Trade Talks

Argentina

Bolivia

Brazil

Colombia

Ecuador

Guyana

Peru

Venezuela

Pilgrims with flags from different countries gather at Copacabana beach in Rio de Janeiro, Brazil, on July 23, 2013, as they wait for the official opening of the Catholic Church's World Youth Day, which will be celebrated with a holy Mass. 

As many South American countries embrace right-leaning governments, their policies will increasingly align with those of the U.S. Trump administration, opening them to increased security cooperation, although economic integration remains unlikely.

What South America's Rightward Political Shift Means for U.S. Relations

The U.S. and Indian flags adorn the Eisenhower Executive Office Building of the White House in Washington, D.C., on June 20, 2023.

While the ban could prompt the U.S. to lower its proposed Section 301 tariff on India from 12.5% to 10%, unresolved concerns over manufacturing overcapacity will sustain the risk of broader, sector-specific tariffs.

India Imposes Forced Labor Import Ban to Reduce U.S. Tariff Exposure

Media

Podcasts

Which Sub-Saharan countries face the highest risk of protests and unrest in the coming months?

The Decision Advantage: The Outlook for Security in Sub-Saharan Africa

Cars stand in line for gasoline at a Lukoil gas station on July 8, 2026, outside of Moscow, Russia.

Russia will retain the ability to produce and export most of its oil, but sustained Ukrainian strikes will erode its refining capacity, exacerbate domestic fuel shortages and raise the risk of deeper production cuts.

Ukrainian Strikes Deepen Russia's Fuel Refining Crisis

Andy Burnham delivers a speech on June 29, 2026, in Manchester, England. 

As prime minister, Andy Burnham will likely maintain continuity on fiscal, foreign and defense policies within tight budget and market constraints, along with an incremental approach to EU relations.

Previewing Burnham's Premiership in the U.K.

Lebanon

Indonesia

Myanmar

Philippines

Singapore

Thailand

ASEAN leaders hold hands for a group photo during the opening ceremony of the 48th ASEAN summit in Cebu, central Philippines on May 8, 2026. 

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

The Weekly Rundown: U.S.-Iran Tensions Remain High, ASEAN Foreign Ministers Meet With Myanmar

EU flags are displayed in the EU Council headquarters on July 9, 2026, in Brussels, Belgium.

While the European Union is unlikely to adopt the Spanish plan, it could drive an incremental expansion of common borrowing for strategic priorities like defense and industrial competitiveness.


Spain Broaches EU Taboo With Common Debt Proposal

Economics

SITUATION REPORTS

U.S.: Forced Labor Tariffs Announced as Other Tariffs Expire

EU: Bloc Agrees to Watered-Down 21st Russia Sanctions Package

New Zealand, Papua New Guinea: Defense Agreement Reinforces Western Security Alignment

U.S., Mexico, Canada: U.S. Aims for Interim Deals With Canada and Mexico by Year-End

India, U.S.: U.S. To Impose Graduated Tariffs on Generic Drug Imports After Two Years

Nile Basin: Egypt, Sudan Slam Ethiopia Over Renaissance Dam's Unilateral Water Retention

Russia, Ukraine: Strikes on Russian Online Retailer Drag Russia's Consumer Economy Into the War

Chile: Congress Approves Most of Kast's Economic Reform Package

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