United States

Europe

Switzerland

Economics

Global Trade

Politics

The United States imposed a 39% baseline tariff on imports from Switzerland, above the 31% rate previously floated in April and representing one of the highest levels imposed by the United States on any country, Reuters reported on July 31.

Switzerland, U.S.: U.S. To Impose 39% Baseline Tariff Rate on Swiss Exports

China

Environment, Science & Technology

The Chinese Ministry of Commerce on July 15 announced a new licensing requirement for the export of eight manufacturing technologies for the electric vehicle battery supply chain, effective immediately.

China: Country Adopts Licensing Requirements for Certain EV Battery, Lithium Extraction Technologies  

U.S.-China Relations

Vietnam

Vietnam's leaders were surprised after U.S. President Donald Trump unilaterally announced a 20% tariff rate on Vietnamese exports on July 2 because, according to sources cited in a July 11 Politico report, this was almost double the 11% rate Hanoi had reportedly agreed to in its trade negotiations with the White House.

Vietnam, U.S.: Lack of Consensus on Trade Deal Puts It In Jeopardy

Canada

In a letter published on Truth Social on July 10, U.S. President Donald Trump threatened to increase tariffs on Canada to 35%.

U.S., Canada: Trump Threatens New 35% Tariff on Canadian Goods 

U.S. President Donald Trump told reporters on June 11 that his administration was sending letters to trading partners in the next week or two telling them "what the deal is," and for them to take it or leave it.

U.S.: Trump Says Final Trade Deal Offers To Be Sent Within Weeks, Door Opens for Tariff Delays

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

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

Assessments

Russia

India

An oil tanker train passes near a refinery in Guwahati, India, on March 30, 2023. 

Energy

Russia-Ukraine Conflict

For now, India will likely keep importing cheap Russian oil in the hopes it can soon secure tariff relief, either directly via a U.S. trade deal or indirectly via a breakthrough in U.S.-Russia talks on Ukraine.

Will Trump's Tariffs Deter India From Buying Russian Oil?

The Geopolitics of Trade

Cyber

Military & Security

Protectionist and security-driven data regulations are impeding digital and physical trade, potentially slowing global economic growth and innovation.

The Geopolitics of Trade: Diverging Digital Governance Threatens Data Flows

Cambodia

Thailand

Poland

Ukraine

U.S. President Donald Trump speaks during a meeting with Philippine President Ferdinand Marcos Jr. in the Oval Office of the White House on July 22, 2025. 

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

The Weekly Rundown: Last-Minute U.S. Trade Talks, a New Polish President

Brazil

Brazilian President Luiz Inacio Lula da Silva speaks during a press conference at the BRICS summit in Rio de Janeiro, Brazil, on July 7, 2025. 

While most of Brazil's main exports are exempt, the additional U.S. tariffs -- along with Brazil's impending economic retaliation and the likely arrest of former President Bolsonaro -- will further strain bilateral ties.

The Implications of Trump's New Tariffs on Brazil

Snapshots

The EU flag is seen on stacked cargo containers.

The framework deal avoids an escalation of tit-for-tat tariffs that would have strained both economies, but various unresolved issues could still reignite transatlantic trade tensions in the future.

New U.S.-EU Deal Averts Full-Blown Trade War -- For Now

Mexico

Japan

South Korea

Taiwan

A Cambodian soldier stands on a truck with a rocket launcher in Cambodia's Oddar Meanchey province, which borders Thailand, on July 25, 2025. 

The Weekly Rundown: U.S. Tariff Deadline Passes, Thai-Cambodian Border Tensions Persist

A photo taken on Feb. 21, 2025, shows Subaru vehicles bound for shipment at a port in Yokohama, Japan. 

The deal is a win for Japan's economy and its ruling party, but it may hasten Prime Minister Ishiba's exit. It will also help South Korea and Taiwan secure their own U.S. trade deals.

U.S. Trade Deal Is a Mixed Victory for Japan, a Template for Regional Partners

Euro banknotes lie atop U.S. dollar banknotes.

The dollar's depreciation against the euro will likely persist due to U.S. trade and fiscal policy uncertainty, which will hurt European exports but also reduce the risk of destabilizing U.S. financial policies.

Making Sense of Dollar Weakness and Euro Strength

Indonesia

Containers are unloaded from a ship at a terminal of Tanjung Priok Port, the main seaport in Jakarta, Indonesia, on Jan. 24, 2025. 

In exchange for a lower U.S. tariff rate, Indonesia accepted significant concessions, including purchasing commitments and regulatory changes, that risk limiting its long-term autonomy and industrial policy goals.

To Avoid Steeper Tariffs, Indonesia Reaches High-Stakes Trade Deal With the U.S.

Bangladesh

The entrance to the International Monetary Fund headquarters is seen in Washington, D.C.

While Bangladesh is making progress in its IMF program, risks persist, including political uncertainty, low foreign exchange reserves and high U.S. tariffs on its vital garment sector.

Bangladesh's Economic Outlook: Progress and Persistent Challenges

Columns

On Geopolitics

U.S. President Donald Trump arrives to speak during a rally at a steel plant in West Mifflin, Pennsylvania, on May 30, 2025. 

For the rest of his term, Trump will continue to use tariffs to secure foreign policy concessions on both trade and non-trade matters, even if he starts shifting away from broad, global tariff threats to ones focused on specific countries or goods. 

A Look at Trump's Evolving Tariff Strategy

Bahrain

Kuwait

Oman

Qatar

Saudi Arabia

United Arab Emirates

Over the next decade, Gulf Arab states will increase oil and gas exports to emerging Asian markets, seeking alternatives to the U.S. amid tariff uncertainty. But the region's military and tech ties with the U.S. will remain strong.

Global Trade

SITUATION REPORTS

Switzerland, U.S.: U.S. To Impose 39% Baseline Tariff Rate on Swiss Exports

China: Country Adopts Licensing Requirements for Certain EV Battery, Lithium Extraction Technologies

Vietnam, U.S.: Lack of Consensus on Trade Deal Puts It In Jeopardy

U.S., Canada: Trump Threatens New 35% Tariff on Canadian Goods

U.S.: Trump Says Final Trade Deal Offers To Be Sent Within Weeks, Door Opens for Tariff Delays

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

Forecasts

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