Overview

• China has exempted select U.S. goods from its 125% retaliatory tariffs, signaling concern over the economic impact of the trade war.
• President Trump insists that U.S.-China trade talks are ongoing, while Chinese officials dismiss such claims as baseless and without factual evidence.
• The International Monetary Fund has downgraded global growth forecasts to 2.8% for 2025, citing the trade war’s escalating uncertainty and economic disruption.
• U.S. retailers warn of potential shortages within weeks due to high tariffs on Chinese imports, prompting concerns over supply chain disruptions.
• The UK continues discussions with the U.S. for a tariff-free trade deal, while other major partners like the EU and Canada remain far from agreements.