Overview

• The World Trade Organization forecasts a decline in global merchandise trade by 0.2% to 1.5% in 2025, with North America facing the steepest economic impact.
• North American exports are projected to drop by 12.6%, imports by 9.6%, and GDP growth to slow to 0.4%, reflecting the region's economic vulnerability to the tariffs.
• California Governor Gavin Newsom has filed a lawsuit against the federal government, calling the tariffs unlawful and harmful to families and businesses in the state.
• Scope Rating Agency has warned of a potential US credit rating downgrade, citing risks to the dollar’s stability and investor confidence amid prolonged trade conflicts.
• China and the EU have signaled a willingness to negotiate, even as they implement countermeasures, highlighting the geopolitical ripple effects of the US tariff regime.