Trump Says He Will Raise Tariff on EU Vehicles to 25%
Former President Donald Trump announced he would raise the tariff on European‑made vehicles to 25% if he returns to the White House. The proposal would double the current 10% duty applied to cars from the EU, targeting major manufacturers such as Volkswagen, BMW and Mercedes‑Benz. Trump framed the move as a response to perceived unfair trade practices and a way to protect American jobs. The announcement comes amid ongoing debates over U.S. trade policy and upcoming election cycles.
Why UK Whisky Tariffs Are Being Lifted After A Royal Visit
In April 2025 the United States slapped a 10 percent tariff on British goods, including Scotch whisky, causing a 15 percent export decline and a loss of roughly 12 million bottles. The duty cost the U.K. whisky sector about £4 million ($5.4 million) weekly and hurt...
Op-Ed: The Jones Act Waiver, A Gift to China and NATO’s Iran Onlookers
The Biden administration extended a Jones Act waiver for 90 days, allowing foreign‑flagged vessels to operate in domestic U.S. trades. MARAD data shows most of the fifteen voyages under the waiver were carried out by European allies and four ships...
Journal of Commerce Top 100 US Importers and Exporters in 2025
The 2026 Journal of Commerce Top 100 US Importers and Exporters list shows combined import volumes slipping 1.1% and export volumes falling 4.5% year‑over‑year. Despite this decline among the largest shippers, total US container imports rose 0.7% to a record 28.16 million TEUs,...
Risk-On Mood Persists, but Watch for Volatility
Global equities have resumed their upward trajectory after the United States and Iran agreed to a cease‑fire, sustaining a risk‑on market mood. The strategy now calls for underweighting oil, which surged during the conflict, and adding gold as inflation concerns...
Iran’s Currency Crisis Deepens as War Batters Economy
Iran’s rial slumped to a record 1.81 million per U.S. dollar before a brief rebound, reflecting a 15% drop in days amid intensified war, air strikes and a U.S. naval blockade. The conflict has crippled oil exports, driving annual inflation to...
White House Says Iran Hostilities ‘Terminated’ as War Powers Deadline Arrives
The White House announced that hostilities with Iran are considered terminated as the May 1 deadline under the 1973 War Powers Resolution approached. The Trump administration argues the cease‑fire claim exempts it from the legal requirement to seek congressional authorization. Democrats...
'No Way to Treat Close Partners': Trump Hikes Tariffs on EU Cars to 25%
President Donald Trump announced that the United States will raise tariffs on European Union cars and trucks from the current 15 % to 25 % starting next week, citing alleged non‑compliance with the 2025 US‑EU trade deal. The move is intended to...
Exxon Mobil CEO Expects Higher Oil Prices Due to Iran War: ‘The Market Hasn’t Seen the Full Impact’
Exxon Mobil CEO Darren Woods warned that current oil prices do not reflect the full impact of the Iran‑triggered supply shock, noting that strategic reserves and in‑transit tankers have temporarily cushioned the market. He said oil flows from the Persian...
The IEA’s Fatih Birol on ‘the Greatest Energy Security Threat in History’
International Energy Agency Executive Director Fatih Birol told an Atlantic Council event that the ongoing war in Iran represents the greatest energy security threat in history. He warned that disruptions in the Strait of Hormuz could force oil prices to...
The Guardian View on Britain’s Fragile Systems: When Global Shocks Hit Your Shopping Bill | Editorial
The Bank of England warned that UK food inflation could reach 7% by year‑end, exposing how geopolitical shocks in the Gulf can cascade through energy, fertilizer and supermarket prices. The editorial argues Britain’s tightly‑linked finance, energy, data and food sectors...
Trump Is Breaking the Turnberry Deal over Cars. Semiconductors Are Next in Line.
President Trump announced a 25% tariff on EU cars and trucks, up from the 10% rate applied after a February Supreme Court ruling, accusing the bloc of vague non‑compliance with the Turnbird Agreement. The 2025 agreement capped U.S. tariffs on...
Trump Says 'Iran Wants to Make a Deal, but I'm Not Satisfied with It'
President Donald Trump said he is not satisfied with Iran's new offer to end the two‑month war involving the United States and Israel. He argued the proposal contains demands he cannot accept and highlighted Iran's depleted military capacity. Pakistani officials,...
Venezuela Oil Exports Hit 7-Year High as U.S., India, Europe Ramp Up Buying
Venezuela’s oil exports jumped 14% in April to 1.23 million barrels per day, the strongest monthly level since late 2018. The surge was driven by higher shipments to the United States, India and Europe after U.S. sanctions were eased and a...
Trump Says US to Raise Tariff Rate on EU Cars, Trucks to 25%
President Donald Trump announced that the United States will raise tariffs on imported European Union cars and trucks to 25% after accusing the bloc of breaching a recently negotiated trade agreement. The new levy excludes vehicles assembled in U.S. facilities,...
Oil Rally Stalls as Iran Proposal Triggers Profit-Taking
Oil prices stalled below $110 per barrel after a week of extreme swings, with Brent’s June contract briefly touching $126. The slowdown was driven by Iran’s latest negotiation proposal, which sparked profit‑taking amid uncertainty over President Trump’s 60‑day war‑powers deadline....
Wrap-Up From VettaFi’s Q2 Market Outlook Symposium
VettaFi’s Q2 Market Outlook Symposium highlighted a suite of thematic strategies for advisors, from active fixed‑income ETFs to emerging sectors like defense drones and physical AI. Panels showcased the rise of autocallable ETFs, record $6 billion inflows into CLO ETFs, and...
Investors Dump Philippine Securities as War Rattles Markets
Foreign portfolio investors pulled $1.96 billion from the Philippines in March, marking the largest three‑month outflow and shifting the first‑quarter net balance to a $2.81 billion loss. The retreat was most acute in government securities, which saw a $1.3 billion net outflow after...
Electric Car Interest Surges Following Spike in Fuel Prices
Fuel price spikes caused by the Iran‑U.S. conflict have sparked a sharp rise in electric‑vehicle interest across Europe, with Renault reporting a 42% jump in UK website enquiries and EVs making up just under 50% of its April registrations. Similar...
U.S. Treasury Expands Hormuz ‘Toll’ Warning, Puts Maritime Industry on Notice
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) issued a new alert expanding its warning on Iranian “safe passage” toll demands in the Strait of Hormuz. The guidance details how payments—whether cash, digital assets, swaps, or charitable donations—can trigger...
Iran’s Threat to the World Economy
Iran has seized effective control of Strait of Hormuz traffic while the United States has responded with a naval blockade aimed at stopping Iranian oil exports. Both sides believe they hold the upper hand, creating a dangerous stalemate that could...
Transpacific Defies Downtrend as Container Spot Rates Climb on War-Driven Demand
Container spot rates on the Shanghai‑Los Angeles lane rose 2% to $2,930 per 40 ft, marking a 34% gain since the Iran conflict began. Far‑East to U.S. west‑coast freight is up roughly 50% overall, while the Shanghai‑New York leg slipped 2% to...
Gemini Capacity Cutbacks Make India-Med Market Hotter for Rival Carriers
Gemini Cooperation has withdrawn its high‑capacity ME11/IMX loop linking the Middle East, India and the Mediterranean, tightening supply in the India‑Mediterranean trade lane. Spot rates jumped $800‑$1,000 per FEU from late March through April before stabilising. In response, Gemini’s partners...
Could OPEC Lose Its Grip on Oil?
The United Arab Emirates announced its departure from OPEC and the broader OPEC+ alliance, ending a six‑decade partnership that had bolstered the cartel’s credibility. While Saudi Arabia retains the lion’s share of spare capacity and Russia continues to back the...
Has De-Dollarization Begun?
U.S. President Donald Trump’s escalating conflict with Iran is prompting global policymakers to question the dollar’s dominance. At the IMF and World Bank spring meetings in Washington, officials highlighted the erosion of confidence in the U.S. financial system. UK Chancellor...
Credit Managers Warn on Iran as Defaults Rise, Spreads Poised to Widen
Credit managers surveyed by the International Association of Credit Portfolio Managers warn that defaults are set to rise sharply, while credit spreads are expected to widen only modestly. The Credit Spread Index fell to -46.2, its lowest level since March...
Biofuel Use Pushes up Food Prices: Is Demand Here to Stay?
Recent oil price spikes from the Iran war have accelerated biofuel production, putting upward pressure on food commodities used as feedstocks. In the EU, 39‑44% of biodiesel and in the US 70‑80% comes from crops such as vegetable oil, corn...
Wavelength Podcast: Tanker Market Insights as Gulf Conflict Continues and UAE Leaves Opec
The latest Wavelength podcast examines how the tentative Iran‑US/Israeli cease‑fire and ongoing blockades of the Strait of Hormuz are sustaining high tanker‑market rates. Angelica Kemene of Optima Shipping Services discusses the potential shift in crude flows if the United Arab...
Iran Conflict Hobbles Japanese Manufacturers
Japanese manufacturers are feeling the ripple effects of the escalating Iran‑Israel conflict, which has disrupted shipping lanes in the Persian Gulf and heightened insurance premiums for cargo. Companies reliant on components sourced from the Middle East are facing longer lead...
Developing an Africa-Focused Tech Agenda for the United States to Outcompete China
In December 2025 the Atlantic Council convened a high‑level workshop on U.S.–China competition in Africa’s tech ecosystems. The memo highlights Africa’s fast‑growing, youthful market—projected to exceed 2.5 billion people by 2050—and the need for the United States to match China’s tailored,...
Oil Falls as Iran Proposes Talks but Prices Still Set for Weekly Gains
Oil prices slipped on Friday as Iran submitted a new negotiation proposal to the United States, but the market remains on track for weekly gains. Brent futures fell 0.2% to $110.14 a barrel, while WTI dropped 1.7% to $103.24. Despite...
Middle East Fertiliser Crisis Likely to Hit Smaller Bulk Carriers
Yara International’s CEO warned that soaring fertilizer prices and a Gulf shipping bottleneck could trigger a global auction, hitting the poorest nations hardest. Around 300 bulk carriers, primarily 20,000‑65,000 dwt handy‑class vessels, are stranded in the Gulf, holding 1.9 million tonnes of...
China’s Soft Power Play in Africa
China has eliminated import tariffs for 53 African countries, effective today, positioning the move as a soft‑power initiative that contrasts with the United States' more punitive trade stance. The policy excludes Eswatini because of its ties to Taiwan, underscoring Beijing’s...
Agriculture Ministry Yet to Clear Cotton Duty Relief Despite Textile Sector Pressure
The Indian Textile Ministry has asked for a temporary removal or reduction of import duties on raw cotton to lower input costs for apparel exporters amid the West Asia crisis. The Agriculture Ministry, however, has not yet approved the proposal,...
Namibia Holds Key Interest Rate as Iran War Darkens Outlook
Namibia’s central bank left its main repo rate unchanged at 6.50% for the third consecutive meeting, citing a deteriorating growth and inflation outlook linked to the Iran war. Inflation eased to 2.1% in March, the lowest since 2020, but the...
Are the Ryukyu Islands an Overlooked Flashpoint in the Indo-Pacific?
The Ryukyu Islands, a 55‑island chain linking Taiwan and Japan, are emerging as a strategic flashpoint in the Indo‑Pacific. Beijing views the archipelago as a gateway to extend its naval reach, pressure Taiwan, and secure submarine transit beyond the First...
China Tightens Screws on Rare Earth Production
China’s Ministry of Industry and Information Technology announced draft regulations that would impose strict production quotas and licensing requirements on rare‑earth miners. The measures target over‑production that has depressed global prices and aim to stabilize the market ahead of President...
India Aligns RoDTEP Schedules with Amended Customs Tariff Structure
India has updated its Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to align with the amended customs tariff structure introduced by the Finance Act 2026. Effective May 1, 2026, the revision adds 142 new tariff lines, removes 50,...
View From The Hill: Albanese Sensitive on One Tax Reform that Won’t Be in the Budget
Prime Minister Anthony Albanese pushed back on calls to index income‑tax brackets in the May 12 budget, saying the reform is not a priority. Economists warn that without indexation, inflation‑driven “bracket creep” could lift the average tax rate from 22.8% to...
Contentious EU-Mercosur Trade Deal Takes Provisional Effect
After 25 years of talks, the EU‑Mercosur free‑trade agreement entered provisional application on Friday, despite a pending legal challenge at the EU Court of Justice. The deal removes most tariffs, linking a market of over 700 million consumers across the EU...
Europe Needs Ukraine as It Looks to Counter Growing Russian Threat
European leaders are shifting from viewing Ukraine as an aid recipient to treating it as a core security partner. Ukraine’s armed forces, now the largest and most modern in Europe, lead in drone warfare and are training troops across the...
Gulf Resolution Needed, Says DHL Chief Fearing for Asia-Europe Trade
DHL chief Tobias Meyer praised the rapid relocation of its Middle‑East express operations after the U.S./Israel strikes on Iran forced a seven‑week closure of Bahrain’s airspace. The company shifted its hub to Muscat and Riyadh, using over‑land trucking backed by...
Not So Strait-Forward
Global markets face heightened stagflation risk as the Strait of Hormuz remains closed, keeping energy prices elevated. In the United States, the Federal Reserve is expected to hold rates steady with only a single cut later in the year, while...
Sell in May and Go Away? Maybe Not
U.S. equities have surged, with the S&P 500 up 9.2% through April and on track for its strongest April performance since 2020. The rally is fueled by easing Iran tensions, expectations of the Strait of Hormuz reopening, and solid Q1 earnings....
Powell Is Right to Stay at the Fed; the Central Bank Needs Continuity
Jerome Powell announced he will remain on the Federal Reserve Board after his chairmanship ends on May 15, citing ongoing legal threats and political pressure. The move breaks the usual tradition of stepping down to preserve continuity amid a Justice...
Box Lines’ Return to Suez Would Open ‘Release Valve’ to Overcapacity
Analysts warn that the container market’s current tightness is largely artificial, sustained by vessels rerouted around the Red Sea rather than genuine demand. A faster‑than‑expected return of box‑line ships to the Suez Canal could unleash a sudden capacity surge, acting...
Inventories Acting as Shock Absorber of Global Oil System
J.P. Morgan analysts say global oil inventories are now the primary shock absorber amid war‑driven supply disruptions. The world entered 2026 with 8.4 billion barrels in storage, 6.6 billion on‑shore and 1.8 billion afloat, but only about 0.8 billion barrels are readily usable without...
Temu and Shein Cost Germany 2.4 Billion Euros Yearly
A study commissioned by the German Retail Federation finds that Shein and Temu deliver 460,000 parcels daily to Germany, costing the economy an estimated €2.4 bn ($2.6 bn) in added value each year. The platforms’ alleged regulatory violations create an uneven playing...
Asian Currencies Wilting in the Iran War’s Heat
Asian currencies are sliding as the Iran‑Israel conflict pushes oil above $120 a barrel and fuels capital outflows. In India, the rupee fell to a fresh record low of 95.34 per dollar, prompting the RBI to lean on its $700 billion...
Give Our Bullion Back: India Wants Its Gold Under Own Lock and Key
India is rapidly repatriating its gold, with the Reserve Bank of India now holding about 77% of its 880.5 tonnes of bullion in domestic vaults—roughly 680 tonnes. In the last six months the RBI moved 104.23 tonnes back from overseas storage, raising gold’s...