Intergovernmental body shaping global trade since 1995
A coalition of Europe’s largest economies has urged the European Commission to expand and sharpen EU trade defenses. The signatories want more frequent use of safeguard investigations, quicker WTO referrals, and a new resilience tool to protect strategic sectors and value chains. They also advocate allowing anti-subsidy duties to be applied directly to companies.
The US‑Israel war on Iran has pushed energy, fertilizer and transport costs higher and forced global agencies to cut growth forecasts. The OECD and other groups have reduced 2026 growth projections, UNICEF has reported soaring freight bills and delivery delays, and US consumer sentiment has ticked up slightly as gas prices ease (15 June 2026).
The United States has proposed tariffs of up to 12.5% on imports from about 59–60 countries, citing failures to curb goods made with forced labour. The EU has negotiated a digital trade deal with South Korea and is preparing new industrial measures to reduce single‑supplier dependence. China has tightened controls on outbound investment and is hosting a steady stream of foreign leaders.
Australia says a new US tariff hike on imports is not linked to its anti-slavery laws, with ministers stressing Australia has mechanisms to tackle modern slavery. The plan, unveiled under a Section 301 investigation, targets 60 countries and could run alongside existing duties during a transition period.
Protests ahead of the G7 summit in Evian-les-Bains are intensifying as thousands gather in Geneva and Evian. Authorities have deployed thousands of police and tightened security to prevent violence amid warnings about global inequality and climate policy.
The world watches China’s response as it redefines its role in global trade. Premier Li Qiang has framed the shift from China Shock 2.0 to China Opportunity 2.0, arguing that state subsidies are not the main driver of tech rise. Policymakers in Europe and the United States are weighing tougher tariffs and export controls as China’s trade surplus remains at record levels.
The administration has announced a renewed tariff strategy, mirroring early second-term measures, while facing legal scrutiny over forced-labor rules and excess capacity. Tariffs are set to be pressed against several major partners as investigations proceed.
Britain has finalised a new steel imports regime to protect domestic producers from global overcapacity. Tariff-free imports will be cut by 51%, with a 50% tariff on goods outside the quota. The measures align with the EU’s approach to counter overcapacity, while allowing a limited volume of imports from 11 specific products to be exempt from tariffs. The changes are to take effect on 1 July and will be reviewed after 12 months.
A set of articles from Politico, France 24, The Economist and The Economist assess America’s global role, governance, and economic power. They describe a widening accountability gap at home, with implications for allies and the world, as the US faces internal and external challenges.
The collection of articles shows a global reckoning with U.S. governance, accountability, and leadership. The pieces present a divided view of America’s role, its staying power, and how allies and rivals perceive its trajectory as it marks a milestone anniversary.