Global trade rules, disputes, and reform since 1995
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).
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.
The European Commission has proposed extending free emissions permits and slowing the rate at which caps fall, extending some allowances to 2038 and allowing outside-EU carbon credits from 2036. The shift aims to cushion industry from energy shocks while keeping climate targets in view, triggering debate among member states and green groups.
The UN and world powers are pressing for governance reform as demand for critical minerals rises. Leaders warn that without local processing and stronger rule of law, mining profits will bypass local communities and fuel conflict. New commitments aim to channel wealth into public services and jobs amid a global scramble for cobalt, lithium, nickel and rare earths.
A coalition of 25 US states has filed suit in the US Court of International Trade to stop 10–12.5% tariffs that took effect in July on goods from about 60 trading partners. Plaintiffs say the administration has used forced‑labour claims to recreate broad levies courts have already struck down; the White House says the duties are lawful under Section 301.
Zelensky has visited Belgrade to meet President Vučić as Serbia balances Moscow ties with EU aims. Kyiv seeks logistics and energy cooperation, humanitarian aid, and a path toward EU membership, while Belgrade remains cautious on sanctions against Russia. Serbia pledges support for Ukraine’s resilience and studies a possible free-trade deal.
Canada and the United States have resumed intensive talks to avert steep US tariffs that could take effect this week. Ottawa has offered concessions, including removing a retaliatory auto tariff, while Washington has pressed provinces to lift bans on US alcohol and pushed demands on market access and content rules for autos. Negotiators are still finalising details.
Zhu Rongji has died in Beijing at 98. Xinhua confirms his death after medical treatment failed. He chaired China’s economy as premier from 1998 to 2003, steering reforms that liberalized markets, pushed state firms toward efficiency, and helped secure WTO membership. His tenure coincided with rapid growth and rising inequality, and his legacy is seen differently inside and outside China.
Liberia’s former vice president has denied involvement in a transnational cocaine-trafficking network. Police accuse her of meetings and payments linked to the operation; she has been detained, hospitalized for a medical emergency, and court appearances have been disrupted as the investigation broadens to include foreign suspects and multiple charges.
South Africa is experiencing intensified xenophobic protests and a large-scale migrant repatriation, with political and diplomatic tensions rising as regional governance faces scrutiny. The protests, repatriations, and international responses are shaping the country’s stability amid upcoming local elections.
Chinese President Xi Jinping has arrived in Cairo for a state visit, his first to Egypt in a decade, to mark 70 years of diplomatic ties and sign economic and security agreements. Talks with President Abdel Fattah el-Sisi will focus on Gaza, Red Sea shipping, the Nile dam dispute, AI and expanded Chinese investment in the Suez Canal zone.
Church's Texas Chicken opens first China location in Shanghai, drawing long lines and sparking a side hustle around queueing services. Official data show services spending outpacing goods as catering revenue rises, while McKinsey notes foreign firms must invest to stay relevant in China’s evolving market.
France has launched a levy targeting ultra-fast fashion firms including Shein and Temu as part of a June-backed bill to curb environmental and economic effects. The measure links charges to how much clothing retailers place on the market and the repair cost relative to item price, with per-item fees scaling up to 2030. France argues the policy tackles consumer excess and supply-chain concerns, while critics call it discriminatory and a potential trade barrier.