International Analysis
On October 1, 2025, the U.S. federal government officially entered a shutdown after Congress failed to pass the new fiscal year budget or a continuing resolution. As of October 10, the shutdown has lasted nearly ten days, with the Senate holding seven votes on the continuing resolution, all of which
U.S. Lowers EU Auto Tariffs to 15%, Trade Deal Enters Execution Stage
On September 24, 2025, local time, the U.S. Department of Commerce and the Office of the U.S. Trade Representative jointly issued a statement formally confirming that tariffs on EU-imported automobiles will be reduced from the current 27.5% to 15%, with the adjustment retroactive to August 1, 2025.
The Mitigating Effect of the U.S.-China Madrid Trade and Economic Talks
On September 14, 2025, local time, Chinese and U.S. delegations held the first day of trade and economic talks in Madrid, Spain. The discussions were led by Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Scott Besant. Key agenda items included U.S. unilateral tariff measures, the misuse
Prime Minister Shigeru Ishiba Resigns — What’s Next for Japan?
Japanese Prime Minister and Liberal Democratic Party (LDP) President Shigeru Ishiba announced his resignation on September 7, 2025, bringing an end to a tenure of less than one year. The decision triggered turbulence in Japan’s political landscape and financial markets, as the LDP’s recent string of
Trump Administration Appeals to Supreme Court: Dispute Over Tariff Legality and Its Implications
On September 3, 2025, the Trump administration formally petitioned the U.S. Supreme Court to overturn a July 29 ruling by the U.S. Court of Appeals for the Federal Circuit, which decided 7-4 that the administration’s imposition of tariffs on multiple countries under the International Emergency Econo
Cook Files Lawsuit Against Trump: A Legal and Institutional Test of the Fed's Independence
On August 28, 2025, Federal Reserve Governor Lisa D. Cook filed a lawsuit in the U.S. District Court for the District of Columbia against former President Donald J. Trump, Federal Reserve Chair Jerome H. Powell, and the Board of Governors of the Federal Reserve System itself. The legal action seeks
U.S.-China Agricultural Trade: Soybeans, Tariffs, and Global Market Implications
In August 2025, U.S.-China trade negotiations resumed in Washington, with China’s Vice Minister of Commerce Li Chenggang and U.S. Trade Representative Jamison Greer engaging in intense discussions over soybean procurement, rare earth supplies, and semiconductor export restrictions. This round of tal
U.S. Tariffs Heighten Pressure on Japan's Economy, Complicating BOJ's Policy Decisions
Bank of Japan Board Member Naomi Nakagawa stated on August 28, 2025, that significant uncertainty remains regarding U.S. tariff policies and their impact on the Japanese and global economies. This uncertainty is emerging as one of the largest external risks to Japan’s economy, compelling the central
Inflation Signals Under Trump’s Tariff Pressures
Although the Trump administration’s “reciprocal tariffs” directly pushed up import prices, inflationary pressure has not erupted all at once in the short term but has emerged more gradually.Lower-than-expected effective tariff rates, optimized product structures, and inventory buffers have ease
90-Day Extension of US-China Tariff Truce: Short-Term Easing, Long-Term Risks Remain
On August 11, 2025, U.S. President Donald Trump signed an executive order extending the tariff pause on China for 90 days, which was originally set to expire that day. This decision means the tariff easing maintained since the May Geneva Joint Statement between the U.S. and China will temporarily co
Trump Demands Drug Price Cuts, Pharma Stocks Under Pressure: Opportunity or Risk?
On July 31, 2025, U.S. President Donald Trump sent formal letters to 17 global pharmaceutical giants, including Pfizer, Johnson & Johnson, Novartis, and AstraZeneca, demanding that they lower U.S. drug prices to the lowest levels among developed countries within 60 days. The letters also outlined mu
U.S.-China Trade Talks Resume — A Key Focus for Markets
On July 28, 2025, a new round of U.S.-China trade talks was held in Stockholm, the capital of Sweden. This marked the third meeting between the two sides in three months, following earlier talks in Geneva and London.
What You Need to Watch Regarding the Latest Trump Tariff Updates
What You Need to Watch Regarding the Latest Trump Tariff Updates
EU and US May Reach Trade Accord, Easing Tariff Tensions Ahead of Suspension Deadline
As the July 9 deadline approaches for the United States’ 90-day suspension of the “reciprocal tariff” policy, the EU and U.S. are intensifying trade negotiations in an effort to avoid an escalation in tariffs. As of June 17, 2025, the average effective U.S. tariff rate had dropped to 15.8%, down fro
Will US-China Tariff Relief Shift the Fed’s Policy Course?
The rollback of U.S.-China tariffs significantly reduces the risk of friction between the world’s two largest economies, easing global trade tensions
