INSIGHTS The global economy is projected to grow at 2.7 per cent in 2025, down from 3.2 per cent in 2024, with the US economy stalling due to new tariffs and policy uncertainty. Inflation is expected to peak at 4.5 per cent, while unemployment rises. Canada and Mexico face challenges from US trade actions, and China's growth falls short of targets. Risks to the outlook remain, including a potential US recession. The global economy remains on track to grow this year, but the outlook has deteri

INSIGHTS High US tariffs on goods from China will “come down substantially, but it won't be zero”, President Donald Trump said yesterday. “We're doing fine with China,” he said. Trump's remarks followed reported comments at a private conference by treasury secretary Scott Bessent earlier in the day about the high tariffs being 'unsustainable' and that he expects a 'de-escalation' in the US-China trade war. High US tariffs on goods from China will “come down subst

INSIGHTS China's e-commerce sector grew steadily in Q1 2025, supported by pro-consumption policies like a major trade-in programme. Online retail sales hit 3.6 trillion yuan (~$499.6 billion), with physical goods up 5.7 per cent and digital product sales rising 7.4 per cent. Over 10 e-commerce platforms helped bring quality foreign trade goods to domestic markets. China's e-commerce sector witnessed steady growth in the first quarter of 2025 (Q1 2025), driven by government efforts to stimula

INSIGHTS IAF has warned against the damaging impact of US punitive tariffs on global apparel supply chains, especially affecting China. While welcoming a partial pause, IAF has stressed that tariff uncertainty continues to destabilise the industry, discourage investment, and threaten livelihoods. It has called for collaborative, sustainable supply chain strategies and urges brands to honour commitments. The International Apparel Federation (IAF) represents the apparel manufacturing community

INSIGHTS While the pause on US reciprocal tariffs led to strong initial rebounds in financial markets, market conditions remain choppy and risk aversion is high, S&P Global Market Intelligence said. The chronic problems of US policy volatility, related uncertainties and adverse economic spillovers are likely to linger. It lowered its 2025 global real GDP growth forecast from 2.5 per cent to 2.2 per cent. While the pause on US reciprocal tariffs led to strong initial rebounds in financial m

INSIGHTS After a strong 2024 performance, global trade is now facing headwinds from a tariff surge and rising trade policy uncertainty, a WTO blog said. The world merchandise trade volume may fall by 0.2 per cent this year, with a modest 2.5-per cent recovery likely in 2026. World GDP is now expected to grow by 2.2 per cent in 2025—0.6 pps below the baseline prediction—before reaching 2.4 per cent in 2026. Following a strong performance in 2024, global trade is now facing headwind

INSIGHTS Viral TikTok videos are prompting US consumers to buy goods directly from Chinese factories, bypassing tariffs. Creators claim major brand items like Lululemon leggings can be sourced for $5–6. Lululemon has refuted such claims, stressing its controlled distribution. The trend emerges amid heightened US-China trade tensions, with reciprocal tariffs now at 125 per cent. A new wave of viral TikTok videos is shaking up US-China trade dynamics, as Chinese content creators encourage

INSIGHTS Chinese exports to the US now face up to 245 per cent tariffs due to China's retaliatory actions and suspension of key rare earth exports to the US, President Trump has said in an Executive Order. A universal 10 per cent tariff and reinstated 25 per cent steel and aluminium duties form part of Trump's 'America First' agenda. A Section 232 probe into critical mineral imports is also underway. China now faces up to 245 per cent tariffs on its exports to the US as a result of its retali

INSIGHTS European Commission President Ursula von der Leyen condemned President Trump's announcement of universal US tariffs, warning of severe global economic fallout, rising inflation, and harm to consumers and businesses. She stressed the EU's readiness to negotiate but confirmed preparations for countermeasures. Emphasising European unity and resilience, she pledged support for impacted industries. In a response to sweeping new US trade measures, European Commission President Ursula von d

INSIGHTS Several Chinese government departments, trade associations and enterprises have started taking action to help export-oriented businesses tap into the vast domestic market in light of the imposition of US reciprocal tariffs. The China Chain-Store & Franchise Association and seven other industry associations jointly announced an initiative to promote better integration of domestic and foreign trade. Several Chinese government departments, trade associations and enterprises have sta