Geopolitical & Conflict

Tariff Tensions:

The global trade landscape is dominated by new US tariff announcements. President Trump has announced 30% tariffs against Mexico and the EU, set to begin on August 1st. This comes after previous tariffs on various countries, including Canada (35%), Brazil (50%), Iraq, and the Philippines, causing concern among trading partners and raising fears of a broader trade war. The EU has delayed its retaliatory tariffs on US goods in hopes of reaching a deal.

Middle East Conflicts:

The Gaza war continues with significant casualties reported. Israeli strikes have killed dozens of Palestinians, including children, as operations continue. There are also reports of Israeli settlers killing two Palestinians in the West Bank. An ongoing conflict between Israel and Iran is reshaping the Middle East geopolitical landscape, with both sides conducting strikes and concerns about potential escalation.

Ukraine War:

The conflict in Ukraine remains active, with Russia's invasion continuing. There are reports of Russia's Foreign Minister meeting with Kim Jong Un in North Korea, where North Korea has "reaffirmed their support for all objectives" in the Russia-Ukraine war. The US has stated it will send Patriot missiles to Ukraine.