Air cargo shipments from Asia to the United States have plunged in the wake of Washington’s decision to end a longstanding tax exemption for low-value packages from China, underscoring how rapidly shifting U.S. trade policy is reshaping global supply chains and pinching the booming cross-border e-commerce sector.

Data from the International Air Transport Association (IATA) revealed that air freight volumes on the Asia-North America corridor fell 10.7% in May compared to the same month last year, reflecting the dampening effect of shifting U.S. trade policies.

A newly unveiled trade agreement between Washington and Hanoi is sowing uncertainty for major sportswear brands and apparel retailers that have relied on Vietnam to diversify away from Chinese manufacturing. The deal — which imposes a 20% U.S. tariff on many Vietnamese exports and a punitive 40% levy on transshipped goods routed through Vietnam from third countries — is forcing companies to reassess the wisdom of their long-running supply chain shifts.

Vietnam has been the standout beneficiary of Western brands’ efforts over the past decade to reduce overdependence on Chinese factories. Lower labor costs, trade-friendly policies, and a stable production environment propelled it to become a critical hub for the footwear and apparel industry.

Europe’s companies and investors remain wary of fresh public listings even as volatility recedes and capital floods back into equity markets, with geopolitical uncertainty and trade risks casting long shadows over IPO pipelines across the region.

While global markets have largely stabilized since the tremors caused by U.S. President Donald Trump’s sweeping tariff threats in April — and the subsequent partial reprieve — many investors are still reluctant to jump into new offerings, particularly amid persistent concerns over the conflict between Israel and Iran and broader tensions across the Middle East.

China has responded to European Union trade restrictions on its medical device companies with its own selective measures, in a move that underscores growing friction but stops short of a broad escalation. The tit-for-tat step comes just ahead of a crucial EU-China summit, clouding prospects for a thaw in relations already strained by disputes over electric vehicles, rare earths, and Beijing’s closeness to Moscow.

On Sunday, Beijing announced that it would bar European medical device manufacturers from participating in Chinese government procurement tenders for specific categories of equipment. However, in a significant caveat, products made inside China — even by European multinationals — would continue to be eligible for state contracts.

Global supply chains are already straining under the weight of China’s export restrictions on rare earths, gallium and other specialty minerals. But an even larger and more systemic threat is emerging: the slow-motion crisis engulfing Western metal smelters.

As China’s relentless expansion in processing capacity drives treatment fees to rock-bottom — or outright negative — levels, plants from Namibia to Australia are shutting down. The outcome could cement Beijing’s dominance not just over niche critical minerals, but over the entire industrial metals value chain.

In a sign of growing alarm over a more volatile world, the European Union is moving toward building up strategic reserves of critical minerals, seeking to buffer its industrial backbone against disruptions triggered by geopolitical rivalries, cyberattacks and environmental upheavals.

According to a draft European Commission document slated for release next week, Brussels is preparing to lay out a roadmap for stockpiling key raw materials vital to Europe’s high-tech and clean energy ambitions. The move underscores how the EU is recalibrating its economic security strategy in response to what it sees as an increasingly perilous global landscape.

As global investors approach U.S. President Donald Trump’s self-imposed Wednesday deadline for unveiling a new wave of trade tariffs, the mood across markets is remarkably steady—almost indifferent. With the first notices on duty levels already landing in capitals from Jakarta to Brussels, traders and portfolio managers appear resigned to the belief that most outcomes are already priced in and that truly disruptive scenarios are unlikely to materialize.

Trump’s so-called “Liberation Day” tariff strategy, unveiled on April 2, had initially sent shockwaves through financial markets. But after months of anticipation—and repeated signals from Washington that negotiations were fluid—investors have come to see these deadlines more as negotiating tactics than firm drop-dead dates.

In a notable pivot that underscores shifting dynamics in global oil markets, OPEC and its allies have agreed to ramp up production by 548,000 barrels per day (bpd) in August, marking a faster pace of supply increases as the group navigates a landscape reshaped by geopolitical tensions, resurgent rival output, and direct pressure from Washington.

This decision, made at the coalition’s latest ministerial gathering on Saturday—the first since oil prices surged and then stabilized following military strikes by Israel and the U.S. against Iran—signals OPEC+’s intent to recapture market share even as it continues to balance the fragile economics of supply restraint.