global trade tensions
US Trade Deficit Narrows to Three-Year Low Following Trump's Tariff Implementation
Dec 12, 2025 02:56 am CST
The US trade deficit unexpectedly contracted to $52.8 billion in September 2023, reaching its lowest level since the COVID-19 pandemic in 2020, as exports rose 3.0% while imports increased just 0.6% following the implementation of President Trump's new tariffs targeting major trading partners including the EU, Japan, and China.
China and ASEAN Upgrade Free Trade Agreement to Counter Global Trade Tensions
Oct 28, 2025 06:48 pm CST
China and ASEAN have signed an upgraded free trade agreement incorporating digital commerce and green economy provisions, strengthening their $771 billion trading relationship amid escalating US tariffs. The 3.0 version enhances market access across agriculture, digital economy, and pharmaceuticals, reinforcing the world's largest trading bloc that covers nearly one-third of global population and 30% of global GDP.