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US-ally trade wars

US-ally trade wars
The latest news, analysis and opinion on US-ally trade wars. In-depth analysis, industry insights and expert opinion.
India’s Prime Minister Narendra Modi (right) meets Russia’s President Vladimir Putin in New Delhi, India, on December 5, 2025. Photo: Sputnik/Reuters
India

India’s 30-day Russian oil waiver comes with a steep US price tag

Washington has granted New Delhi a brief waiver for stranded Russian crude – but expects it to ramp up American oil purchases in return.

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China-EU relations

Get realpolitik? Von der Leyen questions Europe’s faith in rules-based order

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Indonesia

Indonesia’s US trade deal faces a sovereignty reckoning at home

United States

US tariff refund system to be ready in 45 days, after Trump duties struck down

The US customs agency is trying to hammer out a process for returning US$166 billion in tariff ‌payments to around 330,000 importers.

A US flies in front of shipping containers at the Port o Los Angeles in June 2025. Photo: TNS
Donald Trump

Trump’s 15% global tariffs likely to start this week, US Treasury chief says

US president imposed a 10 per cent levy after the Supreme Court invalidated his previous measures, then threatened to raise it further.

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US, Israel war on Iran

Global stock sell-off slams Wall Street as oil prices leap on Iran war woes

The Dow ended down 403 points, after plunging over 1,200 earlier in the day.

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Donald Trump

US appeal court denies Trump bid to delay tariff refund lawsuits

The tariffs, which had been ruled illegal by the high court, had generated more than US$130 billion for the US government as of late 2025.

US President Donald Trump at the White House in Washington on Monday. Photo: Reuters
US-China relations

Editorial | China now holds more cards ahead of Xi-Trump meeting

US Supreme Court reversal of Trump’s tariffs leaves China with lower tariffs and US deals with allies in doubt.

Japan

Macroscope | Why Japan should push back on Trump’s investment demands

Trump’s use of tariff threats to strong-arm foreign governments, companies and investors into funding US projects should be resisted.

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United States

US seeks delay on tariff refund court hearing, faces above 2,000 lawsuits

Lawyers for companies seeking tariff refunds have been pushing the courts to speed up the process.

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Several US Supreme Court Justices look on as US President Donald Trump delivers the State of the Union address in the US Capitol in Washington on Tuesday. Photo: TNS
Vietnam

Opinion | Southeast Asia, do not mistake Trump’s tariff defeat for a reprieve

One court loss won’t end the trade wars. But if ‘Peak Trump’ has arrived, the region’s negotiating hand may have just got stronger.

Vietnamese workers stitch apparel at a garment factory in Thai Nguyen province on July 2, 2025. Photo: AFP
Taiwan

As I see it | Taipei must break free of its abusive relationship with Washington

US President Donald Trump’s tariff blitz is not Taiwan’s fault, but the self-ruled island must come to see that Washington is unreliable.

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US-China trade war

After Trump’s tariff setback, will US firms rush to stockpile Chinese goods?

Front-loading expected but not at levels seen ahead of last year’s sweeping “Liberation Day” duties, analysts say.

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India

India in limbo over Russian oil imports as talks with US on trade deal continues

Washington has previously tied lower tariffs on Indian exports to the US to New Delhi’s commitment to curb its purchases of Russian oil.

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Tanks belonging to Transneft, a Russian state-owned company that operates the country’s oil pipelines, at an oil terminal in Ust-Luga. Photo: dpa
Los Angeles protests

Canada cannot replace US with China, Carney’s Conservative rival says

Pierre Poilievre outlined his vision for Canada’s relationship with the US after the prime minister’s recent outreach to Beijing.

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Canadian Conservative leader Pierre Poilievre on Thursday. Photo: The Canadian Press via AP
China-EU relations

China-EU trade ties are at a crossroads. Could tech bridge the divide?

A hostile Washington is creating openings for a reset – but deep-seated issues remain, analyst says.

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US-China trade war

US to keep China tariffs steady ahead of key Trump-Xi meeting: Greer

Trade envoy confirms levies on Chinese goods to remain within range of 35 per cent to 50 per cent depending on the product as tensions ease.

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China trade

Trump’s USMCA exit threat seen pushing Canada into China’s arms

Analysts expect Ottawa to diversify trade as future of North American trade pact remains uncertain, while a US departure would ‘hit Canada like an earthquake’.

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Canadian Prime Minister Mark Carney appears alongside President Xi Jinping at the Great Hall of the People in Beijing on January 16. Photo: Reuters
India

India and Brazil set sights on US$30 billion trade milestone by 2030

The two founding Brics members are deepening links on rare earths, innovation and AI to diversify growth beyond the West.

Japan

No takebacks: Japan wants US to stick to trade deal amid tariff turmoil

Japan could see extra tax burdens on some goods if Trump’s new 10 per cent tariffs were to be applied unilaterally, the trade minister said.

China trade

Open Questions | Abraham Newman on how world can resist US, China economic coercion

Threatening rivals’ economic choke points is nothing new, but Trump has politicised it, political scientist says. He suggests ways countries and companies can respond.

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Illustration: Lau Ka-kuen
US-China trade war

Trump lashes out at US Supreme Court, rolls out new 10% global tariffs

Decision threatens administration’s trade agenda; casts shadow on Xi-Trump summit as some China tariffs wiped out before Beijing talks.

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US President Donald Trump delivers remarks on so-called reciprocal tariffs during an event at the White House last April. Photo: AFP
China trade

China defends WTO’s ‘equal treatment’ rule – what it means for global trade

Beijing warns that ending non-discrimination in global trade rules could see powerful countries dominate smaller ones.

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Trade

Outside In | Try as it might, the US alone can’t reverse the tide of globalisation

Accounting for a significant share of world trade, Europe and Asia are far more decisive players in the fast-changing globalised economy.

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US-China relations

Former Biden official says US must work with allies to counter China

Kurt Campbell warns Trump’s strategy risks weakening Washington leverage as policy machinery erodes and Beijing sharpens its approach.

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Kurt Campbell, former US deputy secretary of state and a key architect of Washington’s Indo-Pacific strategy, at an event in 2023. Photo: Getty Images
Diplomacy

Opinion | The 21st-century order has outgrown 20th-century institutions

Despite international tensions, countries still seek cooperation based on shared interests. Institutions must embrace this trend.

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Illustration: Craig Stephens
US-China trade war

US trade deficit widens sharply in December, testing Trump tariff claims

Trade with China remains a major driver of the US deficit, even as imports shift towards Southeast Asia and other partners.

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United States

Trump tells Starmer ‘do not give away Diego Garcia’ in new attack on Chagos deal

President says the UK should not lose control of Indian Ocean island by entering ‘tenuous’ lease, amid concerns about China’s growing ties there.

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