America’s Tariff War Deepens as Dozens of Countries Brace for Revised ‘Reciprocal’ U.S. Tariffs

America’s Tariff War Deepens as Dozens of Countries Brace for Revised ‘Reciprocal’ U.S. Tariffs

After months of negotiations, pauses, and delays, a sweeping new tariff slate took effect Thursday—marking a new era in U.S. trade policy, with import rates reaching their highest levels since the Great Depression.

G7 inflation mapped on one graph

G7 inflation mapped on one graph

In Japan, the only Asian economy in G7,  core inflation rose at its fastest annual pace in over two years, climbing to 3.5% in April, according to data released Friday. I mapped the inflation (with some caveats) to look at the overall inflation trend in G7 economies.

Here are the countries holding the most U.S. debt- explained in 2 charts

Here are the countries holding the most U.S. debt- explained in 2 charts

Foreign investors held $8.8 trillion in U.S. Treasuries as of February 2025—a 10.2% increase from a year earlier, according to the recent U.S. Treasury data. Japan, China, and the U.K. remain the top holders of U.S. debt. Two charts show the major foreign holders as the national debt hits $36.1 trillion.

Even with a 90-day pause, Trump’s tariffs are already hitting Asia. Two charts show the impact.

Even with a 90-day pause, Trump’s tariffs are already hitting Asia. Two charts show the impact.

President Trump’s new tariffs hit Asian exporters the hardest. With a 90-day pause in place, countries like Vietnam and Cambodia seek trade solutions amid rising U.S. trade deficits.