Data and Financial Journalist
Beginning midnight, Oct. 14, 2025, imports of select wood and furniture items—including softwood, kitchen cabinets, bathroom vanities, and upholstered furniture—face new Section 232 tariffs, targeting imports of timber, wood products, furniture, and cabinetry.
Despite sanctions, Russia’s crude oil exports remain steady. Trade flows have pivoted from Europe to Asia, with China and India now the top buyers. India’s growing imports—and its refusal to join Western sanctions—have triggered steep new U.S. tariffs.
U.S. trade deficit shrank to $60.2B in June 2025, the lowest since Sept. 2023, driven by falling imports and rising tariff uncertainty.
Israel’s strikes on Iran’s strategic sites have sent Brent crude and gold prices sharply higher, while potential threats to Kharg Island and the Strait of Hormuz chokepoints could force shipping reroutes, risking wider global supply-chain disruptions.