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.

Data and Financial Journalist
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.
U.S. trade deficit shrank to $60.2B in June 2025, the lowest since Sept. 2023, driven by falling imports and rising tariff uncertainty.
Over a quarter of global seaborne oil flows through the Strait of Hormuz—making Asia’s top economies especially vulnerable to any disruption.
Roughly 20% of global oil and LNG flows through the Strait of Hormuz—making any disruption a potential shock to global energy markets.