Data and Financial Journalist
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.
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.
The burgers, stews, and chili on your menu might get pricier. U.S. beef prices have reached record highs amid inflation pressures, supply shortages, and new tariffs on Brazilian imports. With the U.S. cattle inventory at its lowest since 1951 and Brazil facing steep tariff hikes, beef prices may climb even higher in 2025.