Global Economy News
LAST UPDATE: June 13, 2025
NATO chief hopeful of spending deal as meets allies in Rome
NATO Secretary-General Mark Rutte expressed confidence in reaching an agreement on defense spending in upcoming summits, urging members to aim for 3.5% of GDP by 2032 and 1.5% for broader security
Insight
As U.S. pressure mounts and Russian threats grow, Europe is being pushed to financially step up. Rutte’s optimism signals momentum toward a consensus before critical June summits.
‘We show up’: Pacific leaders apply pressure at oceans summit
Leaders from Pacific island nations urged wealthy states at the UN Ocean Conference to increase funding and support for ocean conservation and climate resilience
Insight
Pacific countries are leveraging moral influence to compel richer nations to contribute concretely, potentially shaping future marine protection funding frameworks.
India, US Harden Stance in Trade Talks as July Deadline Looms
With a July 9 deadline approaching for pausing reciprocal tariffs, both sides have toughened their positions: India seeks exemptions on steel, autos, and pharma, while the U.S. demands concessions elsewhere
Insight
The hardened positions heighten risk of a breakdown. India is safeguarding key export sectors, while the U.S. leverages the tariff deadline to extract deeper commitments.
Xi Plays Long Game on US-China Trade as Trump Seeks Quick Wins
Xi Jinping secured an agreement structure that extends negotiations and defers more punitive measures, countering Trump’s approach for swift outcomes in London talks
Insight
Xi’s patient, strategic policy allows China to manage economic risks and preserve flexibility, whereas the U.S. push for quick results may limit long-term gains.
No wide-ranging statement expected after G7 summit in Canada, says German official
A German government spokesperson stated that the upcoming G7 summit in Canada (June 15–17) is unlikely to produce a broad joint communique. Instead, the focus is expected on specific areas like Russia sanctions alignment and finance cooperation (marketscreener.com)
Insight
The pared-down agenda reflects diverging priorities among G7 members, especially on trade and sanctions. Germany’s posture suggests an emphasis on realistic, outcome-focused language rather than ambitious broad statements.
IMF says July Forecasts to Take Into Account Trade Deals, Uncertainty
The IMF announced that its July World Economic Outlook will reflect recent trade developments—like U.S.–China tariff reductions and preliminary trade agreements—but will also factor in elevated risks from remaining barriers and policy uncertainty
Insight
Incorporating these variables indicates the IMF is taking a balanced view—ready to adjust growth projections upward if deals go through, but cautious about downside risks from stalled negotiations or new tariffs.
