Global Economy News
LAST UPDATE: July 11, 2025
IMF says new US tariffs keep trade uncertainty running high
The IMF warned that the recent wave of U.S. tariffs, which are at century‑high levels, continues to create significant trade uncertainty. It noted that while growth forecasts were cut in April, further trade tensions could suppress global growth. U.S. officials maintain the tariffs have had limited inflation impact, offset by tax cuts.
Insight
The IMF’s warning highlights the fragility of global trade conditions. Persisting tariff risks could deter investment and trigger policy responses from central banks and governments worldwide.
Russia says BRICS is not anti-American
Deputy FM Sergei Ryabkov stated that BRICS is not anti-American and criticized U.S. threat of additional tariffs against the bloc. He emphasized that dialogue, not threats or manipulation, should define relations.
Insight
Moscow is reframing BRICS as cooperative rather than confrontational, attempting to defuse U.S. rhetoric and maintain diplomatic space. The response also signals Russia’s backing of a multipolar order.
UN says US sanctions on expert sets ‘dangerous precedent’, must be reversed
The UN Human Rights Council and Secretary-General’s office condemned U.S. sanctions on UN Special Rapporteur Francesca Albanese regarding her reporting on occupied Palestinian territories. UN officials called the action a “dangerous precedent” and urged immediate reversal.
Insight
The move highlights growing friction between national policies and UN mandates. Sanctioning UN experts could undermine independent human rights oversight and weaken international norms.
