Desk Report - 12 May 2025
Emerging technological innovations, coupled with shifting geopolitical tensions and economic policies, is greatly bound to influence how countries carry out business with other countries. Since the start of the ongoing trade wars and the global supply chain issues, economies are keen on devising better fallback trade strategies to enhance their adaptability and security.
Alliance restructuring concerning the US, China, and the European Union continues to be a focal point of international relations. The US has recently accused China of unfair trade practices and IP abuse, resulting in the US government enforcing tariffs on select Chinese goods. In retaliation, China has halted export of key raw materials, leading global companies to shift their procurement strategies to Southeast Asia and Africa.
In the meantime, the European Union is pushing forward with a green trade agenda which seeks to promote environmental responsibility by introducing carbon border adjustment mechanisms. While some developing countries have expressed concerns, the initiative has certainly garnered praise.
Countries in Africa and Latin America are actively pursuing regional trade agreements which is expected to greatly bolster intra-regional busines
s ties.