The International Monetary Fund (IMF) has revised Thailand's economic growth projection downward by 0.6-0.7 percentage points due to factors such as increased US tariffs, reduced exports, and a global economic slowdown. The IMF attributes these weaknesses to structural issues including high household debt levels, underinvestment in human capital, and an aging population. To address these challenges, the IMF recommends policy measures such as resolving trade tensions, diversifying trade partnerships, and implementing structural reforms to enhance productivity. Thailand is advised to shift its economy from relying on tourism and low-value exports to upgrading existing industries like medical tourism, high-value financial services, and advanced manufacturing goods.
https://www.thailand-business-news.com/economics/218016-imf-lowers-thailands-2025-growth-projection-to-1-8-highlights-four-major-economic-risksIndia has informed the WTO of its decision to impose duties on 29 US goods, including boric acid, steel products, and antifreeze, in response to a 25% tariff increase on steel and aluminum imports by the US. The move is expected to bring $1.91 billion in revenue for India, equaling the increased cost of importing American steel and aluminum. The decision comes after the US failed to consult with India prior to raising tariffs, which were justified as a measure to protect US national security.
https://www.fakti.bg/en/biznes/970672-india-imposes-duties-on-29-us-goodsIndia's proposal for retaliatory import duty on certain US products may cast a shadow over ongoing trade pact talks with the US, according to think tank GTRI. If the US engages in consultations or withdraws tariffs, a resolution may be reached. However, if not, India's duties could take effect in early June, potentially impacting US exporters and deepening trade frictions.
https://www.deccanchronicle.com/nation/indias-retaliatory-tariff-proposal-may-cast-shadow-on-trade-pact-talks-with-us-gtri-1878564Iran has used a network to ship billions of dollars' worth of oil to China, but its efforts have been undermined by US sanctions, according to Iranian Foreign Ministry spokesperson Esmaeil Baghaei.
https://www.thenews.com.pk/latest/1311227-us-slaps-sanctions-on-network-shipping-iranian-oil-to-chinaNgozi Okonjo-Iweala, director-general of the World Trade Organization (WTO), urged Japan to support the multilateral trading system amid disruptions caused by US President Donald Trump's tariffs and policies. The WTO played a crucial role in promoting open markets, which facilitated global supply chains anchored in China. In contrast, China's leader Xi Jinping announced plans to strengthen ties with Latin America through economic, academic, and security exchanges, promising to boost imports from the region and encourage Chinese investments. China has been rapidly expanding its trade with Latin America, exceeding $500 billion last year, and will provide a 66 billion yuan credit line to support financing in the region.
https://www.boston25news.com/news/world/china-seeks-united/7XB7OYLFAFDVFO5D56CRWWVJVQ/European leaders are urging US President Donald Trump to impose punitive measures on Russia if Vladimir Putin refuses to meet with Ukrainian President Volodymyr Zelensky or if Russia does not agree to an immediate and unconditional ceasefire in Ukraine. However, the US administration has yet to make a final decision on imposing anti-Russian sanctions, according to reports.
https://www.fakti.bg/en/world/970560-bloomberg-us-to-wait-for-talks-in-istanbul-before-imposing-new-sanctions-on-russiaThe US and China have agreed to lower their tariffs for 90 days as part of new trade negotiations. China will reduce its tariffs on American imports to 10%, while the US will lower its tariffs on Chinese goods to 30%, including a 10% baseline tariff and a 20% tariff imposed by President Donald Trump earlier this year to curb fentanyl smuggling into the US.
https://krcgtv.com/news/nation-world/trump-details-of-final-china-trade-deal-are-gonna-take-awhile-tariffs-geneva-terms-of-trade-imports-cars-steel-aluminum-pharmaceuticals#The US and China have temporarily reduced tariffs on each other's goods, with the US lowering its rates on Chinese imports to 30% from 145%, and China reducing its rates on US exports to 10% from 125%. The truce is set to last for 90 days as trade negotiations between the two countries continue.
https://nypost.com/2025/05/13/business/china-lifts-boeing-ban-as-deal-eases-trade-tensions-report/The US and China have agreed to a 90-day tariff pause, reducing tariffs from 145% to 30% on top of sectoral and Section 301 tariffs, and Chinese tariffs on US goods from 125% to 10%. This move is seen as a positive step to ease inflation and bolster economic prospects, but it does not undo the significant damage already inflicted by elevated costs, disrupted supply chains, and weakened US credibility with allies. The rollback marks a welcome change, but many details remain unresolved, and the ongoing reliance on an erratic trade policy continues to undermine long-term economic resilience and US global leadership.
https://www.csis.org/analysis/understanding-temporary-de-escalation-us-china-trade-war