Trump Tariffs
Geopolitics
Macro
Malaysia Kills US Trade Deal, Exposing Trump’s Tariff Framework Collapse
First high-profile defection signals cascading unraveling of bilateral agreements after Supreme Court ruling stripped legal foundation.
Energy
Macro
Powell Attributes Persistent Inflation to Trump Tariffs as Energy Shock Stalls Rate Cuts
Fed chair quantifies tariff pass-through at 0.5–0.75 percentage points while Middle East crisis creates impossible policy bind between baseline inflation and demand destruction.
Geopolitics
Washington Locks Indonesia Into Trade Orbit as Nickel Becomes New Leverage Point
US-Indonesia reciprocal trade pact delivers concrete friend-shoring gains in critical minerals, testing whether tariff diplomacy can durably reshape supply chains dominated by Chinese capital.