Trade War Daily News: Global Tensions Escalate Amid New Tariff Measures

As of June 2, 2025, the global trade landscape is marked by escalating tensions and new tariff implementations, affecting various industries and international relations.

U.S. Imposes New Tariffs on Steel and Aluminum Imports

The United States has announced plans to double tariffs on steel and aluminum imports to 50%, intensifying trade disputes with the European Union and China. The EU has threatened retaliation, while China accuses the U.S. of violating a recent trade truce. (reuters.com, apnews.com)

China Criticizes U.S. Actions as Breach of Trade Truce

China has strongly criticized recent U.S. actions, including AI chip export restrictions and halting the sale of chip design software, as violations of a recent trade truce. The Chinese Commerce Ministry warns of potential retaliatory measures to protect its interests. (apnews.com)

OECD Warns Against Aggressive Reshoring of Supply Chains

The OECD cautions that aggressive reshoring of supply chains in response to geopolitical tensions could significantly harm global trade and GDP. The organization recommends embracing openness and geographical trade diversification to better manage disruptions. (ft.com)

Colorado's Outdoor Industry Faces Challenges Due to Tariffs

Colorado's outdoor industry is experiencing financial strain due to tariffs stemming from the U.S. trade war. Industry leaders report increased costs, price hikes, and potential layoffs, highlighting the sector's dependence on global supply chains. (axios.com)

North Macedonia Proposes Zero Tariffs on U.S. Goods

North Macedonia has announced plans to eliminate all import tariffs on U.S. goods, aiming to foster a reciprocal agreement with the U.S. administration. This move seeks to encourage the U.S. to remove its tariffs on North Macedonian goods. (apnews.com)

Global Trade Tensions Escalate Amid New Tariff Measures:

• China says US moves on computer chips and student visas 'seriously violate' tariffs truce, Published on Sunday, June 01

• Aggressive reshoring of supply chains risks significant GDP loss, warns OECD, Published on Monday, June 02

• Colorado's outdoor industry suffering from trade war, Published on Monday, June 02