Geopolitical tensions

Total: (Last update: December 19, 2025)

• Chinese Taipei filed a complaint with the World Trade Organization (WTO) over Canadian trade measures, which include a 50 percent surtax on certain steel products and a 25 percent global tariff on some steel-derivative goods. (19/12/2025)
• United States published guidance on the implementation of the deal with Switzerland and Liechtenstein, with reciprocal tariffs retroactively applying from November 14, 2025. (17/12/2025)
• European Union Council adopts mandate on new rules to protect EU steel industry from global overcapacity. (12/12/2025)
• China announced implementation of export license management for some steel products. (12/12/2025)
• Canada implements new measures to protect its steel and lumber industries, further limiting foreign steel imports through tighter tariff-rate quotas, a new 25% tariff on selected steel-derivative products, and the phase-out of temporary tariff remissions. (12/12/2025)
• United States CBP has opened the automobile quota from the UK, starting Jan 1, 2026, as part of the UK-US deal. (12/12/2025)
• European Union introduces customs duties on low-value e-commerce packages, notably, €3 customs duty per item on e-commerce parcels valued below €150, starting in July 2026. (12/12/2025)
• United States announced Section 301 action on Nicaragua, imposing a tariff on all imported Nicaraguan goods that are not originating under the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR). The tariff will be set at zero percent on January 1, 2026 and will increase to 10 percent on January 1, 2027, and to 15 percent on January 1, 2028. (10/12/2025) 
• Switzerland issued a Press Release stating the lowering of U.S. tariffs on Switzerland to 15% from 39%, effective retroactively from November 14. In return, Switzerland will reduce import tariffs on certain fish and agricultural products from the United States. (10/12/2025)
• Mexico's lower house approved tariff hikes on imports from countries with which it has no FTA, as part of the 2026 Economic Package. The proposal would impose or raise tariffs — mostly up to 35 percent — throughout 2026 on goods such as automobiles, auto parts, textiles, clothing, plastics and steel. The plan was first announced in September. (10/12/2025)
• United States President Trump threatens additional tariffs on India over rice dumping claims. (9/12/2025)
• United States President Trump threatens additional tariffs on Canadian fertilizers in attempt to aid U.S. farmers. (9/12/2025)
• United States President Trump threatens 5% tariff on Mexico over water treaty violations affecting Texas farmers. (9/12/2025)
• European Union considers tariffs on China over trade surplus, warns French President Emmanuel Macron. (7/12/2025)
• United States published a Federal Register notice implementing the U.S.–Korea Strategic Trade and Investment Deal, with auto and auto-parts provisions effective retroactively to November 1. All remaining tariff adjustments take effect November 14. The notice also details reciprocal tariff measures—generally setting a 15% floor on duties for Korean-origin goods—as well as sector-specific rules affecting timber and lumber products, civil aircraft and aircraft parts, and certain automobiles and auto parts. (04/12/2025)
• United States and United Kingdom announced the U.S.-U.K. Economic Prosperity Deal. In exchange for the UK’s commitments, including a 25% increase in net drug pricing, the United States has agreed to exempt U.K.-origin pharmaceuticals, ingredients, and medical technology from Section 232 tariffs and not to pursue U.K. pricing practices under Section 301 for the duration of President Trump’s term. (02/12/2025)

Russian invasion of Ukraine 

Total: (Last update: December 1, 2025)

• Lithuanian railways halts transit of oil-related goods of Russian companies Lukoil and Rosneft, including fuel, to Kaliningrad region of Russia due to US and UK sanctions. (21/11/2025)
• Kazakhstan bans exports of crude oil and oil products to all countries for 6 months starting from November 20. (12/11/2025)
• European Union energy ministers approve a stepwise prohibition on both pipeline gas and liquefied natural gas (LNG) imports from Russia starting January 1, 2026, with a full ban to apply from January 1 2028. (20/10/2025)
• United Kingdom announces a new sanctions package against Russia, including banning imports of oil products refined in third countries using Russian-origin crude oil. (16/10/2025)
• European Union publishes origin guidance on the ban of refined products obtained from Russian crude oil starting January 16, 2026. (16/10/2025)
• Russia extends fuel export ban until end of 2025. (16/10/2025)
• Russia removes 5% tariff on imports of petroleum products until mid-2026. (16/10/2025)
• Kyrgyzstan bans exports of crude oil and petroleum products. (08/10/2025)
• European Union adopts 18th package of trade sanctions against Russia including refined petroleum oil products  ban via third countries, lowered price cap for Russian seaborne crude oil from $60 to $47.6 per barrel, and expanded export ban list with high-technology items such as computer numerical control (CNC) machines and constituent chemicals for propellants. (18/07/2025)
• Serbia suspends all exports of weapons and military equipment manufactured in Serbia. (25/06/2025)