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U.S. Tariffs Spark Global Trade Tensions and Uncertainty

5/29/2025

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Summary

Story summary

The U.S. "Liberation Day" tariffs, unveiled in April, are set to transform global trade dynamics, igniting retaliatory actions and hinting at a move towards deglobalization. Wood Mackenzie presents three potential futures by 2030: a trade truce, escalating tensions, or an outright trade war, each with profound implications for global GDP, oil demand, and investment, leaving the fate of supply chains and climate goals hanging in the balance.

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Story summary

The U.S. "Liberation Day" tariffs, unveiled in April, are set to transform global trade dynamics, igniting retaliatory actions and hinting at a move towards deglobalization. Wood Mackenzie presents three potential futures by 2030: a trade truce, escalating tensions, or an outright trade war, each with profound implications for global GDP, oil demand, and investment, leaving the fate of supply chains and climate goals hanging in the balance.