On July 9, 2025, the global economy turned its attention back to the United States as the 90-day moratorium on the so-called 'Liberation Day tariffs' expired. These measures, previously proposed by the U.S. administration, involve significant duties on the import of strategic goods such as copper, semiconductors, and pharmaceuticals. The tension stems from the U.S. ramping up its protectionist policies aimed at shielding domestic producers and reducing reliance on foreign supply chains. According to reports, the White House is considering extending the pause until August 1 but has simultaneously started notifying allies about the upcoming review of tariff policies. This includes the EU, Japan, South Korea, and BRICS countries. The consequences were swift. Copper prices surged amid fears of trade contraction and supply disruptions. Markets showed high volatility, and stocks of commodity-related and tech firms dropped. Meanwhile, China reported its economy would exceed $19.5 trillion in 2025, underlining its global role. However, rising trade barriers with the U.S. could impact even China's growth. The IMF concluded Article IV consultations with Iraq, showing the importance of macroeconomic oversight in vulnerable economies. India launched a ₹1 trillion reverse repo auction to stabilize domestic liquidity. These developments reflect growing global economic fragmentation. Against this backdrop, U.S. tariff threats emerge as a key instability trigger. Sources: 1. https://www.reuters.com/world/asia-pacific/japan-south-korea-seek-soften-tariff-blow-before-august-deadline-2025-07-08/?utm_source=chatgpt.com 2. https://www.imf.org/en/News/Articles/2025/07/08/pr-25243-iraq-imf-executive-board-concludes-2025-article-iv-consultation?utm_source=chatgpt.com 3. https://www.reuters.com/markets/asia/china-economy-exceed-195-trillion-this-year-says-state-planner-2025-07-09/?utm_source=chatgpt.com 4. https://www.reuters.com/sustainability/boards-policy-regulation/india-central-bank-announces-two-day-rate-reverse-repo-auction-july-9-2025-07-08/?utm_source=chatgpt.com