Global Scans · Trade · Weekly Summary

WHAT'S NEXT?: Global trade policies could be upended with a new President in the White House, Brexit, a potential break-up of the European Union and China reacting to these changes in profound ways.

• [New] The world in 2026 will experience the impact of heightened geoeconomic competition as the two major trading powers; the US and China continue to use tariffs and export controls to reshape the global economy to their advantage. ORF Middle East
• [New] As trade between countries of the Global South grows in 2026, connectivity projects such as the India-Middle East-Europe Economic Corridor (IMEC), 24 Masterplan on ASEAN Connectivity 2025, and South Connection linking eleven countries of Latin America will receive a boost. ORF Middle East
• [New] Global South countries will pursue opportunities for free trade agreements with major developed economies, such as the one between the UK and India, strategically leveraging their markets and comparative advantage in global value chains. ORF Middle East
• [New] As access to developed country markets becomes more restricted, Global South countries will expand trade through bilateral agreements, regional blocs and multilateral groupings such as the G20 and BRICS. ORF Middle East
• [New] In 2026, countries of the Global South with large critical mineral reserves such as Indonesia and Mexico will leverage their access to natural resources in exchange for lower tariffs and greater investment in domestic processing and manufacturing sectors. ORF Middle East
• [New] The cooler-than-expected reading supports Banxico's easing cycle and suggests the tariff pass-through to domestic prices remains muted. / Mexico The Rio Times
• [New] Mexico has a network of 11 free trade agreements with 45 countries which boosts opportunities, innovations, and R&D efforts in Mexico. Towards FnB
• [New] South Korea's auto giants see share prices soar after announcing major AI infrastructure plans, but tariff threats from the U.S. cast a shadow over future prospects. Grand Pinnacle Tribune
• [New] The reduction in the overall average effective tariff rate could be viewed as a positive for the US economy as well. MUFG Research
• [New] Another factor to bear in mind is the potential impact of an adverse US Supreme Court ruling on the IEEPA tariffs, with judgement expected imminently. Passle
• [New] If there is sufficient political support, the EU will have a large range of options for retaliation, which could in principle include freezing US companies from procurement contracts, additional tariffs, and even taxing or otherwise restricting US services. Passle
• [New] The U.S. could withdraw from the trilateral agreement in favor of new bilateral trade agreements with Mexico and Canada. Grant Thornton
• [New] Global markets are navigating a renewed wave of uncertainty as shifting U.S. trade policy and geopolitical tensions reshape risk sentiment. zForex
• [New] US President Donald Trump has said he will impose global tariffs of 15%, as he continues to rail against a Supreme Court ruling that struck down his previous import taxes. BBC News
• [New] Trump's newly announced 15% import tariffs are bad for trade, bad for US consumers and businesses and will weaken global economic growth. BBC News
• [New] The supreme court's call will reduce the United States' average, trade-weighted tariff, to 8.3% from 15.3%, which will come as very good news for harried American consumers as well as businesses who rely on imported components. The Guardian
• [New] With the Supreme Court invalidating the IEEPA-based tariffs, importers are expected to seek refunds from US Customs and Border Protection for duties paid over the past year. Mint
• [New] CONTINUING TO UTILIZE TARIFFS TO PROTECT U.S. INTERESTS: Tariffs will continue to be a critical tool in President Trump's toolbox for protecting American businesses and workers, reshoring domestic production, lowering costs, and raising wages. The White House
• [New] The Thai government will continue trade negotiations with US to maintain stability in trade and investment relations, mitigate risks from volatile trade measures, and manage potential impacts on Thai businesses. financialpost
• [New] The Supreme Court ruling removes the legal basis for the previous tariff regime that allowed the US administration to quickly impose, raise, suspend, or threaten tariffs under emergency powers. Middle East Briefing
• [New] South Korea's 2026 Framework Act on Supply Chain Stabilization for Economic Security set a quantitative target to reduce import dependence on any single country for key items to below 50% by 2030. Information Technology and Innovation Foundation | ITIF

Last updated: 26 February 2026