The WTO Cut Its 2025 Trade Forecast. The Numbers Matter More Than the Headline
April's forecast revision showed merchandise trade contracting — and the gap between container rates and real volumes is where the policy story lives.
Valentina SokolovApril's forecast revision showed merchandise trade contracting — and the gap between container rates and real volumes is where the policy story lives.
Valentina Sokolov
Designations, blocked property, and secondary exposure — the instruments are legal mechanics, not rhetoric, and their enforcement record is mixed.
Gabriela Montoya
A statutory review-then-investigation timeline, not a blanket veto power, is what actually governs how Washington screens foreign investment — and CY2025 filings show where the scrutiny concentrates.
Christopher Lee



A joint inquiry by two federal agencies decides whether a foreign subsidy justifies a new U.S. tariff — and the process runs on fixed deadlines, not politics.
The definitive CBAM regime began on 1 January 2026, but the threshold, the deductions and the certificate calendar decide who actually pays.
Valentina SokolovSix central banks have kept standing dollar swap lines open since October 31, 2013. The mechanism is two transactions, one exchange rate, and a credit risk that never crosses the border.
Gabriela Montoya