Global Economic Uncertainty Shapes Central Bank Policies
Washington’s protectionist trade measures became increasingly evident, as following his inauguration, US President Donald Trump’s tariff choices in March and April intensified global trade frictions, generating a substantial wave of uncertainty in the global economy.
These US tariffs directly impacted China, Japan, the EU, Canada, and Mexico, positioning these nations as the primary players in ongoing trade disputes.
Although trade tensions eased somewhat during the latter half of the year with the establishment of multiple trade agreements, the 12-day airstrikes between Iran and Israel, along with failed efforts to resolve the Russia-Ukraine War, prompted markets to remain wary about future economic prospects.
Compounding these challenges, the US federal government ceased operations on Oct. 1, after failing to agree on a temporary budget. The 43-day shutdown became the longest in US history, causing major interruptions in the flow of economic data during the third quarter of the year.
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