Aluminum Exports Surge
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<strong>Aluminum Under Pressure, While Poland Surges Ahead</strong>
Andrzej Domanski, Poland's finance minster, during a news conference following an Economic and Financial Affairs Council (ECOFIN) meeting in Luxembourg, on Friday, June 20, 2025. The EU faces the threat of 50% levies on nearly all its exports to the US when a deadline set by Trump expires on July 9. Simon Wohlfahrt/Bloomberg
Trump’s rebuilding his tariffs. They could end up a lot narrower.
President Donald Trump is slowly unveiling his new tariff regime to replace the one knocked down by the Supreme Court earlier this year. So far, it’s more restrained than the previous version — a nod to the country’s current economic realities. The Trump administration this week proposed new duties on more than 60 countries after hurried trade investigations — in many cases suggesting tariffs substantially lower than the illegal ones it imposed last year.
The American Missile Crisis
Recent global conflicts, from Russia and Ukraine to Iran and Israel, have seen a resurgent awareness of the frailty of US munitions stock, which has been drawn down by both direct and indirect involvement in these events. While exact stockpile volumes are not disclosed, it is estimated that supplies of US warheads and the missiles that carry them have declined by nearly an order of magnitude since their peak during the Cuban Missile Crisis. Analysts have estimated that in the event of a...