What We're Watching
Beijing tries to woo an uninterested Tokyo over joint tariff fight
Containers on a cargo ship are seen at an industrial port in Tokyo, Japan April 3, 2025.
REUTERS/Kim Kyung-Hoon
Chinese Premiere Li Qiang sent Japanese Prime Minister Shigeru Ishiba a letter asking that they “fight protectionism together,” according to local reports Tuesday, as both countries face potentially disastrous US tariffs.
“I don’t know what the equivalent in Japanese for ‘chutzpah’* is, but I think the Japanese bureaucrats will snicker a bit to themselves,” says David Boling, Eurasia Group’s director for Japan and Asian trade. “China has a tendency when relations with the US are not going well to suddenly become much more positive in their approach to Japan.”
China is Japan’s largest trading partner but a highly distrusted neighbor from a national security perspective. Japan launched trade talks with the United States last week, and Boling says Tokyo is determined to strike a deal.
“The United States is just too important as an ally and trading partner, and even if talks break down, they’re not going to look to China first,” he says.
What’s more, Ishiba faces a crucial election in the upper house of the Diet, Japan's legislature, in July, right around when the US tariff pause is due to expire. With his political life on the line, we’re watching for an agreement in principle to be sealed with the US soon.
*Chutzpah is 厚かましさ (astukamashi-sa), if you were curious.
Two months into the Iran war, the shooting has stopped … for now. In Quick Take, Ian Bremmer explains that the fragile ceasefire between the United States and Iran is holding, with both sides avoiding direct confrontation while continuing to apply pressure in other ways. The US blockade remains in place, and Iran is still disrupting key shipping routes, underscoring just how tenuous the situation really is.
The Iran war just proved Kim Jong Un right. His grandfather wanted the bomb, his father built it, and now the world has stopped pretending it can take it away. Ian Bremmer explains how North Korea got here, and what comes next.
At the 2026 World Bank/IMF Spring Meetings, CFA Institute former President and CEO Margaret Franklin joined GZERO’s Tony Maciulis to discuss how investors are adapting to a world where disruption has become the baseline.