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What We’re Watching: Trump inks trade deals in Asia, Zelensky under pressure at home, India and China make nice

​A financial data monitor in Tokyo shows the 225-issue Nikkei Stock Average soaring more than 1,000 points to recover to the 40,000 level during morning trading on July 23, 2025, after U.S. President Donald Trump said he had struck a trade deal with Japan.

A financial data monitor in Tokyo shows the 225-issue Nikkei Stock Average soaring more than 1,000 points to recover to the 40,000 level during morning trading on July 23, 2025, after U.S. President Donald Trump said he had struck a trade deal with Japan.

Kyodo via Reuters
By Riley Callanan,
Riley Callanan

Riley is a former writer and reporter for GZERO. When she isn’t writing about global politics, you can find her making GZERO’s crossword puzzles, conducting research on American politics, or persisting in her lifelong quest to learn French. Riley spends her time outside of work grilling, dancing, and wearing many hats (both literally and figuratively).

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Zac Weisz
Zac Weisz

Zac reports on global affairs, covering everything from battles between judicial branches and political leaders, to conflicts in Africa, Europe, and the Middle East. With the Trump administration keen to alter the world order, though, there’s a heavy emphasis right now on US politics – an area with which he is intimately familiar. Prior to joining GZERO, Zac was a senior national politics correspondent at National Journal, where he covered the 2024 presidential election from its inception to the dramatic finish, as well as major congressional actions during the Biden administration. Prior to journalism, Zac worked as an economic analyst for Oxford Economics, calculating the impact of various tax policies, and of Britain’s exit from the European Union. Born in London, he currently resides in New York City, where you can find him playing football (the original version) or watching it on television while attempting to cook up a storm.

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July 23, 2025
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Trump announces flurry of Asian trade deals

Donald Trump announced a trade deal with Japan on Tuesday, easing fears of escalating tensions with a key US ally (and the world’s fourth largest economy to boot). Under the agreement, the US will lower tariffs on Japanese cars to 15% and Japan will open its markets to more American cars, rice, and other goods, while also pumping $550 billion worth of fresh investment into the US. The president also announced similarly structured deals with the Philippines and Indonesia, though details remain spotty.

Zelensky sees first major protests against his government

Thousands Ukrainians gathered on the streets of Kyiv on Wednesday, defying martial law rules to protest president Volodymyr Zelensky’s moves to seize control of the nation’s independent anti-corruption body. It was the first time that Ukrainians have protested their government like this since Russia’s full-scale invasion began in 2022. Zelensky’s office says the measure is needed to streamline anti-corruption probes and insulate them from external meddling. Will Ukrainians accept that?

Are India and China looking to patch things up?

India will resume issuing tourist visas to Chinese citizens tomorrow for the first time in five years, as Asia's two billion-strong powerhouses look to thaw a frosty relationship. The visas were banned amid a flurry of bilateral bans and restrictions that took hold after a military clash in 2020 over their long disputed Himalayan border. Chinese president Xi Jinping and Indian PM Narendra Modi have plans to meet in October.

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