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Are Trump's tariffs the end of the free trade era?
For the last 80 years, America has been a leading advocate of free trade. It built (and benefited from) the rules of the global economic system. But as the Trump administration imposes record tariffs on allies and renegotiates trade agreements around the world, it’s no longer playing by the rules it created. Instead, it's becoming the most protectionist advanced industrial economy in the world. What happens when globalization's biggest backer becomes its biggest critic?
On GZERO World, CNN’s Fareed Zakaria joins Ian Bremmer to discuss President Trump’s tariffs, the rise of protectionism, and US retreat from global leadership, an ideology Zakaria calls the “beating heart” of MAGA. Big economies like China and the EU that rely on trade to maintain growth are increasingly trying to go around the US to make trade deals of their own. But America still has the largest economy in the world. President Trump's trade policies could send shockwaves through the global economic system America has spent generations building. The US has imposed high tariffs on many of its biggest trading partners, and so far, economy appears surprisingly resilient. But is this just the calm before a very big storm?
“The US was the beating heart of the free trade movement, the country that forced all the other countries in the world to open their markets,” Zakaria says, “If you shelter your best companies behind 15, 20% tariff walls, they're just not going to be as competitive.”
GZERO World with Ian Bremmer, the award-winning weekly global affairs series, airs nationwide on US public television stations (check local listings).
New digital episodes of GZERO World are released every Monday on YouTube.Don't miss an episode: subscribe to GZERO's YouTube channel and turn on notifications (🔔). GZERO World with Ian Bremmer airs on US public television weekly - check local listings.
The new global trade wars, with Fareed Zakaria
President Trump’s policies swiftly rewriting the rules of global trade. As the United States imposes tariffs on allies and adversaries alike, do we risk losing our edge? On the GZERO World Podcast, CNN’s Fareed Zakaria joins Ian Bremmer to discuss what happens when globalization’s biggest champion becomes its biggest critic. For the past 80 years, the United States has been the beating heart of the free trade movement, the country that forced all the other countries in the world to open their markets. But now, Washington is tearing up the economic playbook—levying historic tariffs and recasting the world as a high-stakes, winner-take-all, zero-sum game.
Zakaria says we are living through an age of backlash to 30 years of globalization and that the next 10 years will be a period of “slowbalization,” where we'll see a much slower pace of growth and a much more political economy. Bremmer and Zakaria break down America’s retreat from global leadership, shifting power dynamics between the US and China, European pressure to become more self-sufficient, and whether the Trump administration’s economic gamble is worth the risk.
“The United States has gone from the leading advocate of free trade to being the most protectionist advanced industrial country in the world,” Zakaria warns, “We’ve always invited competition from the world’s best. If we move to something else, I think we lose that edge.”
Trump's tariffs are already changing global trade
The Trump administration is imposing tariffs on allies and adversaries alike—15% on the EU, 50% on Brazil, 25% on India. America has become the main driver of global economic uncertainty and increasingly seen as an unreliable trade partner. So what can countries do? They adapt. If they can’t trade through Washington, they’ll try trading around it.
On Ian Explains, Ian Bremmer breaks down the new global trade map as allies negotiate their own alliances in ways that make them less vulnerable to US chaos. The biggest power play is coming from the EU, which is pitching itself as a steadfast trade partner—reinforcing ties with the UK, Latin America, and Asia, and even floating the idea of an EU-led alternative to the WTO. The US economy is still the largest in the world, it won’t be excluded from global trade entirely. But global supply chains are sticky, and new trade relationships could long outlast Trump’s presidency. As America walks away from 80 years of economic leadership, does it risk being left behind?
GZERO World with Ian Bremmer, the award-winning weekly global affairs series, airs nationwide on US public television stations (check local listings).
New digital episodes of GZERO World are released every Monday on YouTube. Don't miss an episode: subscribe to GZERO's YouTube channel and turn on notifications (🔔). GZERO World with Ian Bremmer airs on US public television weekly - check local listings.
Is Europe’s attitude towards Israel shifting?
In this episode of Europe In :60, Carl Bildt discusses the new EU-US trade deal and Europe's response on Gaza.
Bildt describes the trade agreement as a "lose-lose" for both sides. He also critiques the projections from the White House, stating, "That's sort of fake figures of the sort that is often associated with Mr. Trump having his press briefing."
On Gaza, Bildt notes a growing European response, citing President Macron’s pledge to recognize Palestine by September and the EU Commission “now contemplating to throw Israel out of some other research programs.” Bildt adds that he thinks “more can be expected on that front.”
US-EU trade deal marks a win for Trump
In this episode of Ian Bremmer’s Quick Take, Ian discusses the breakthrough US-EU trade deal, calling it a "big win" for the US and President Donald Trump.
Trump's recent foreign policy successes, including trade deals with Japan and South Korea and NATO support for Ukraine reflect short-term achievements.
However, Ian cautions that the long-term cost may be America's credibility. He warns, “Everyone I talk to around the world sees the United States as not just unpredictable, but unreliable."A satellite overview shows the Fordow Fuel Enrichment Facility, amid the Iran-Israel conflict, near Qom, Iran, June 29, 2025
Hard Numbers: US intel shows two Iranian nuclear sites survive, EU adopts fresh Russia sanctions, Pakistani bird-seller loses nest egg, CBS sunsets Colbert, Cancer takes a long-term hit
1: A new US intelligence assessment says that the US strikes on Iran’s nuclear facilities last month destroyed only one of the three sites targeted. While Fordow – Iran’s most fortified enrichment site – was mostly destroyed, the Natanz and Isfahan sites likely did not suffer the same damage. US President Donald Trump, who has said all the sites were “obliterated”, reportedly rejected a more thorough, weeks-long bombing campaign because it would have clashed with his stated objective of disentangling the US from foreign conflicts.
18: The European Union on Friday approved the 18th package of sanctions against Russia over President Vladimir Putin’s invasion of Ukraine. The centerpiece of the measures is a new cap on the price that members can pay for Russian oil. The package, which requires unanimous approval from EU members, overcame opposition from Slovakia, which won some exceptions from wider EU plans to phase out Russian energy imports altogether.
10: After ten years in business, a Pakistani bird-seller recently found his bank accounts suddenly frozen by the government. The reason? He had sold a parrot to prominent journalist and bird collector Asad Ali Toor, who routinely ruffles powerful feathers with his criticisms of Pakistan’s military and judiciary. The government has locked the accounts of others who had done business with Toor too, in what looks like a bid to isolate and silence a prominent critic.
32: After 32 seasons on air, the lights will go down next year on the Late Show, CBS's flagship evening comedy and interview program, which has been hosted by Trump-critic Steven Colbert since 2015. CBS said the move was made for financial reasons, as late night shows have been losing audience and revenue for years. Parent company Paramount said it was unrelated to a controversial settlement with Trump over an allegedly biased edit of a “60 Minutes” interview with his 2024 election rival Kamala Harris. Paramount is also, as it happens, currently seeking US government approval for an $8 billion mega-merger with Skydance Media.
⅓: Good news from the front lines of the “War on Cancer”: the age-related death rate from the disease in the US is fully ⅓ lower than it was in the 1990s, mirroring progress in other developed countries. Experts attribute the improvement to a combination of public policy (such as smoking bans) and scientific breakthroughs. Building on those gains, and expanding them globally, remains a key challenge.
How will the Trump presidency influence elections in Europe?
Carl Bildt, former prime minister of Sweden and co-chair of the European Council on Foreign Relations, shares his perspective on European politics from Stockholm, Sweden.
How do you believe that the Trump presidency will influence elections in Europe?
Well, of course we don't know. But what we've seen during the last week with important elections in Canada and Australia, not Europe, but fairly similar in other ways, is that the Trump factor has been very important. It has boosted the incumbent governments. It has boosted the center-left. It has boosted those who are seen as standing up to American pressure, and thus produced results both in Canada, primarily in Canada, but also in Australia. Very different from what practically everyone expected a couple of months ago.
Europe, different place. But still we have two important elections coming up, within slightly more than 10 days. We have the first round of the presidential election in Poland. That's very important for the future possibilities of the Tusk government to continue reforming that particular country. And we have the second round of the presidential election in Romania. An important country often forgotten. But there of course, we had gross interference from Russia and TikTok, and a candidate was banned. In both of these cases, we see the Trump presidency acting. They received, in the White House the other day, the opposition candidate. The extreme right nationalist opposition candidate the other day. And they've been making distinct noises in favor of the same political alternative in Romania. Will this backfire in the way it did in Canada, Australia? Remains to be seen. Very important elections both of them. Watch this space.
Sign seen at a liquor store in B.C., Canada earlier this year.
How are major economies bracing for the impact of Trump tariffs?
As the world reels from Donald Trump's on-again off-again "Liberation Day" tariffs, nations are lining up to make deals – but also scrambling to shield their economies from the fallout.
The EU has proposed a "zero-for-zero" tariff agreement on industrial goods. But the bloc is prepared to enact a 25% tariff on US products if negotiations falter, and is also considering deploying its new anti-coercion instrument, which enables a range of retaliatory measures including export controls, intellectual property restrictions, and foreign investment limits.
North of the US border, Canada enacted 25% counter-tariffs on US vehicles. The revenue is earmarked to support Canadian auto workers harmed by the US tariffs. Canadian Prime Minister Mark Carney and Trump had also previously agreed that trade negotiations will take place after the Canadian election, scheduled for April 28.
Interest rate cuts. Countries including India, New Zealand and the Philippines slashed interest rates to cushion their economies, and South Korea unveiled a $2 billion aid package for its auto sector. Many countries, including Australia, Spain and Canada, are also urging consumers to buy domestic products rather than American goods.
China strikes back. China, for its part, countered the 145% US tariff with a 125% levy on American goods. Beijing is also looking to bolster domestic consumption through initiatives like Chinese e-commerce company JD.com's $27 billion procurement deal from Chinese firms. So far, however, Beijing has not moved to devalue its currency to support exports, as some expected it might.