“Trump’s duties.”

U.S. President Donald Trump said he would not impose 10% duties against eight European countries that were set to take effect Feb. 1. The statement came hours after Trump’s speech in Davos, where he cited progress in talks with NATO Secretary General Mark Rutte on Greenland.

Amid a U.S. Supreme Court case on the legality of import duties, more than a thousand American companies have sued President Donald Trump in hopes of recouping a share of the duties paid so far, totaling billions of dollars, Logos Press reported.

Nearly six months after U.S. President Donald Trump announced the imposition of ultra-high “reciprocal” tariffs – a blatant violation of WTO rules – the global trading system is holding up well. No major economies have followed Trump’s lead, and according to UNCTAD, global trade is expected to increase by about $300 billion in the first half of 2025.

Six months into Donald Trump’s second term as president, it is fair to recognize that he has won a complete victory in the realm of economic policy. At least by the standards he has set for himself. Moreover, no U.S. president since World War II has been so successful in imposing his will – maybe with the exception of Ronald Reagan.

One can censure Viktor Orban, a friend of U.S. President Donald Trump and Russian President Vladimir Putin, for many things. But the Hungarian prime minister was not wrong when he noted that Trump had just “eaten [European Commission President] Ursula von der Leyen for breakfast” before our eyes. The agreed draft trade agreement between the European Union and the United States imposes a 15% duty on most European goods exported to the U.S. and a 0% duty on American exports to Europe. Obviously, Trump won the match – by a score of 15-0.

When U.S. President Donald Trump and European Commission President Ursula von der Leyen shook hands at Trump Golf Club in Scotland on Sunday, they didn’t just announce a new trade agreement. They formalized Europe’s economic and ideological surrender. By agreeing to a 15% duty on most goods exported to the US, the EU capitulated to Trump’s worldview (a zero-sum game). In doing so, the EU abandoned the principles of multilateralism that had long guided world trade.

China’s PDD Holdings, which owns popular online retailer Temu, has recorded a 47% drop in profits for the first quarter of 2025,” Logos Press reported, citing the UK’s BBC.