The European Commission unveiled a proposal on October 7th, planning to significantly reduce tariff-free import quotas for steel and raise the tariff on steel imports exceeding the quota from the current 25% to 50%.
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In the fiscal year 2024, Toyota set an industry record with a net profit of 4.76 trillion yen, equivalent to three times the total profit of the seven major Chinese car companies, once again shocking the profitability of the Japanese automotive industry worldwide.
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On October 7, 2025, the European Commission announced that it would double the steel import tariff from the current 25% to 50%, and at the same time reduce the import quota by nearly half to 18.3 million tons per year.
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On the local time of September 29, U.S. President Trump once again unveiled a heavyweight tariff plan on social media: imposing a 100% tariff on all films produced outside the United States, while levying high tariffs on countries whose furniture is "not manufactured in the United States".
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Recently, the United States has imposed a 39% tariff on the French cosmetics industry and India plans to impose retaliatory tariffs on the United States, which constitute typical examples of the current rise of global trade protectionism.
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Recently, according to Reuters, the price of beef in the United States has risen to a historical high, and this price level is becoming a driving factor for business operations and market structure adjustment.
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On September 25th local time, the US coffee chain Starbucks announced that it would lay off 900 employees and close approximately 100 underperforming stores, including its iconic Seattle Roastery stores.
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In recent years, shopping centers across the United States have undergone unprecedented changes. As national chains continue to shut down, vacancy rates are rising—ironically creating rare opportunities for many local small businesses.
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The Trump administration, using tariffs as a weapon, attempted to restore the glory of "Made in the USA".
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Recently, US President Trump has once again brandished the tariff stick, targeting daily medicines and heavy trucks under the guise of "national security".
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The 7th EU-African Union Summit was held in Angola from November 24th to 25th.
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