The 2025 US tariff regime has dramatically reshaped global trade dynamics, with a 10% baseline tariff on all imports since April 5 and 145% tariffs on Chinese goods (up from 2.5% pre-2025), triggering a WTO trade growth revision to -0.2% and unprecedented supply chain realignments.

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While the US and China have agreed to sharply reduce most tariffs for 90 days starting May 14, this rapid policy reversal highlights just how volatile the trade and currency environment remains.

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Companies must stay agile and adapt their hedging strategies to manage ongoing uncertainty, as further shifts in tariffs or trade relations could quickly impact costs, supply chains, and FX exposures.