A New World Order in the Making

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The Trump administration has been batting for pressure politics in global trade ever since he returned to the White House. The new tariff hikes by the US have created significant uncertainty for business leaders in Asia. Many Asian exporters, particularly in sectors like electronics, automobiles, textiles, and steel, face higher costs and reduced competitiveness in the US market. This is pushing companies to shift supply chains, invest in productivity improvements, and seek new markets. Regional governments and firms are also forming stronger intra-Asia trade ties to mitigate risks, while rising regulatory scrutiny forces businesses to adapt rapidly to changing conditions.

This climate has sky-rocked the importance of the Shanghai Cooperation Organization (SCO) Summit in Tianjin, which brought together Narendra Modi, Xi Jinping, and Vladimir Putin, underscoring a pivotal shift in global business and trade dynamics.

The countries agreed to the expansion of cooperation for secure energy supplies, including sustainable energy, stabilized supply chains, and renewable energy partnerships. Russia and China deepened energy trade agreements, with India participating in broader regional frameworks.

Source: Wikipedia/G. Watson