“the sanctions failed in one crucial way. The fact that Moscow was blindsided by them suggests it grossly underestimated the severity of the penalties it would face. Although the U.S. and its allies had developed an extensive menu of possible sanctions before the invasion, they never reached consensus on how far they were willing to go. They left Putin to divine the meaning of “the most severe sanctions that have ever been imposed,” and Putin—as he so often did—read Western ambiguity as weakness.
If Biden and other world leaders had committed ahead of time to the actions they would eventually take, they might have had a much better chance of staving off Putin’s invasion. Deterrence can’t work if your adversary underestimates your ability or willingness to act. Putin never saw the sanctions coming—and that was precisely the problem.”
“Slovakia has a population of just 5.4 million, yet it is one of Europe’s leading car manufacturers, heavily reliant on auto production and exports to the U.S. Home to five major car manufacturers and more than 350 local suppliers, Slovakia is not only the second-largest E.U. exporter of vehicles to the U.S., but also the biggest car producer per capita in the world.
Slovakia manufactures and exports higher-end SUVs from brands like Audi, Volkswagen, Porsche, Range Rover, and—starting in 2026—Volvo. With SUVs accounting for 46 percent of total annual auto sales in the U.S., the tariffs are likely to hurt models that are especially popular among American consumers.
According to the National Bank of Slovakia, the Slovak economy “would decrease cumulatively by nearly 3 percent” due to the new tariffs, and “would also mean the loss of 20,000 jobs.” The bank projects that Slovakia’s economy will “suffer the most in 2026, when its growth would barely stay above zero” and that by 2027, the automotive tariffs alone could reduce gross domestic product by 0.3 to 0.5 percentage points. The bank’s governor referred to the prospects of a 25 percent car tariff impact as a “small Armageddon.””
“Amid recent travel advisories warning those coming to the U.S. plus strengthened immigration enforcement, many international travelers are starting to turn away from the U.S. as a destination. Between January and March 2025, foreign arrivals dropped by around 4.4% from those first three months last year, according to data from the National Travel and Tourism Office. In a March year-over-year comparison, that reduction doubles to almost 10%.”
…
“Some fear for their safety over what could happen when trying to enter the nation’s borders. Others are angered at recent policies, like the trade wars, and rhetoric, refusing to spend their dollars in the U.S. A decline in overseas visitors could have significant long-term consequences for the economy, with travel and tourism one of the country’s leading industries, contributing 2.5% to the GDP”
“The Trump administration has upended what it calls “blatantly unfair” talks to set a carbon tax on international shipping and has vowed “reciprocal measures” to shield U.S. ships from any fees, according to a letter seen by POLITICO.
The International Maritime Organization’s Maritime Environmental Protection Conference (MEPC) is taking place in London this week and aims to reach a deal on reducing greenhouse gas emissions (GHG) from shipping.
“The EU can apply retaliatory tariffs on nearly €21 billion of U.S. products like soybeans, motorcycles and orange juice after the bloc’s 27 countries assented to the measures on Wednesday, the European Commission announced.
“The EU considers U.S. tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy. The EU has stated its clear preference to find negotiated outcomes with the U.S., which would be balanced and mutually beneficial,” the EU executive said in a statement.
Hitting back against U.S. President Donald Trump’s steel and aluminum tariffs, the European Union’s countermeasures will apply in three rounds. Measures covering €3.9 billion in trade will go into force next week, with a further €13.5 billion from mid-May and a final round of €3.5 billion following in December.”
“San Antonio sends almost half its exports to Canada, which makes the Texas trade hub one of the most vulnerable U.S. cities in the tariff war.
Mayor Ron Nirenberg says one in five jobs in his state is exposed by President Donald Trump’s new tariff regime — “300,000 jobs immediately on the block.””