Global tariffs last week remained focused on the game between the United States and major economies.

The 6th round of China-US economic and trade consultations was held in Paris, France. The two sides reached initial consensus on some issues, but there were still obvious differences on core issues such as unilateral tariffs and the “Section 301 Investigation”, and the direction of subsequent policies remains uncertain. The US side is expected to complete the relevant investigation by July to provide a basis for subsequent tariff measures, and the overall uncertainty remains high.

The United Kingdom announced that it will increase the import tariff on steel from 25% to 50% starting from July 1, 2026, and significantly reduce import quotas to protect its domestic industry; the European Union and other economies are also raising tariffs on Chinese products through anti-dumping and other measures.

Overall, the global tariff during this period showed a trend of “negotiations and tariff increases proceeding in parallel, and protection measures continuing to intensify”, and the trade environment is still full of uncertainty.