Global economic outlook Q3 2025: tariffs toughen
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Table of contents
-
Executive summary
- Tariffs toughen
- US: full impact of tariffs yet to emerge
- China: momentum slipping
- Transshipment clampdown
- Trade uncertainty will persist
- Europe: defence spending won’t revitalise the economy
- A new economic order?
Tables and charts
This report includes the following images and tables:
- US effective tariff rate
- Global GDP growth
- US domestic demand growth
- US labour market
- China's growth indicators
- Vietnam trade data
- US tariffs on key Asian economies
- EU budget balances and defence spending
What's included
This report contains:
Other reports you may be interested in
Value-in-use iron ore costs Q3 2025
Q3 2025 iron ore value-in-use adjusted costs are up 2.2% compared to last quarter, and margins remain at 40% in Q3 2025.
$5,000Global Short-Term LNG Supply Tracker (Q3 2025)
Quarterly update of short-term LNG supply dynamics by country
$1,050Global zinc smelter asset cost summary
Detailed analysis and forecast for production, costs, revenue and margins for zinc smelters.
$6,750