2025 Issue Catalog

The development of global economic sectors and regions in Q3 2025 took place amid the stabilization of US trade policy, including the conclusion of trade agreements with the EU, South Korea, and Japan, and the extension of the “trade truce” with China; a sharp intensification of the AI boom, manifested in the large-scale construction of AI data centers and raising questions about the readiness of traditional devices and technologies for the new wave of AI; large-scale cyberattacks, marking qualitatively new challenges in the field of cybersecurity associated with the active use of AI technologies. Players in most industries began to adapt to doing business under the conditions of new protectionism, sanction pressure, and technological confrontation (locating capacities in the US, relocating electronics production from China, localizing Chinese automotive industry in Europe). The PRC's successes in achieving technological sovereignty are unprecedented, as is its high level of activity in introducing countermeasures during its confrontation with the US.

The determining factors in the development of most sectors of the global economy in April-June 2025 were the trade war initiated by the United States, the suspension of increased tariffs for most countries by D. Trump in early April, and the achievement of a “trade truce” between the United States and China in May. The resulting high uncertainty in the future and its impact on the global economy had the greatest impact on high-tech sectors with advanced global supply chains (semiconductors, equipment and electronics, the automotive industry) — accelerated purchases, restructuring of production processes, and even more intensive provision of technological sovereignty by China began to occur. D. Trump's policy, announced as a tool for the national industrial development, is bearing fruit — manufacturers of steel products, semiconductors, and electronics began to announce investments in the United States, while the automotive giants are reacting more reservedly for now.

The inconsistent and aggressive trade policy of the new US administration has affected all key sectors of the global economy without exception and put the activities of the world's largest companies in a state of uncertainty. A number of industries - oil and gas, steel, automotive, semiconductors, IT equipment - have become the epicenter of the trade war and sanctions pressure; others - food, consumer electronics - are being used as a tool of confrontation with the United States and a call for negotiations; third - platform business, transportation and logistics, telecommunications, software - are experiencing moderate pressure from the United States and expect further developments; players of the fourth - pharmaceuticals - are not yet reacting to the situation but expanding cooperation with China, however, they are thinking about risk mitigation measures.