Heading into 2025 global trade seems to be continuing on the path set in 2024 where countries are starting to draw lines in the sand.

Days after taking office, US President Donald Trump turned tariff threats into action with Mexico, Canada and China in the crosshairs.

Two days later, the US, Mexico and Canada had come to an agreement and tariffs that paused tariffs for at least 30 days.

While most trade policy experts were expecting that the US, Mexico and Canada would rapidly make a deal to avoid a serious trade conflict (which they did), even China experts are not sure what it will take to improve US-China relations.