Discover the implications of potential U.S. tariffs on Canadian oil imports and how the Trans Mountain Pipeline is poised to become a critical asset in optimizing Canada's oil export routes, especially toward Asian markets.

In May 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In early 2025, Russia maintained the highest interest rate at 20 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.1 percent in May 2025. In contrast, Russia maintained a high inflation rate of 9.9 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

UBS advises investors to buy silver, forecasting a price rise amid tariff tensions and potential interest rate cuts.

Explore the stability of gold prices amidst economic uncertainty in the U.S., despite slight dips and fluctuating market conditions.

This message pertains to the additional Tariff Rate Quota (TRQ) volume for refined sugar exports to the United States under the Canada-United States – Mexico Agreement, referred to in Notice to exporters.

UNIDO pub. Expert report on price policy concerning the industrial sector in developing countries - covers: the effect of government policy and interventions in international trade; quotas, tariffs; protectionism; the labour market, the capital market; controlled interest rates and economic growth; the effect of subsidies. Alternative policies for price reform; constraints. Recommendations, bibliography, statistics.

The number of home sales in the United States peaked in 2021 at almost ************* after steadily rising since 2018. Nevertheless, the market contracted in the following year, with transaction volumes falling to ***********. Home sales remained muted in 2024, with a mild increase expected in 2025 and 2026. A major factor driving this trend is the unprecedented increase in mortgage interest rates due to high inflation. How have U.S. home prices developed over time? The average sales price of new homes has also been rising since 2011. Buyer confidence seems to have recovered after the property crash, which has increased demand for homes and also the prices sellers are demanding for homes. At the same time, the affordability of U.S. homes has decreased. Both the number of existing and newly built homes sold has declined since the housing market boom during the coronavirus pandemic. Challenges in housing supply The number of housing units in the U.S. rose steadily between 1975 and 2005 but has remained fairly stable since then. Construction increased notably in the 1990s and early 2000s, with the number of construction starts steadily rising, before plummeting amid the infamous housing market crash. Housing starts slowly started to pick up in 2011, mirroring the economic recovery. In 2022, the supply of newly built homes plummeted again, as supply chain challenges following the COVID-19 pandemic and tariffs on essential construction materials such as steel and lumber led to prices soaring.

In 2019, major motivating factors for Russian customers to choose FinTech providers were attractive tariffs and interest rates, along with the ease of creating an account.

US Tariff Impact on Market

The U.S. tariffs on imported electronic goods, including smartphones, gaming consoles, and computer peripherals, indirectly impact the Esports Advertising Market. In 2024, tariff rates on these electronics rose between 10%–20%, as reported by USTR and PIIE. These increases marginally raised hardware costs, affecting gaming device sales, and potentially slowing audience expansion for esports platforms.

However, given the dominance of mobile devices, which were less affected by tariffs, the overall impact on esports advertising remained limited. Publishers and advertisers adapted by focusing more on mobile-centric campaigns and leveraging digital ecosystems less vulnerable to hardware pricing fluctuations.

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Additionally, the rapid expansion of mobile esports helped maintain advertiser interest despite hardware market volatility. Long-term, continued innovation in mobile gaming and rising investment in 5G infrastructure are expected to offset tariff-related challenges and sustain the strong growth trajectory of esports advertising.

Economic Impact

• Tariffs increased gaming hardware prices slightly, impacting new device adoption.
• Esports advertising demand remained resilient, fueled by mobile gaming growth.
• The market's digital-first nature helped mitigate broader tariff-related disruptions.

Geographical Impact

• North America continues to dominate, leveraging a strong esports infrastructure.
• Asia-Pacific shows the fastest growth, driven by massive mobile gaming penetration.
• Europe remains stable, with increasing advertiser interest in localized esports events.

Business Impact

• Brands focus more on mobile esports campaigns amid hardware cost pressures.
• Investment shifts toward in-game static ads and mobile platforms.
• Opportunities grow for non-traditional advertisers entering the digital gaming space.

ABSTRACT This paper reviews the effects of Plano Real’s macroeconomic policies on agriculture and discusses the new perspectives open after the strong devaluation of our currency in January 1999. Brazilian agriculture was severely affected by the combination of high interest rates - overvalued exchange rate. In addition, it has had to face the problems of excessive reduction in import tariffs, of financed imports and of low economic growth rates in recent years. Some favorable changes in international trade offset, at least partially, the problem of currency overvaluation. Brazil has always been recognized as having a strong comparative advantage in agriculture. The devaluation which occurred, beginning in January 1999, opens better perspectives for the country to exploit its competitiveness in international markets.

Strong returns in various financial markets and increased trading volumes have benefited businesses in the industry. Companies provide underwriting, brokering and market-making services for different financial instruments, including bonds, stocks and derivatives. Businesses benefited from improving macroeconomic conditions despite high inflationary economic environment. However, in 2024, the Fed slashed interest rates as inflationary pressures eased , limiting interest income from fixed-income securities for the industry. The Fed seeks to further cut interest rates but will monitor inflation, employment, the effects of tariffs and other economic factors before making further rate cut decisions. Overall, revenue has been growing at a CAGR of 7.0% over the past five years and is expected to total $456.6 billion in 2025, with revenue expected to decline 0.9% in the same year. In addition, industry profit is expected to climb to 13.0% over the five years to 2025. While many industries struggled at the onset of the period due to economic disruptions due to the pandemic and supply chain issues, businesses benefited from the volatility. Primarily, companies have benefited from increased trading activity on behalf of their clients due to fluctuations in asset prices. This has led to higher trade execution fees for firms at the onset of the period. Similarly, debt underwriting increased as many businesses have turned to investment bankers to help raise cash for various ventures. Also, improved scalability of operations, especially regarding trading services conducted by securities intermediates, has helped increase industry profits. Structural changes have forced the industry's smaller businesses to evolve. Because competing in trading services requires massive investments in technology and compliance, boutique investment banks have alternatively focused on advising in merger and acquisition (M&A) activity. Boutique investment banks' total share of M&A revenue is forecast to grow through the end of 2030. Furthermore, the industry will benefit from improved macroeconomic conditions as inflationary pressures are expected to ease. This will help asset values rise and interest rate levels to be cut, thus allowing operators to generate more from equity underwriting and lending activities. Overall, revenue is forecast to grow at a CAGR of 2.2% to $507.9 billion over the five years to 2030.

The recent housing market cycle has driven the sawmill and wood production industry’s performance. Initially, the surge in residential construction and renovation in Canada and the US in 2021, spurred by low interest rates and high disposable incomes, drove significant demand for softwood lumber, leading to a 43.5% jump in revenue for industry mills. However, rising interest rates in 2022 cooled housing demand, causing a significant drop in lumber prices and revenue. In 2024, the industry faced ongoing challenges due to rising costs, tariffs and reduced demand, with major companies like West Fraser and Canfor reporting losses and closing mills to correct the supply-demand imbalance for lumber. The longstanding Canada-US trade dispute over softwood lumber continues, with tariffs raised to 14.54% in 2024, prompting Canada to file legal challenges. Further increases are expected to be implemented in 2025. The industry is grappling with the impacts of severe wildfires that hinder mill operations and access to timber resources, further exacerbating economic difficulties. As a result, over the past five years, revenue has fallen at an estimated annualized rate of 4.0% to $18.8 billion through the end of 2025, with low growth of 1.6% forecast for the current year. Future performance will depend on the US and Canadian housing markets, which are facing challenges relating to home affordability. Tariffs from the ongoing softwood lumber dispute between the US and Canada will continue to affect industry sawmills, prompting companies to adapt by improving efficiency or relocating facilities. Market conditions are pushing major lumber players to consolidate operations, with some acquiring mills in the US to bypass tariffs. Natural threats like wildfires and wood-boring insects pose ongoing risks to log supplies essential for sawmill operations. Over the next five years, industry revenue is forecast to grow at a CAGR of 1.7% to $20.5 billion through the end of 2030.

The sporting goods manufacturing industry has benefitted from rising health consciousness over the past decade, which spurred an uptick in sports participation, driving demand. However, inflationary pressures plagued the industry in the aftermath of the COVID-19 outbreak, resulting in people cutting discretionary spending. Revenue is expected to grow at a compound annual rate of 2.6% over the five years through 2025 to €10.8 billion, including an estimated jump of 1.8% in 2025. Profit is also expected to edge upwards to 12.2% in 2025 as higher interest rates cool inflation and ease input cost pressures. Following the COVID-19 outbreak, pent-up demand and supply chain disruptions incited inflationary pressures, ratcheting up living costs. This resulted in many people’s real household disposable income’s plummeting, forcing them to cut discretionary spending on goods like sporting equipment. Despite central banks across Europe raising interest rates to curb rising prices, inflation persisted in the two years through 2023, hurting demand. However, rising sport participation and health consciousness have supported revenue in recent years, driven by effective government initiatives. This includes the Erasmus+ Sport programme, which supports grassroots sports projects across Europe. According to a 2022 survey from the European Commission, Finland tops the list of countries most likely to exercise at least once a week, at 71% of respondents. Import competition has impacted the industry with consumers opting for cheaper alternatives from low-cost production countries amid the cost-of-living crisis. This forced manufacturers to focus their efforts on premium, performance-focused gear, maintaining revenue growth. Revenue is forecast to swell at a compound annual rate of 5.8% over the five years through 2030 to €14.3 billion. Sporting goods manufacturing will welcome declining costs as inflationary pressures subside in the short term. However, uncertainty surrounding Trump’s tariffs policies will hamper GDP growth due to businesses delaying investment projects which would have potentially aided demand for sports goods manufacturers. This will force manufacturers to diversify into faster-growing or tariff-free markets like Asia. Sport participation will continue to rise, supported by robust funding towards promoting exercise as governments seek to slow down rising obesity across Europe. Yet, countries like France facing budget pressures have slashed funding aimed at promoting sports, hindering demand for sports goods manufacturers.

The sporting goods manufacturing industry has benefitted from rising health consciousness over the past decade, which spurred an uptick in sports participation, driving demand. However, inflationary pressures plagued the industry in the aftermath of the COVID-19 outbreak, resulting in people cutting discretionary spending. Revenue is expected to grow at a compound annual rate of 2.6% over the five years through 2025 to €10.8 billion, including an estimated jump of 1.8% in 2025. Profit is also expected to edge upwards to 12.2% in 2025 as higher interest rates cool inflation and ease input cost pressures. Following the COVID-19 outbreak, pent-up demand and supply chain disruptions incited inflationary pressures, ratcheting up living costs. This resulted in many people’s real household disposable income’s plummeting, forcing them to cut discretionary spending on goods like sporting equipment. Despite central banks across Europe raising interest rates to curb rising prices, inflation persisted in the two years through 2023, hurting demand. However, rising sport participation and health consciousness have supported revenue in recent years, driven by effective government initiatives. This includes the Erasmus+ Sport programme, which supports grassroots sports projects across Europe. According to a 2022 survey from the European Commission, Finland tops the list of countries most likely to exercise at least once a week, at 71% of respondents. Import competition has impacted the industry with consumers opting for cheaper alternatives from low-cost production countries amid the cost-of-living crisis. This forced manufacturers to focus their efforts on premium, performance-focused gear, maintaining revenue growth. Revenue is forecast to swell at a compound annual rate of 5.8% over the five years through 2030 to €14.3 billion. Sporting goods manufacturing will welcome declining costs as inflationary pressures subside in the short term. However, uncertainty surrounding Trump’s tariffs policies will hamper GDP growth due to businesses delaying investment projects which would have potentially aided demand for sports goods manufacturers. This will force manufacturers to diversify into faster-growing or tariff-free markets like Asia. Sport participation will continue to rise, supported by robust funding towards promoting exercise as governments seek to slow down rising obesity across Europe. Yet, countries like France facing budget pressures have slashed funding aimed at promoting sports, hindering demand for sports goods manufacturers.

The sporting goods manufacturing industry has benefitted from rising health consciousness over the past decade, which spurred an uptick in sports participation, driving demand. However, inflationary pressures plagued the industry in the aftermath of the COVID-19 outbreak, resulting in people cutting discretionary spending. Revenue is expected to grow at a compound annual rate of 2.6% over the five years through 2025 to €10.8 billion, including an estimated jump of 1.8% in 2025. Profit is also expected to edge upwards to 12.2% in 2025 as higher interest rates cool inflation and ease input cost pressures. Following the COVID-19 outbreak, pent-up demand and supply chain disruptions incited inflationary pressures, ratcheting up living costs. This resulted in many people’s real household disposable income’s plummeting, forcing them to cut discretionary spending on goods like sporting equipment. Despite central banks across Europe raising interest rates to curb rising prices, inflation persisted in the two years through 2023, hurting demand. However, rising sport participation and health consciousness have supported revenue in recent years, driven by effective government initiatives. This includes the Erasmus+ Sport programme, which supports grassroots sports projects across Europe. According to a 2022 survey from the European Commission, Finland tops the list of countries most likely to exercise at least once a week, at 71% of respondents. Import competition has impacted the industry with consumers opting for cheaper alternatives from low-cost production countries amid the cost-of-living crisis. This forced manufacturers to focus their efforts on premium, performance-focused gear, maintaining revenue growth. Revenue is forecast to swell at a compound annual rate of 5.8% over the five years through 2030 to €14.3 billion. Sporting goods manufacturing will welcome declining costs as inflationary pressures subside in the short term. However, uncertainty surrounding Trump’s tariffs policies will hamper GDP growth due to businesses delaying investment projects which would have potentially aided demand for sports goods manufacturers. This will force manufacturers to diversify into faster-growing or tariff-free markets like Asia. Sport participation will continue to rise, supported by robust funding towards promoting exercise as governments seek to slow down rising obesity across Europe. Yet, countries like France facing budget pressures have slashed funding aimed at promoting sports, hindering demand for sports goods manufacturers.

The sporting goods manufacturing industry has benefitted from rising health consciousness over the past decade, which spurred an uptick in sports participation, driving demand. However, inflationary pressures plagued the industry in the aftermath of the COVID-19 outbreak, resulting in people cutting discretionary spending. Revenue is expected to grow at a compound annual rate of 2.6% over the five years through 2025 to €10.8 billion, including an estimated jump of 1.8% in 2025. Profit is also expected to edge upwards to 12.2% in 2025 as higher interest rates cool inflation and ease input cost pressures. Following the COVID-19 outbreak, pent-up demand and supply chain disruptions incited inflationary pressures, ratcheting up living costs. This resulted in many people’s real household disposable income’s plummeting, forcing them to cut discretionary spending on goods like sporting equipment. Despite central banks across Europe raising interest rates to curb rising prices, inflation persisted in the two years through 2023, hurting demand. However, rising sport participation and health consciousness have supported revenue in recent years, driven by effective government initiatives. This includes the Erasmus+ Sport programme, which supports grassroots sports projects across Europe. According to a 2022 survey from the European Commission, Finland tops the list of countries most likely to exercise at least once a week, at 71% of respondents. Import competition has impacted the industry with consumers opting for cheaper alternatives from low-cost production countries amid the cost-of-living crisis. This forced manufacturers to focus their efforts on premium, performance-focused gear, maintaining revenue growth. Revenue is forecast to swell at a compound annual rate of 5.8% over the five years through 2030 to €14.3 billion. Sporting goods manufacturing will welcome declining costs as inflationary pressures subside in the short term. However, uncertainty surrounding Trump’s tariffs policies will hamper GDP growth due to businesses delaying investment projects which would have potentially aided demand for sports goods manufacturers. This will force manufacturers to diversify into faster-growing or tariff-free markets like Asia. Sport participation will continue to rise, supported by robust funding towards promoting exercise as governments seek to slow down rising obesity across Europe. Yet, countries like France facing budget pressures have slashed funding aimed at promoting sports, hindering demand for sports goods manufacturers.

The sporting goods manufacturing industry has benefitted from rising health consciousness over the past decade, which spurred an uptick in sports participation, driving demand. However, inflationary pressures plagued the industry in the aftermath of the COVID-19 outbreak, resulting in people cutting discretionary spending. Revenue is expected to grow at a compound annual rate of 2.6% over the five years through 2025 to €10.8 billion, including an estimated jump of 1.8% in 2025. Profit is also expected to edge upwards to 12.2% in 2025 as higher interest rates cool inflation and ease input cost pressures. Following the COVID-19 outbreak, pent-up demand and supply chain disruptions incited inflationary pressures, ratcheting up living costs. This resulted in many people’s real household disposable income’s plummeting, forcing them to cut discretionary spending on goods like sporting equipment. Despite central banks across Europe raising interest rates to curb rising prices, inflation persisted in the two years through 2023, hurting demand. However, rising sport participation and health consciousness have supported revenue in recent years, driven by effective government initiatives. This includes the Erasmus+ Sport programme, which supports grassroots sports projects across Europe. According to a 2022 survey from the European Commission, Finland tops the list of countries most likely to exercise at least once a week, at 71% of respondents. Import competition has impacted the industry with consumers opting for cheaper alternatives from low-cost production countries amid the cost-of-living crisis. This forced manufacturers to focus their efforts on premium, performance-focused gear, maintaining revenue growth. Revenue is forecast to swell at a compound annual rate of 5.8% over the five years through 2030 to €14.3 billion. Sporting goods manufacturing will welcome declining costs as inflationary pressures subside in the short term. However, uncertainty surrounding Trump’s tariffs policies will hamper GDP growth due to businesses delaying investment projects which would have potentially aided demand for sports goods manufacturers. This will force manufacturers to diversify into faster-growing or tariff-free markets like Asia. Sport participation will continue to rise, supported by robust funding towards promoting exercise as governments seek to slow down rising obesity across Europe. Yet, countries like France facing budget pressures have slashed funding aimed at promoting sports, hindering demand for sports goods manufacturers.

The sporting goods manufacturing industry has benefitted from rising health consciousness over the past decade, which spurred an uptick in sports participation, driving demand. However, inflationary pressures plagued the industry in the aftermath of the COVID-19 outbreak, resulting in people cutting discretionary spending. Revenue is expected to grow at a compound annual rate of 2.6% over the five years through 2025 to €10.8 billion, including an estimated jump of 1.8% in 2025. Profit is also expected to edge upwards to 12.2% in 2025 as higher interest rates cool inflation and ease input cost pressures. Following the COVID-19 outbreak, pent-up demand and supply chain disruptions incited inflationary pressures, ratcheting up living costs. This resulted in many people’s real household disposable income’s plummeting, forcing them to cut discretionary spending on goods like sporting equipment. Despite central banks across Europe raising interest rates to curb rising prices, inflation persisted in the two years through 2023, hurting demand. However, rising sport participation and health consciousness have supported revenue in recent years, driven by effective government initiatives. This includes the Erasmus+ Sport programme, which supports grassroots sports projects across Europe. According to a 2022 survey from the European Commission, Finland tops the list of countries most likely to exercise at least once a week, at 71% of respondents. Import competition has impacted the industry with consumers opting for cheaper alternatives from low-cost production countries amid the cost-of-living crisis. This forced manufacturers to focus their efforts on premium, performance-focused gear, maintaining revenue growth. Revenue is forecast to swell at a compound annual rate of 5.8% over the five years through 2030 to €14.3 billion. Sporting goods manufacturing will welcome declining costs as inflationary pressures subside in the short term. However, uncertainty surrounding Trump’s tariffs policies will hamper GDP growth due to businesses delaying investment projects which would have potentially aided demand for sports goods manufacturers. This will force manufacturers to diversify into faster-growing or tariff-free markets like Asia. Sport participation will continue to rise, supported by robust funding towards promoting exercise as governments seek to slow down rising obesity across Europe. Yet, countries like France facing budget pressures have slashed funding aimed at promoting sports, hindering demand for sports goods manufacturers.

The sporting goods manufacturing industry has benefitted from rising health consciousness over the past decade, which spurred an uptick in sports participation, driving demand. However, inflationary pressures plagued the industry in the aftermath of the COVID-19 outbreak, resulting in people cutting discretionary spending. Revenue is expected to grow at a compound annual rate of 2.6% over the five years through 2025 to €10.8 billion, including an estimated jump of 1.8% in 2025. Profit is also expected to edge upwards to 12.2% in 2025 as higher interest rates cool inflation and ease input cost pressures. Following the COVID-19 outbreak, pent-up demand and supply chain disruptions incited inflationary pressures, ratcheting up living costs. This resulted in many people’s real household disposable income’s plummeting, forcing them to cut discretionary spending on goods like sporting equipment. Despite central banks across Europe raising interest rates to curb rising prices, inflation persisted in the two years through 2023, hurting demand. However, rising sport participation and health consciousness have supported revenue in recent years, driven by effective government initiatives. This includes the Erasmus+ Sport programme, which supports grassroots sports projects across Europe. According to a 2022 survey from the European Commission, Finland tops the list of countries most likely to exercise at least once a week, at 71% of respondents. Import competition has impacted the industry with consumers opting for cheaper alternatives from low-cost production countries amid the cost-of-living crisis. This forced manufacturers to focus their efforts on premium, performance-focused gear, maintaining revenue growth. Revenue is forecast to swell at a compound annual rate of 5.8% over the five years through 2030 to €14.3 billion. Sporting goods manufacturing will welcome declining costs as inflationary pressures subside in the short term. However, uncertainty surrounding Trump’s tariffs policies will hamper GDP growth due to businesses delaying investment projects which would have potentially aided demand for sports goods manufacturers. This will force manufacturers to diversify into faster-growing or tariff-free markets like Asia. Sport participation will continue to rise, supported by robust funding towards promoting exercise as governments seek to slow down rising obesity across Europe. Yet, countries like France facing budget pressures have slashed funding aimed at promoting sports, hindering demand for sports goods manufacturers.

The sporting goods manufacturing industry has benefitted from rising health consciousness over the past decade, which spurred an uptick in sports participation, driving demand. However, inflationary pressures plagued the industry in the aftermath of the COVID-19 outbreak, resulting in people cutting discretionary spending. Revenue is expected to grow at a compound annual rate of 2.6% over the five years through 2025 to €10.8 billion, including an estimated jump of 1.8% in 2025. Profit is also expected to edge upwards to 12.2% in 2025 as higher interest rates cool inflation and ease input cost pressures. Following the COVID-19 outbreak, pent-up demand and supply chain disruptions incited inflationary pressures, ratcheting up living costs. This resulted in many people’s real household disposable income’s plummeting, forcing them to cut discretionary spending on goods like sporting equipment. Despite central banks across Europe raising interest rates to curb rising prices, inflation persisted in the two years through 2023, hurting demand. However, rising sport participation and health consciousness have supported revenue in recent years, driven by effective government initiatives. This includes the Erasmus+ Sport programme, which supports grassroots sports projects across Europe. According to a 2022 survey from the European Commission, Finland tops the list of countries most likely to exercise at least once a week, at 71% of respondents. Import competition has impacted the industry with consumers opting for cheaper alternatives from low-cost production countries amid the cost-of-living crisis. This forced manufacturers to focus their efforts on premium, performance-focused gear, maintaining revenue growth. Revenue is forecast to swell at a compound annual rate of 5.8% over the five years through 2030 to €14.3 billion. Sporting goods manufacturing will welcome declining costs as inflationary pressures subside in the short term. However, uncertainty surrounding Trump’s tariffs policies will hamper GDP growth due to businesses delaying investment projects which would have potentially aided demand for sports goods manufacturers. This will force manufacturers to diversify into faster-growing or tariff-free markets like Asia. Sport participation will continue to rise, supported by robust funding towards promoting exercise as governments seek to slow down rising obesity across Europe. Yet, countries like France facing budget pressures have slashed funding aimed at promoting sports, hindering demand for sports goods manufacturers.