In a major shift in trade policy, the United States has officially doubled tariffs on imported steel and aluminum, raising rates from 25% to 50%. Spearheaded by former President Donald Trump, this decision is aimed at safeguarding U.S. manufacturing and addressing foreign dumping practices, citing national security as justification.

The World Bank has issued a sobering forecast for global commodity markets, projecting a significant decline in real prices over the next two years. According to its latest Commodity Markets Outlook, prices for raw materials are expected to fall by 12% in 2025 and a further 5% in 2026—reaching their lowest inflation-adjusted levels since the early 2020s. This shift comes amid a broader economic deceleration, in part triggered by protracted trade tensions and geopolitical uncertainty.

Swiss food manufacturer Nestle SA $NSRGY, known for its popular products such as Nespresso coffee and KitKat chocolate bars, recently published its financial results for the first quarter of 2025. The increase in revenue indicates that the company is successfully navigating challenges related to rising commodity prices, particularly for coffee and cocoa.