The U.S. Government’s latest trade policy seeks to address its widening trade deficit, which has recently reached a historic annual high. Persistent trade deficits over the past decades, along with the resulting accumulation of external liabilities to finance them, have long been viewed as a key component of global imbalances.

For 153 countries, we estimate the potential of recovering/recycling six energy transition critical minerals—aluminium, cobalt, copper, lithium, nickel and rare earth elements—from their waste and scrap, if these countries have access to the latest technologies.

Following the unprecedented changes in the trade policy of the United States, LDCs must contend simultaneously with significantly higher bilateral tariffs, policy uncertainty, lower growth prospects in many importing countries, a potential re-alignment of supply chains, and a disruption to the existing
multilateral order.

Global growth to remain subdued amid lingering uncertainty. Lower inflation and monetary easing offer relief, but trade tensions, high debt burdens, and geopolitical risks cloud the outlook.

The majority of central banks kept their policy rates unchanged in the first quarter of 2024, closely watching the decisions of the United States Federal Reserve and the European Central Bank.