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From left to right, Prime Minister of Bavaria Markus Soeder, Chairman of the CDU Friedrich Merz, Heads of the SPD Lars Klingbeil, and Saskia Esken arrive at a press conference after successful coalition negotiations in Berlin, Germany, on April 9, 2025.
Emmanuele Contini/NurPhoto via Reuters

Germany’s leading establishment parties reached a grand coalition deal on Wednesday, bringing Europe’s largest economy a step closer to having a formal government amid severe domestic and global challenges.

Jess Frampton

Globalization helped make the United States the most prosperous nation in history. But many Americans feel they haven’t benefited from free trade and voted for Donald Trump to “liberate” them from the system the United States built over the past 80 years. He is delivering.

Listen: For a special edition of the GZERO World Podcast, Ian Bremmer sits down with former Treasury Secretary Larry Summers to get his economic assessment of President Trump's unprecedented imposition of tariffs, which has sparked an escalating trade war.

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On a scale of 1-10, how irritated is former Treasury Secretary Larry Summers by the Trump administration's escalating trade war? He's at an 11. On GZERO World with Ian Bremmer, Summers says he is highly concerned with the White House's ad hoc and escalating imposition of tariffs, which he describes as the "worst, most consequential, self-inflicted wound in US economic policy since the Second World War."

A group of migrants sit as they wait to be transported for processing on the day the U.S. 5th Circuit Court of Appeals hears oral arguments on Texas' motion to lift a block on its SB4 immigration law that would allow state officials to arrest migrants suspected of being in the country illegally, in El Paso, Texas, U.S. March 20, 2024 .
REUTERS/Justin Hamel
US Secretary of Defense Pete Hegseth and Panama's Minister of Public Security Frank Abrego shake hands n Panama City, Panama, on April 8, 2025.
REUTERS/Aris Martinez

US Defense Secretary Pete Hegseth vowed on Tuesday to work with Panama to “take back the Panama Canal from China’s influence.” Hegseth, the first top US military official to visit Panama in decades, held security talks with the country’s president, José Raul Mulino.

US President Donald Trump attends a bilateral meeting with China's President Xi Jinping during the G20 leaders summit in Osaka, Japan, June 29, 2019.
REUTERS/Kevin Lamarque/File Photo

With the Trump administration’s reciprocal tariffs taking effect on Wednesday, the US’s largest trading partner, China, has signaled that it is not backing down from a trade war.