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News & Articles By Patrick Lewis
11/04/2025
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By Patrick Lewis
Novatek chair: EU phase-out of Russian gas could spark “unprecedented” price surge
Leonid Mikhelson, chairman of Russian energy giant Novatek, warned that the EU’s plan to phase out Russian gas could trigger an unprecedented global price surge, with European consumers hit hardest. Russia supplies about 10 percent of the world’s liquefied natural gas (LNG); removing it from the market could destabilize supply and mirror the 2021 energy […]
10/29/2025
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By Patrick Lewis
U.S. intensifies push for Hungary to end Russian oil dependency
U.S. Ambassador to NATO, Matthew Whitaker, emphasized that Hungary has not developed a plan to reduce its reliance on Russian energy and stated that the U.S. is prepared to assist Hungary in this transition. Prime Minister Viktor Orbán warned that abruptly halting Russian energy imports could lead to a 4 percent drop in Hungary’s economic […]
10/16/2025
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By Patrick Lewis
Trump threatens China with cooking oil cutoff, readies 100% tariffs if Beijing pushes back
President Trump has threatened to sever trade in Chinese cooking oil and other goods unless China sharply increases its purchase of U.S. soybeans—a forceful stance intended to defend American farmers and push back against unfair trade practices. He also signaled he may fast?track a 100?percent tariff on all Chinese imports if Beijing tightens restrictions on […]
10/13/2025
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By Patrick Lewis
U.S. declares economic warfare: 100 percent tariffs on all Chinese exports send shockwaves through world markets
The U.S. has announced 100 percent tariffs on all Chinese exports (effective Nov. 1 or sooner), triggering dramatic market declines and fears of financial contagion. Major stock indices plunged: the S&P 500 fell 2.7 percent, the Nasdaq dropped 3.6 percent and the Dow lost nearly 900 points in one session. Washington defends the tariff as […]
09/29/2025
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By Patrick Lewis
Trump unveils sweeping tariff package, slams pharmaceutical imports
Trump’s new tariff package, effective Oct. 01, imposes a 25 percent duty on heavy trucks, 30 percent on upholstered furniture, 50 percent on kitchen cabinets and bathroom vanities and a full 100 percent tariff on branded or patented pharmaceutical imports (unless a U.S. plant is underway). Pharmaceutical companies can avoid the 100 percent tariff if […]
09/28/2025
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By Patrick Lewis
Trump to use tariff revenue for farm relief amid trade war pressures
President Trump announced a plan to channel tariff revenues into immediate financial relief for U.S. farmers affected by trade tensions, particularly with China. Trump described the aid as a short-term “stopgap” until the benefits of tariffs begin to accrue to the agricultural sector. The farm sector has been squeezed by falling crop prices, rising input […]
09/20/2025
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By Patrick Lewis
Brussels proposes major sanctions on Israel amid Gaza crisis
The European Commission has proposed suspending preferential trade provisions under the EU?Israel Association Agreement, affecting about 37 percent of Israeli goods exported to the EU, worth around €15.9 billion ($18.7 billion), which currently enjoy zero or reduced tariffs. Sanctions are recommended against specific Israeli figures and groups: far?right ministers Itamar Ben?Gvir and Bezalel Smotrich, “violent […]
09/17/2025
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By Patrick Lewis
China condemns U.S. efforts to impose steep secondary tariffs on nations purchasing Russian oil
China has sharply rejected U.S. efforts to push G7 and NATO allies into imposing steep secondary tariffs on nations purchasing Russian oil, calling such demands economic coercion and warning of countermeasures if its interests are harmed. The U.S., under President Trump and via Treasury Secretary Scott Bessent, has proposed tariffs of 50?100 percent on imports […]
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