Global Macro Research
Global Macro ResearchThe Monthly Macro Outlook Video - August 2025
Trade deals, tariff floors and fiscal flashpoints – Lizzy Galbraith breaks down the latest developments shaping the economic outlook.
Author
Lizzy Galbraith
Senior Political Economist
Duration: 4 Mins
Date: 04 Aug 2025
From Washington to Westminster, economic policy is entering a new phase. In this month’s video, Lizzy Galbraith discusses how evolving US trade agreements and rising fiscal pressures in Europe could reshape the investment landscape.
Key highlights:
- Tariff reset. Why a 15% baseline may become the new normal for US trade – and what it means for global trading partners.
- Big pledges, small print. Japan and the EU promise billions in US investments and purchases but how real are these commitments?
- Uncertainty relief? Why these deals may reduce trade friction but lock in higher costs for the US and the rest of the world.
- UK fiscal strain. Weak data and rising gilt yields raise the risk of breaching the government’s fiscal rules. Are higher taxes and revised rules on the horizon?
- French budget gridlock. Political deadlock threatens spending cuts and could trigger a no-confidence vote for the prime minister.
Watch the video for more details.
