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Are nations drifting from US to build new alliances?

The event was dominated by the announcement that US President Donald Trump and Chinese President Xi Jinping had agreed to a temporary truce in their long-standing trade war. On the sidelines, the two leaders held high-level discussions and committed to easing tensions while seeking ways to stabilise their economic relationship.

Although the move brought a short-term sense of calm to the volatile US-China trade equation, global trade sentiment nevertheless remains far from settled as Washington’s tariff-heavy stance continues to reverberate across the global economy, forcing nations to rethink their trade strategies and reduce dependence on the US market.