Editor's Note: This article is the seventh installment in an ongoing RANE series on the shifting patterns of global trade. The first installment provided a broad overview of the geopolitical and economic implications of these shifts. The second examined how recent changes to U.S. trade and tariff policies will affect nearshoring trends in Canada, Latin America and the Caribbean. The third assessed how rising tensions between Israel, the United States and Iran could impact shipping in the Strait of Hormuz. The fourth installment assessed how U.S. reciprocal tariffs will have major economic and political impacts on Japan and South Korea, particularly as both East Asian countries prepare for summer elections. The fifth discussed India's evolving trade strategy of boosting key exports while protecting sensitive sectors. And the sixth assessed that Turkey's trade diversification strategy will continue to hinge on neutrality.