A container ship is berthed at the container terminal in Qingdao, China's eastern Shandong province on June 25, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT

Chinese-made MG Cyberster electric vehicles wait to be loaded onto a ship for export at a car yard in Yantai, China's eastern Shandong province on June 25, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT

This aerial photo shows containers at a port in Qingdao, China's eastern Shandong province on June 25, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT

This aerial photo shows a tanker unloading imported crude oil at a terminal port in Qingdao, in China's eastern Shandong province on June 25, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT

A man walks past an electronic quotation board displaying the Nikkei Stock Average on the Tokyo Stock Exchange along a street in Tokyo on June 25, 2026. (Photo by Kazuhiro NOGI / AFP via Getty Images)

NAPA, CALIFORNIA - JUNE 24: (L-R) Maya Allen and Laney Crowell, Founder & CEO, Saie, attend The Business of Beauty Global Forum 2026 at Stanly Ranch on June 24, 2026 in Napa, California. (Photo by Frazer Harrison/Getty Images for the Business of Fashion)

NAPA, CALIFORNIA - JUNE 24: (L-R) Pilkyung Yoon Choi, CMO, Laneige, and Danessa Myricks attend The Business of Beauty Global Forum 2026 at Stanly Ranch on June 24, 2026 in Napa, California. (Photo by Frazer Harrison/Getty Images for the Business of Fashion)

NAPA, CALIFORNIA - JUNE 24: (L-R) Annabel Bolton and Wendy Franks, Amazon speak onstage during The Business of Beauty Global Forum 2026 at Stanly Ranch on June 24, 2026 in Napa, California. (Photo by Monica Schipper/Getty Images for The Business of Fashion)