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Risks to the global expansion are elevated in the face of a broadening trade war, but incoming news highlights a still underlying resilient expansion. The trade drag weighing down 1Q25 US growth is reflecting a boost elsewhere, particularly in Asia where the latest news points to a surge in trade activity in advance of perspective tariffs.

Speakers:

Bruce Kasman

Joseph Lupton

This podcast was recorded on 21 March 2025.

This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclos

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