Tariffs and trade controls are expanding rapidly around the world. Macroeconomic uncertainty is growing. Second-order effects of government actions are multiplying. The first global economic shock since the COVID-19 pandemic has arrived.

While geopolitical tensions have been rising for several years, the recent wave of trade controls and reciprocal tariffs has come on quickly and intensely. Not since the 1930s has the world seen this level of tariff activity.

Read the full article here at McKinsey & Company: https://www.mckinsey.com/capabilities/geopolitics/our-insights/navigating-tariffs-with-a-geopolitical-nerve-center?utm_medium=DSMN8&utm_source=LinkedIn&utm_user=14419233730011051