US President Donald Trump’s “Liberation Day” tariffs were announced right in the middle of us finalising our April forecast numbers. For a short time, it looked as though our July forecasts might be subject to the same uncertain fate, with Israel and Iran engaging in a brief conflict that pulled in the US and threatened to draw in other nations. But as has so often been the case throughout a volatile geopolitical year, the initial headlines dissipated, and things settled down to be nowhere near as bad as first feared.
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