Global trade reached record highs in 2025 with 6.5% year-on-year growth, fuelled by AI-related goods despite US tariff hikes, according to McKinsey & Company. The report highlights that investment in AI infrastructure was the primary driver, with trade in specialised hardware growing by 40%. While Taiwan and South Korea benefited from semiconductor demand, US-China bilateral trade fell by 30%. The European Union faces competitive pressure, particularly in the automotive sector, as Chinese electric vehicle exports continue to gain market share.