📊Executive Summary

Ernst & Young's 2026 Geostrategic Outlook report highlights a shift towards 'friendshoring' and mini-lateral trade deals as global supply chains are redesigned in response to rising tariffs, export controls, and geopolitical risks. The report indicates that trade growth is expected to slow, particularly in North America, as governments prioritize resilience and domestic production over efficiency. The US is likely to maintain high tariffs, especially on strategic sectors like electric vehicles and advanced manufacturing inputs. Additionally, export controls are becoming more prevalent, particularly affecting semiconductors and critical minerals, with China remaining central to these trends. This evolving landscape necessitates close monitoring of procurement strategies and sourcing decisions....