The United States made a step forward in efforts to reshape global trade with the May 8 announcement of its first trade agreement, inking a deal with the United Kingdom. Yet uncertainty remains the word of the hour, following a tougher stance on trade from the current U.S. administration. The executive order for a baseline 10 percent tariff on all countries took effect April 5, whereas additional reciprocal tariffs applied to many countries are on a 90-day pause—now including China.
Urban Land: U.S. trade policy has the potential to create broad ripple effects across the commercial real estate market. From your perspective, what potential impact are you most concerned about, and what near-term impacts are you already seeing materialize?
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