Despite recent trade and foreign policy turbulence, a close look at the data suggests that predictions of globalization's collapse are overstated. Global trade has continued to grow, most countries are expanding'not retreating from'international trade agreements, and U.S. tariffs, while disruptive, are constrained by exemptions, economic realities, legal limits, and public opinion. Much international business already occurs among friendly countries, and corporate 'de-risking' strategies often increase cross-border trade and investment rather than reduce them. While prudent business leaders should take threats to globalization very seriously, the evidence suggests globalization is being reshaped and rebalanced'not reversed'and companies are adapting to a more turbulent international environment.
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