Tariffs. AI. Geopolitics. Trade in Asia saw major disruptions in 2025—and that can be unsettling. But it’s also important to remember what didn’t change: the progress of trade itself. According to recent research from the McKinsey Global Institute (MGI), US imports and Chinese exports both hit record highs in 2025, and intra-Asian trade deepened, write Gautam Kumra, Jeongmin Seong, and Tiago Devesa in Bloomberg Asia.