1、Cushman&WakefieldCONTENTSTRUMP 2.0THE FIRST 100 DAYSIMPLICATIONS FOR THEECONOMY&PROPERTYAPACAs of April 282Cushman&WakefieldCONTENTSEXECUTIVE SUMMARYCURRENT STATE OF APAC ECONOMY&CREAPAC ECONOMIC OUTLOOKAPAC CRE IMPLICATIONSAPAC U.S.TRADE RELATIONSCONTENTSEXECUTIVE SUMMARYCushman&WakefieldCONTENTSIn

2、 the first 100 days,we have observed a hard shift in U.S.economy policy under President Trump.From an international perspective,trade policy and the trajectory of U.S.growth are front of mind.Given the flurry of changes,the word that dominated the marketplace in the first 100 days was uncertainty.Th

3、e APAC economy entered 2025 in good shape,but the policy uncertainty is pointing to slower growth.That being said,the effects will not be uniformly distributed across the region.Domestic consumption should help support regional growth,but Asia Pacific will feel the effects of the global slowdown.U.S

4、.recession odds are rising and short-term stagflationmeaning slowing economic growth and sticky inflationis emerging as the new consensus for 2025.Expected stronger growth in the U.S.in 2026 could provide tailwinds for the Asia Pacific region.The situation remains fluid with many developments still

5、unfolding,and there may be both potential benefits and drawbacks to these policy changes that will unfold over time.The EconomyThe APAC property sector performed well coming into 2025,characterised by generally healthy occupier demand and improving investment transaction activity.The manufacturing s

6、ector exporting to the U.S.will be the most impacted by the tariffs,though all sectors will be affected to some degree by a wider economic slowdown.Leasing and investment activity will likely slow in the near term upon delayed decision making.However,past experience has shown the region can rebound