Global goods trade momentum seems to be hitting the brakes in late 2025. The WTO's latest barometer caught something interesting: that explosive first-half growth? Turns out it was heavily inflated by frontrunning behavior. Companies rushed to stockpile imports ahead of anticipated tariff walls going up. AI chip demand added fuel to that fire too.

But now the picture's shifting. Second-half data suggests the party's cooling off. Whether this slowdown reflects normalization after the panic-buying phase or signals deeper structural headwinds remains the question. Either way, tariff uncertainty and tech sector appetite are clearly steering trade flows right now. Worth watching how this plays into broader market liquidity and risk sentiment going forward.