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Even without final details, those words carried weight. They hint at a potential stabilization in one of the world's most important trading relationships - a stabilization that markets immediately priced in.

The rally that followed was broad and emphatic. Hyundai Motor surged more than 8%, Kia climbed over 7%, and Samsung Electronics hit an all-time high, rising 2.84%. Industrial equipment firms and exporters also advanced, reinforcing the sense that investors are once again rewarding economies built on real production, not just liquidity.

Behind this optimism lies something more profound: proof that supply chains have evolved.

The IMF cited the“agility of the private sector” as a key reason for its upgrade, noting how businesses front-loaded imports in the first half of the year and reorganised trade routes to bypass bottlenecks.

The corporate response to tariffs has been faster, smarter, and more global than policymakers expected. In short, private enterprise has outmanoeuvred politics.

This is the new global trade reality. Companies are not waiting for governments to fix the rules; instead, they are rewriting them through diversification and technology.

South Korea, with its sophisticated logistics, advanced manufacturing, and deep trade ties across Asia, has been at the forefront of this shift. Its firms have developed alternative supply routes, hedged costs effectively, and expanded into markets where US–China tensions have created openings.

There are three clear takeaways for global investors.

First, tariff anxiety has limits. Markets are showing that adaptation can blunt the economic impact of protectionism. The IMF's findings that the effects of US tariffs are“modest” highlight that flexibility, innovation, and global integration can still produce growth even in a constrained policy environment.

Second, Asia's industrial core remains pivotal. South Korea's success reflects a broader regional strength. Semiconductor demand is rebounding, electric vehicle exports are accelerating, and industrial equipment manufacturers are benefiting from nearshoring and infrastructure upgrades worldwide.

For wealth managers, this suggests that selective exposure to Asia's export economies, particularly those with strong corporate governance and advanced manufacturing bases, is once again justified.

Third, trade diplomacy still matters to market psychology. Investors are sensitive to tone as much as to tariffs. Bessent's comments may have been brief, but they reminded markets that dialogue continues - and that cooperation, however fragile, remains preferable to confrontation.

The IMF's forecast upgrade also speaks to a deeper structural insight: globalisation is not ending, it is evolving. Supply chains are being rebalanced, not dismantled. Production is shifting, not shrinking.