The Fed cuts by 25 basis points as expected, with one more expected next month. The Fed is being cautious as the US economy lands softly. China’s EV exports to Australia surge. New Zealand is wary of how tariffs might affect beef exports. In our bonus Deep Dive interview, ANZ Chief Economist for Southeast Asia and India Sanjay Mathur analyses how Trump’s tariffs might affect economies in Asia, outside of China. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/