James McDonald, Director of Data, Intelligence, and Forecasting at WARC, shares insightful analysis on the future of advertising amidst economic upheaval. He discusses how tariffs are projected to slash ad spending by $20 billion and dives into the impact of rising interest rates on tech advertising budgets. The evolving landscape of retail media, especially TikTok's role, is explored, along with the contrasting challenges facing the US and Chinese ad markets. Brands are reminded to adapt strategies to navigate this volatile environment.