Global Political Analysis

Trump is hitting Europe on two fronts at once: cars and deterrence. New tariffs are undermining the export model, while the cancellation of the US missile deployment in Germany exposes a security gap Europe cannot quickly fill. Strategic autonomy is no longer an abstract idea — it is becoming a hard stress test for markets.

Note: As of 1 August, the Global Political Report (GPA) will be discontinued as a standalone publication. Politics and financial markets are deeply intertwined, and geopolitical analysis will from that date be fully integrated into our other publications, including Global Financial Markets.

The Iran crisis, Trump’s tariff offensive, and the war of attrition in Ukraine are not isolated shocks, but signs of a broader shift in the global order. In this new world, security, geopolitics, the economy, and financial markets are becoming increasingly intertwined. What does this mean for investment portfolios, growth, and political stability?