Donald Trump’s 2025 tariffs were disruptive in the deepest sense. Richard Baldwin argues that while the old trading order was destroyed, a growing share of global commerce is drawn into existing regional trade arrangements, producing an emergent global trading order

Can trade policy drive global climate action? Maximilian Fuchs and Camille Reverdy write that early experience of the EU carbon border adjustment mechanism shows trade can spread carbon pricing, but lower-income partners need support

The G20 is approaching a turning point. Dennis Snower argues that the UK Presidency in 2027 has an opportunity to position the G20 as a platform for managing the complexities of the twenty-first century

A solid EU better regulation framework is undermined by gaps in coverage and quality, making consistent application and stronger oversight essential. Anne Bucher and Elizabeth Golberg discuss steps that could be taken to overcome these weaknesses

For the last year there has been turbulence in the US-EU partnership. Marco Rubio argues that the new alliance should focus on advancing mutual interests and new frontiers, unshackling ingenuity, creativity, and the dynamic spirit to build a new Western century

The global economy has shown resilience despite heightened uncertainty, supply side shocks, and geopolitical risks, but downside risks remain significant. Andrew Bailey says that sustaining growth and financial stability will require innovation, openness, international cooperation, and strong global institutions