January 10, 2026 30 min
Overview
Trump's economic nationalism is unsettling global trade. He exerts pressure, using tariffs to coerce old trading partners into new deals. His flip-flopping on tariff policy dominated European news coverage for weeks. The EU struggled to reach an agreement and ultimately accepted a controversial deal in Scotland. Did the Europeans get taken for a ride? Or was the deal the right step given a global situation in which the battle for raw materials and technologies is already being won elsewhere?
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