Much like the effects of the French revolution, it may be too early to tell the long-term economic impacts of Brexit.

UK growth and investment have almost certainly been lower, and inflation higher, than otherwise. But as President Trump threatens to tear up the global trading system including targeting the EU with tariffs, and European regulation risks stifling the growth benefits of AI, Paul and Luke discuss how the lasting economic consequences of Brexit are still playing out.

Investors can be forgiven for having tariff whiplash, after the threat and then temporary reprieve of 25% US tariffs on Canada and Mexico, and the implementation of additional 10% tariffs on China. Paul and Luke speak to James McCann, Bob Gilhooly, and Lizzy Galbraith from the abrdn economics team about the thinking behind President Trump’s tariff strategy, the economic and monetary policy impacts, and what this all tells us about Trump’s broader agenda.

The US dollar is rising as investors price in Trump’s policy platform of tariffs, tax cuts, and deregulation. But key members of the new US administration want to see a weaker dollar to boost domestic manufacturing. Paul and Luke discuss this fundamental dilemma at the heart of the new administration’s economic policy, and how the US may exercise its full array of hard power tools to achieve economic, political, and territorial objectives.