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Report

Sep 30, 2025

Turkey in the changing transatlantic trade environment

By Charles Lichfield

Exploring Turkey’s position in the changing global trade order and analysis of the opportunities and challenges facing the country.

Economy & Business European Union

Issue Brief

Sep 29, 2025

The dollar’s role in the fight for US primacy

By Martin Mühleisen

The contours of the second Trump administration’s trade and exchange rate policies are becoming clearer. Economic policies have now become inextricably linked with US foreign policy priorities, including the role of the dollar.

Economy & Business Eurozone

Issue Brief

Sep 29, 2025

Waiting for the Big Bang: Executing the European defense build-up in Germany

By Robin Fehrenbach, Jakob Flemming, and Julia Friedlander

When it comes to European defense spending, Germany can and should be the first mover. By leveraging private capital, the 5% NATO spending target can be seized as an opportunity to avert deindustrialization.

Economy & Business Europe & Eurasia

Issue Brief

Sep 29, 2025

Stable US-EU trade requires a new approach to globalization

By Beth Baltzan

From the China shock to the breakdown of free trade, any assessment of the US-EU trade agreement and the future of transatlantic trade hinges on understanding the leverage that both parties brought to Scotland.

Economy & Business European Union
One dollar bill folded on paper banknote. Business concept.

Issue Brief

Sep 29, 2025

How to dismantle a reserve currency

By Daniel McDowell

For the economic tumult that the dollar has faced over the last eighty years, its political foundations have remained steadfast—until now. As the political order on which the dollar system rests grows creaky, dollar preeminence is also looking wobbly.

Economy & Business Europe & Eurasia

Issue Brief

Sep 29, 2025

What drives the divide in transatlantic AI strategy?

By Alisha Chhangani, Ananya Kumar

The US and EU share AI ambitions but diverge on regulation, risking a fractured Western front. Nowhere is this tension sharper than in financial services, where details matter most.

Artificial Intelligence Digital Policy

Issue Brief

Sep 22, 2025

Expanding Syria’s multilateral development bank engagement

By Basil Kiwan

Estimates of Syria’s post-civil war cost of rebuilding range from $250 billion to $400 billion. To help finance reconstruction and development, Syria’s transitional government should expand its partnerships with international financial institutions (IFIs) and multilateral development banks (MDBs), as these institutions can play a key role in mobilizing global capital.

Economic Sanctions Economy & Business

Issue Brief

Sep 12, 2025

Trustworthy digital identities can set the standards for secure benefits provision in the US

By Ananya Kumar

The proliferation of online services necessitates verifiable digital IDs globally. While they can improve convenience and reduce fraud in benefits provision, they raise privacy concerns and surveillance risks. This paper examines US digital identity challenges, analyzes EU and Japan implementations, and provides policy recommendations for responsible digital ID development in the US.

Cybersecurity Digital Currencies

Issue Brief

Jun 6, 2025

How Japanese economic statecraft has shifted from promotion to protection

By Charles Lichfield

Japan is in a geopolitically challenging neighborhood and is witnessing the basic tenets of its foreign policy—from alignment with the United States to fostering a rules-based environment—come under unprecedented stress.

East Asia Economic Sanctions

Issue Brief

Apr 28, 2025

Modernizing the tools of economic statecraft to meet the challenges of today

By Lesley Chavkin, Eitan Danon, Kimberly Donovan, Andrew Gallucci, and Caroline Hill

As the current administration revisits the functions and mechanics of government, near-term steps can be taken, under existing statutory authorities, to modernize how the United States uses its economic strength to combat national security threats and promote American interests.

Economy & Business Financial Crimes & Illicit Trade