Trump Trade Policy
Macro
Markets
Walmart’s Tariff Moat: How Scale and Automation Created 400-Basis-Point Advantage Over Rivals
While Walmart maintained 24.85% gross margins through sourcing diversification and $6.4 billion in advertising revenue, competitors absorbed 100-570 basis point compression under Trump-era trade policy.
Geopolitics
NATO Members Hit Spending Targets as Alliance Cohesion Fractures
All 32 allies now meet defense budget baseline for first time, but Trump's trade threats and Ukraine aid cuts push Europe toward strategic autonomy.