Podcast Summary: The Globalist

Episode: Trump’s First Year Back: Is He Making America Great Again?
Host: Emma Nelson
Date: January 20, 2026

Episode Overview

This episode marks the anniversary of Donald Trump's return to the U.S. presidency, examining the global and domestic consequences of his policies during his tumultuous first year back in office. Anchored by Emma Nelson in London and joined by Monocle's editorial team across Europe, the episode investigates the ongoing realignment of world politics, the shifting U.S.–Europe relationship, economic impacts (especially concerning new American tariffs), and the media’s struggle to keep pace with a relentlessly unpredictable administration. Featuring on-the-ground perspectives from Davos and Greenland, the episode also includes reflections on journalism’s value in an era of rapid news cycles, analysis of national branding in turbulent times, and lighter segments including tech updates and tributes to influential figures.

Key Discussion Points & Insights

1. Trump’s Impact: A Year of Shock and Uncertainty

• Global Disruption and Tariff Wars ([03:55])
  • Key Moment: Tyler Brûlé highlights France's breaking news: Trump threatens 200% tariffs on French wines and champagnes.
    • "These are not just broadsides. I mean, these are full frontal attacks on a key ally... a nation that has counted itself very much as a friend." — Tyler Brûlé, [04:22]
  • Discussion of the broader fallout—American policy unpredictability touches nearly every global market and sector, from Swiss army knives now required to be partially made in the U.S., to wild market swings.
• Endless News Dominance
  • Chris Chermak: "The entire news agenda was dominated by whatever Trump woke up and thought that morning." ([05:35])
  • Hard for non-U.S. stories to break through—Argentina, Papua New Guinea, South Korea are among the countries struggling for international attention.

2. Inside Trump's Governing Style & International Response

• Shift from First Term: Guardrails Gone ([07:22])
  • Chris Chermak: Unlike 2016–2020, there’s less opposition within Trump’s administration, and external resistance (e.g., Democratic Party, public protests) has receded. Trump is testing how far he can go.
    • "Donald Trump respects strength, he admires strength. He almost needs to respect you as an adversary for standing up to him." — Chris Chermak, [07:35]
  • International leaders who push back, like China and Canada, obtain concessions; those who acquiesce see Trump “keep taking.”
• Stability Amidst Chaos ([09:19])
  • Markets and powerful economic actors sometimes act as a brake; when financial markets plummet, Trump often reverses course.
    • "Financial markets... have had ups and downs, but they've also arguably brought that stability because Trump watches... it leads to a course correction from him." — Chris Chermak, [12:31]
  • Trump's pursuit of economic resource acquisition (Greenland, Venezuela) is driven partly by perceived American strength.

3. European & Scandinavian Perspective

• Davos Check-In: Heightened Tensions ([14:35])
  • Gunilla von Haak (Swedish Correspondent): “This is maybe the most important World Economic Forum I’ve covered. Everyone is on their way… trying to solve a huge geopolitical crisis.” ([14:35])
  • Swedish business is shaken by new tariffs; there’s confusion and anger about Trump’s unpredictability—even among NATO allies.
    • _"You can't blackmail us." — Swedish Prime Minister's response to Trump, relayed by Gunilla von Haak ([15:42])
• Fragmented European Unity
  • Macron calls for firmness (punitive counter-tariffs); UK and Italy favor dialogue. There is fear of escalation, especially given Europe's military dependence on the U.S. in the face of Russian aggression.
    • "The EU is not really united on how tough we should now be on Trump." — Gunilla von Haak, [16:32]
  • Worries over transatlantic relationships and Europe's collective security.

4. The Media’s Responsibility and Challenges

• Role of Foreign Correspondents
  • Gunilla von Haak: Emphasizes need for on-the-ground reporting versus automated summaries.
    • "We need to have the correspondents going out there… Those are things you don't get if you only have news desks doing summaries..." ([19:18])
  • The episode defends the value of eyewitness journalism, especially as major outlets shut down foreign bureaus.
• Rise of Leaked Diplomacy
  • Terry Stiazny on Trump’s Social Media ([22:51])
    • Trump posts doctored images mapping a “new” U.S. with flags on Canada, Greenland, Venezuela, and leaks private Macron messages about G7/Syria/Greenland proposals.
    • "Leaders have to assume now that anything they say... is going to end up in the public domain." — Terry Stiazny, [25:32]
  • Norm-breaking transparency erodes trust and diplomatic norms.

5. National “Branding” in Crisis

• Brand USA Under Siege
  • Markus Schergl (Marketing Professor): The U.S.'s brand is "challenged day by day" by the president’s actions; perceptions globally are eroding trust and reputation. ([45:49])
    • "Looking for a new chief executive? Maybe that would be the easy one." — Markus Schergl, [46:25]
  • Real-world effects: Booing of the U.S. anthem at major UK sporting events.
    • "This would be part of a national audit… How are [global constituents] feeling? They're booing..." — Tyler Brûlé, [47:01]
• Brand Switzerland—Resilient but Not Immune
  • Even top-ranked brands like Switzerland take image hits (e.g., the Crans-Montana disaster), but they “learn from crisis.”

6. Greenland: At the Center of a Power Play

• On-the-Ground Dispatch:
  • Andrew Muller from Nuuk: “The locals still seem more bemused than alarmed... perhaps half the population turned out to demonstrate: ‘Greenland is not for sale.’” ([32:43])
• Greenland, Venezuela, Diego Garcia:
  • Trump’s enthusiasm for “acquisition” of strategic territories signals a resurgent U.S. expansionism—causing unease across Europe, Canada, and among small states.

7. Degradation of International Discourse

• Increasingly blunt, direct, even profane language among world leaders eroding civil conduct and diplomacy.
  • "There's this erosion… What happened to civil conduct?... Is this how you conduct yourself across the table?" — Tyler Brûlé, [37:20]

Notable Quotes and Memorable Moments

• On Trump’s World Impact:
  • "Who would have thought…365 days on, we’re having conversations… these are not just broadsides. These are full frontal attacks on a key ally." — Tyler Brûlé, [04:10]
• Guardrails Down:
  • "All of that has been relatively lacking this time around… He’s testing where the resistance will come from." — Chris Chermak, [07:22]
• Europe’s Quandary:
  • "The EU is not really united on how tough we should now be on Trump… there is a fear… What will Trump then do?" — Gunilla von Haak, [16:32]
• On Media’s Duty:
  • "We need to have the correspondents going… Those are things you don't get if you only have news desks doing summaries…” — Gunilla von Haak, [19:18]
• Diplomatic Norm Erosion:
  • "Leaders have to assume now that anything they say... will end up in the public domain." — Terry Stiazny, [25:32]
• National Branding:
  • "Perception makes reality… It’s hard to build up again. There’s no short-term solution." — Markus Schergl, [46:19]
• On Civil Discourse:
  • "This idea of compromise… we sort of see that… storming the door — or I’m going to take over your factory… what does this mean from a generational perspective?" — Tyler Brûlé, [37:20]
• Greenland Dispatch:
  • "In this world, it’s pretty difficult to trudge a few blocks of Nuuk’s snowy streets without ending up in the background broadcasts of half a dozen news networks… Greenland is not for sale." — Andrew Muller, [32:43]

Timestamps for Important Segments

• Introduction: Trump's Second Term and Global Disruption — [03:55]
• Dominance of the Trump News Cycle — [05:21]
• Opposition to Trump, Then and Now — [07:22]
• Markets as a Restraining Force — [09:19], [12:31]
• Swedish/European Perspective from Davos — [14:35]–[19:18]
• Leaked Diplomacy & Trump's Expansive “Board of Peace” — [22:51]–[25:32]
• Greenland Dispatch, Local Response — [32:43]
• Brand USA and National Reputations Under Threat — [45:01]–[48:50]

Additional Segments & Lighter Moments

• Tech Segment: CES highlights include a vibrating chef’s knife and smart glasses (from [53:32]).
• Tribute to Valentino: Discussion and personal remembrances of the legendary designer ([40:49]–[42:43]).
• Uplifting News: Story of Veronica, the tool-using Austrian cow ([29:12]).

Tone and Atmosphere

The episode’s tone is both urgent and reflective, capturing the exhaustion and astonishment of media professionals trying to keep up with a White House that dictates the global conversation minute-to-minute. There's a consistent undercurrent of concern about the fragility both of diplomatic norms and of the reputations nations build over decades—now susceptible to overnight unraveling via tweet. Nevertheless, the hosts and guests maintain the Globalist’s signature composure, humor, and seriousness of purpose, offering both sharp analysis and lighter, humane stories.

Summary for New Listeners

If you missed this episode, you missed an incisive look at the first year of Trump’s second presidency—a year defined by unpredictability, upheaval in international alliances, disruptive economic moves like new tariffs, and a relentless news cycle. World leaders and journalists alike are struggling to adapt, with Europe in particular unsure how to respond to American aggression while protecting its security and economic interests. The episode highlights the critical importance of robust, on-the-ground reporting to make sense of a world in flux, and concludes with reflections on the growing importance—and fragility—of national branding in the age of social media and shock politics.

Listen for:
— Thoughtful, on-the-ground perspectives (Davos, Greenland)
— Illuminating analysis of U.S.–Europe relations and the shifting rules of world diplomacy
— Insights into the struggles of newsrooms in the Trump era
— Engaging features on culture, national identity, and even a tool-using cow named Veronica

*All times in MM:SS format refer to the episode's transcript above.