During his campaign, President Donald Trump promised steep tariffs, and he has delivered. As of 2025, US consumers are facing an overall average effective tariff rate of 17.4%, the highest since 1935.

How can investors best finance the transition? As Europe accelerates its transition to a low-carbon economy, electricity grids are crucial. Originally built for a fossil-fuel-based energy system, Europe’s power networks now require transformation so they can deliver clean energy reliably and efficiently, which demands significant investment. Without it, Europe risks bottlenecks, higher prices and missed climate targets.

“Javier Milei’s dollarization and fiscal austerity proposals overlook the complexities of modern economies, ignore lessons from historical crises, and open the door for accentuating already severe inequalities.”