The OECD has lowered its global GDP forecast to 2.9% for both 2025 and 2026, citing U.S. tariffs and weakening investment. Growth estimates for the U.S., UK, and China were revised downward, while inflation remains high. India remains strong, but global trade and fiscal flexibility remain under pressure.

A U.S. federal court has struck down President Trump’s global tariffs, ruling they exceed the limits of the International Emergency Economic Powers Act. The administration has appealed, insisting trade talks remain on track. The ruling affects Executive Order 14257 but leaves other trade measures intact, pending further judicial review.

Spanish hatmaker Fernández y Roche faces a 10 per cent US import tariff, jeopardising its 40-year trade with Orthodox Jewish communities. With a 50 per cent duty possible by July, Spain has launched a €14.1 billion support plan while EU–US trade talks continue.

A High Court injunction has blocked the UK from finalising a sovereignty deal to transfer the Chagos Islands to Mauritius. The legal challenge, filed by a Chagossian-born British citizen, raises concerns over lack of consultation. The planned deal would retain the UK-US base on Diego Garcia for 99 years.

Trump’s Catholic allies are exerting growing influence in Rome as a new conclave approaches. Backed by wealthy donors and political operatives, they are campaigning for a more traditional pope. Central figures include Brian Burch and Steve Cortes, who see Trump’s return as key to reshaping US–Vatican relations and global Catholic leadership.

The “Effective Anti-smoking Policies” Index analyses public policies aimed to eradicate smoking, in 59 countries

Mace hears from economist and climate expert Professor Dieter Helm on his assessment of Cop26

The Swiss Ambassador on how regular referenda and a devolved government embeds Switzerland’s politics with accountability and rooted decisionmaking

Why reports of the death of Davos Man are exaggerated

True strategic autonomy will do much to strengthen the global economy for the EU and its allies