With President Trump threatening fresh tariffs on various economies, trade wars are back in focus. Moreover, the risk of the trade war spreading to a capital war has become more pressing. The EU has been considering activating its “Anti-Coercion Instrument” in response to US threats to Greenland, which could see services trade and capital flows targeted. Paul, Luke, and Lizzy discuss how a capital war could be the next stage of the global trade war, where the EU may have leverage ...