As the dust settles on the US Presidential election, Donald Trump is now master of all he surveys in US politics. The Republican Party is beholden to him, and through it he controls the Senate and the House of Representatives. This could enable him to push forward radical changes [1], and the Supreme Court is unlikely to get in the way. How will these changes affect the US and the rest of the world? Is the rest of the world ready for the new administration?

I see the following risks emerging from Trump’s election platform and consider these risks below. These can be broadly split in economic and financial risks (#1 - #7), geopolitical risks (#8 - #11) and climate change. Some, such as tariffs and trade wars, or Ukraine and NATO, may be very important in the short term. Others, such as climate change or higher deficits, may be more important in the longer term.

1. Tariffs and trade wars: a key element of Trump’s election campaign...