In this episode, we welcome macro analyst and geopolitical expert Mikkel Rosenvold from Steno Research to discuss the global impact of the Trump administration’s new tariff wars, shifting US economic strategies, and the volatile landscape of 2025 markets.We dive deep into who the real winners and losers are in the ongoing trade disputes—spotlighting the impact on companies like Temu, the evolving China–US–EU dynamic, and why traditional narratives might be missing the mark.Mikkel shares unique insights into running a data-driven hedge fund in unpredictable times, the role of geopolitical risk in investment decisions, and how events like the war in Ukraine and Middle East conflicts are shaping financial markets.We also explore the future of commodities—especially copper and uranium—how electrification is changing the game, and the ongoing revolution in crypto. Mikkel explains why bitcoin and digital assets are now “too big to fail,” the influence of ETFs and institutional capital, and what tokenization means for the next generation of finance.