Just over a year and a half ago, it happened – Trump is back in the White House. Back then, there was all this countdown and discussions everywhere about how long his presidency would last and what it would mean for the world. Now, we can slowly see how it actually impacts things.

At that time, he announced he would sign a bunch of decrees immediately after the inauguration – border security, energy production, all those topics. The inauguration ceremony with Chief Justice Roberts at 12 p.m., the parade to the White House, all the balls in Washington... It was quite an impressive production.

What interests me is: How has this actually affected the global situation? Trade, diplomacy, international relations – these are not isolated topics. Especially for markets and investors, it’s relevant how much longer this term will last and what direction the policies will take.

Some effects are already visible – both positive and negative, depending on how you evaluate them. The markets have reacted, companies are adjusting their strategies. It’s interesting to observe how perceptions vary – some see it as an opportunity, others more critically.

How do you see it now? Has your assessment of Trump’s return to office changed after we’ve had over a year of experience with it?