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What Munich Means for the Shifting Global Order | Trumponomics

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February 19, 2026

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Host Stephanie Flanders is joined by Bloomberg News Editor in Chief John Micklethwait and Jennifer Welch, chief geoeconomics analyst for Bloomberg Economics, to unpack the Munich Security Conference and what it revealed about the shifting global order. From Secretary of State Marco Rubio’s rising influence inside the US administration to Europe’s rethinking of nuclear deterrence and ties with China, the conversation explores how Trump has reshaped alliances.

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Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next.

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What Munich Means for the Shifting Global Order

Guests & Subjects Covered

Host Stephanie FlandersBloomberg News EditorChief John MicklethwaitJennifer WelchBloomberg EconomicsMunich Security ConferenceFrom SecretaryState Marco Rubios

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What Munich Means for the Shifting Global Order | Trumponomics · Bloomberg Podcasts · Sentinel