Gaurav and the team discuss the newly signed U.S.-U.K. trade deal and whether the de-escalation in global trade tensions will continue. The conversation then turns to the Russia-Ukraine conflict. Andrew is skeptical that the recent U.S.-Ukraine minerals deal will bring a lasting ceasefire any closer, Gaurav and Barbara take stock of Europe’s energy security, while Kamil weighs in on the economic and fiscal impact of higher European defense spending.