What could a second Donald Trump presidency look like, should he defeat US President Joe Biden in November, and how could the Republican’s policies shape markets and the world economy?

We discuss with Elbridge Colby, a member of the first Trump administration and potential National Security Advisor if there’s a second one.

Also on this episode, a conversation with Bloomberg political correspondent Nancy Cook, who joins from the Republican National Convention in Milwaukee. And finally, Bloomberg Editor in Chief John Micklethwait discusses his column on what lessons the Republicans could glean from the recent defeat of the Conservatives in the UK.