What is the strategy driving Donald Trump's assertive use of American power?

In the 2026 Owen Harries Lecture, former US Deputy Secretary of State Stephen E Biegun offers a frank insider's assessment of President Trump's foreign policy across both his first and second terms.

He discusses President Trump's reorientation of US policy toward China, the Abraham Accords, his efforts to maximise pressure on Iran, and the dramatic raid that captured Venezuelan President Nicolás Maduro.

Stephen Biegun traces the historical precedents behind President Trump's decisions and examines the logic, and the limits, of a foreign policy built on fear, leverage, and dealmaking.He argues that a strategy designed to produce fear in adversaries and respect from everyone must be accompanied by consistent reassurance to friends. 

Following the lecture, Stephen Biegun joined Lowy Institute Executive Director Dr Michael Fullilove AM for a conversation exploring these themes further.

Since 2013, the annual Owen Harries Lecture has honoured the significant contribution made to the international debate in Australia and the United States by Owen Harries, who was a Nonresident Fellow at the Lowy Institute. This event is part of the Rothschild & Co Distinguished International Fellowship.

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