President Trump’s second term brings global uncertainty with policy shifts in trade, investment, and international relations reshaping the global order. SCB EIC predicts U.S. tariff hikes, potentially leading to a new wave of global trade wars impacting the economy. Thailand faces challenges from U.S. protectionist measures and stagnant economic recovery. SCB EIC recommends short and long-term strategies for economic transformation and suggests Thai businesses adapt with a 4P strategy.