ISPI Report 2026: Free for All

• Annual report
  by Alessandro Colombo and Paolo Magri
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The ISPI Report 2026 portrays a world of "anything goes": a world that seems to have lost its brakes, its rules, and its compass. Donald Trump's return to the White House has accelerated the deregulation of global coexistence, at a time when the post-Cold War order is crumbling without any credible alternative taking shape. In this context, the likelihood of major conflicts is rising, diplomacy is often understood as coercion, alliances have become more fluid, and multilateral institutions are increasingly weakened.

From the arms race to the climate crisis, from the fragmentation of trade to technological competition, this Annual Report provides an essential lens for understanding why freedom without rules risks turning into permanent disorder.

Table of Contents

Introduction, Alessandro Colombo, Paolo Magri

SECTION I - THE WORLD OF THE "FREE-FOR-ALL"

1. Farewell to the Post-War Era. The World in the Wake of Trump 2.0, Alessandro Colombo (ISPI and University of Milan)
2. Defence: An Armaments Free-for-All, Antonio Missiroli (ISPI and Sais Europe)
3. International Law: What Has Happened to the Rules?, Pasquale De Sena, Diego Mauri (University of Palermo)
4. Is International Trade Possible Without Rules?, Lucia Tajoli (ISPI and Politecnico of Milan)
5. Finance, Cryptocurrencies, and the Dollar: How Free Are They Really?, Franco Bruni (ISPI)
6. Energy and Climate… One Step Forwards and Two Steps Back, Massimo Lombardini (ISPI)

SECTION II - "FREE-FOR-ALL" IN ACTION
CASE STUDIES

1. Free-for-all, Made in the USA, Mario Del Pero (ISPI and Sciences Po)
2. The Middle East: What Has Changed Since Trump's Return to Office?, Valeria Talbot, Ugo Tramballi (ISPI)
3. Ukraine and the Cost of "Anything Goes", Eleonora Tafuro Ambrosetti (ISPI)
4. Artificial Intelligence: Every Country for Itself, Alessandro Aresu (writer and consultant)
5. "Free-for-All" in Space, Clelia Iacomino (European Space Policy Institute - ESPI)
   
   Conclusion. Europe in Donald Trump's Era, Mario Monti (Life Senator of the Italian Republic; President, Istituto Javotte Bocconi)