As global markets continue to react to shifting geopolitical tides, a recent panel discussion in Singapore -- Trump’s First 100 Days: Global Dynamics and Geopolitical Challenges -- brought together experts from trade, legal, and financial sectors to unpack the implications of U.S. policy changes on global investments.

Co-hosted by Apex Group, PwC Singapore, and Datasite, the event offered a timely and insightful look into how businesses and investors are adapting to a rapidly evolving landscape.

Moderated by Desmond Chua, APAC CRO at Datasite, the panel included thought leaders Frank Debets, Managing Partner at PwC’s Asian World Trade Management Services practice; Thomas Kim, partner in the corporate and finance division of Hogan Lovells; and Yannick Le Borgne, a seasoned FX and derivatives trader at MonFX (Monex Group).

Here are the top seven highlights from their perspectives on trade disruptions, fund structuring, and currency market volatility.

1. Tariffs are now a strategic priority

What was once a niche concern has become a central issue in investment planning. Tariffs are no longer minor operational costs—they can significantly impact deal viability. Many companies are discovering that they lack the internal expertise and data to assess these risks effectively, leading to delays and even deal cancellations during due diligence.

2. Capital deployment slows amid uncertainty

Private equity firms and asset managers are taking a more cautious approach. While fund structures remain largely intact, capital deployment has slowed as investors demand deeper insights into supply chains and tariff exposure. This heightened scrutiny is reshaping how and where capital is allocated.

3. FX volatility adds another layer of risk

Currency markets are experiencing increased volatility, particularly around the U.S. dollar. This has varying effects depending on a fund’s stage—those raising capital may see diminished fund sizes, while those exiting investments face unfavorable currency translation. Dual-currency fund structures are gaining traction as a way to mitigate these risks.

4. Legal flexibility is more important than ever

In a volatile environment, legal documents must be built with flexibility in mind. This includes robust risk disclosures, mechanisms for excusing or withdrawing investors, and clauses to address material adverse changes. These tools are becoming essential for navigating geopolitical shocks and regulatory shifts.

5. “Wait and see” is not a strategy

Many companies are pausing decisions in hopes of greater clarity. However, this passive approach may be risky. The panel emphasized the importance of proactive scenario planning, risk assessment, and contingency development to stay ahead of potential disruptions.

6. Trade policy is here to stay

The current trade environment is not a temporary blip. Tariffs and protectionist policies are likely to remain a fixture, driven by both economic and national security concerns. Companies must prepare for a world with higher baseline tariffs and more complex compliance requirements.

7. The U.S. dollar faces long-term pressure

While the dollar remains dominant, rising U.S. debt and shifting global capital flows are creating long-term headwinds. Investors are exploring alternatives, but options remain limited. Central bank policies and U.S. debt refinancing strategies will be critical to monitor in the months ahead.

The panel made one thing clear: the global investment landscape is undergoing a fundamental transformation. From trade policy to FX risk, businesses and investors must adapt quickly and strategically. Whether through smarter legal structuring, deeper due diligence, or proactive risk management, staying ahead of the curve is no longer optional—it’s essential.