As global diplomacy intensifies on the sidelines of the UN General Assembly in New York this week, attention is turning to the anticipated meeting between Donald Trump and Volodymyr Zelensky. In addition, Trump is expected to hold talks with leaders from Argentina and Turkey, while China, South Korea, and South Africa work to reshape their economic relationships with the U.S. Meanwhile, Japan’s leadership race officially begins, Moldova’s elections carry significant geopolitical implications, and political unrest continues to drive mass protests in Brazil and the Philippines.
Global Snapshot
With Donald Trump and Volodymyr Zelensky preparing to meet in New York, our Central and Eastern Europe advisor, Andrius Tursa, provides insights on what to expect.
Key agenda points
Zelensky will push for U.S. security guarantees for Ukraine and advocate for further sanctions on Russia, as Moscow refuses to compromise in peace talks and escalates its aerial strikes. He has voiced strong backing for the European Commission’s proposed 19th sanctions package and aims to rally support from Western allies during his UNGA meetings.
Context
This meeting follows Russian drone and jet incursions into NATO airspace in Poland, Romania, and Estonia—incidents that underscore the risks of escalation. Zelensky is expected to use these events to justify tougher sanctions, while European leaders continue urging the U.S. to adopt a firmer stance and commit to deterrence measures.
What to Watch
Asia-Pacific
U.S./China: A bipartisan U.S. delegation met with Premier Li Qiang in Beijing, marking the first House delegation visit since 2019. Li described it as an “ice-breaking” trip to improve relations. The visit followed a recent call between Trump and Xi Jinping.
Japan: The ruling Liberal Democratic Party’s leadership contest began on 22 September, with elections set for 4 October. Agriculture Minister Shinjiro Koizumi and conservative contender Sanae Takaichi are leading candidates. Given the coalition’s limited parliamentary strength, the winner will likely need opposition support, sparking speculation of a broader coalition.
U.S./South Korea: President Lee Jae Myung has raised concerns over currency risks tied to a USD 350bn investment package agreed in exchange for U.S. tariff relief. Without safeguards like a currency swap, Lee warned of potential financial instability similar to the 1997 crisis. Despite attending UNGA, he is not expected to meet with Trump.
Philippines: Protests in Manila on 21 September drew strong middle-class participation, keeping pressure on the government to pursue corruption investigations into public works projects. While some violence occurred, it appears isolated. The credibility of an independent commission’s probe will be critical in determining whether unrest grows.
Europe
Turkey: President Erdogan will meet Trump on 25 September. Talks are expected to focus on defense and trade deals, highlighting a transactional diplomacy between the two leaders, even as deeper structural tensions remain.
Moldova: Parliamentary elections on 28 September will determine the country’s geopolitical path. Polls suggest the pro-European Party of Action and Solidarity may win the most seats but fall short of a majority. Russian interference and voter uncertainty could shape outcomes, with potential consequences for regional stability and Moldova’s EU aspirations.
Latin America
U.S./Argentina: President Milei will meet Trump on 23 September and Treasury Secretary Scott Bessent the following day. Milei seeks U.S. financial backing, including a potential credit line, to stabilize Argentina’s economy and reassure investors amid a sharp peso decline and dwindling reserves.
Brazil: Large-scale protests erupted across major cities following the conviction of former president Jair Bolsonaro. Demonstrators opposed the “Shield Amendment” and amnesty bill that could free Bolsonaro from his 27-year sentence. Both measures have gained traction in Congress, intensifying political tensions.
Africa
U.S./South Africa: President Cyril Ramaphosa is using South Africa’s G20 presidency at UNGA to promote multilateral reform and a more equitable global order. At the same time, Pretoria seeks closer U.S. trade ties, though tensions over BRICS alignment and foreign policy may strain relations further.
Closing Note
The views and opinions expressed in this article are solely those of the authors and do not necessarily reflect those of Bespoke Business Development. They are intended to encourage discussion and reflection, rather than serve as legal, financial, accounting, tax, or professional advice.
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