On today’s program, sponsored by HII, Byron Callan of the independent Washington research firm Capital Alpha Partners joins Defense & Aerospace Report Editor Vago Muradian to discuss the economic and geopolitical implications President-elect Trump’s comments on tariffs as well as the Panama Canal, Greenland and Canada; whether the comments will fuel higher inflation that will have to be factored into defense planning; Pentagon budget outlook as the outgoing Biden administration is reported to expected to ask for $1 trillion in 2026; cost of massive California wildfires and other climate-related disasters on federal spending; confirmation outlook for Trump’s nominees including Pete Hegseth as defense secretary as Senate hearings begin; takeaways from Israel’s Nagel Report that identifies Turkey as a threat and urges Jerusalem to reduce reliance on US as a security partner after a second Trump administration; BWXT’s acquisition of Kinectrics; what to expect at the Surface Navy Association’s conference and tradeshow; and a look at the week ahead.