For decades, it has been easier for Berlin to invoke American power than to compromise with its continental neighbors. This has always been a risky bet. Trumpism will force Germany back into Europe—to its benefit.

By countering Russia’s war against Ukraine through trade and finance, the United States and Europe are increasing the leverage of the likes of India and Turkey which seize on market disruptions to advance domestic or regional priorities. Economic policy-making must adapt to a diversified set of powerbrokers.