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Photo: UPI/Bettmann/Getty Images

Photo: UPI/Bettmann/Getty Images

NATO’S Hidden Dividend and the Avoidable Cost of U.S. Withdrawal

NATO was designed to do more than provide security, it built deep economic integration that has become one of its least appreciated strengths. The economic gains are large, durable, and, in many cases, effectively self-financing relative to the costs of membership.

Commentary by Philip Luck, Karen Jackson , and Oleksandr Shepotylo — April 22, 2026

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Seth G. Jones

Seth G. Jones

President, Defense and Security Department; Harold Brown Chair
Emily Harding

Emily Harding

Vice President, Defense and Security Department; Director, Intelligence, National Security, and Technology Program
Daniel Byman

Daniel Byman

Director, Warfare, Irregular Threats, and Terrorism Program
Tom Karako

Tom Karako

Director, Missile Defense Project and Senior Fellow, Defense and Security Department
Jerry McGinn

Jerry McGinn

Director, Center for the Industrial Base and Senior Fellow, Defense and Security Department
Kari Bingen

Kari A. Bingen

Director, Aerospace Security Project and Senior Fellow, Defense and Security Department
Alek Jovovic

Alek Jovovic

Deputy Director, Center for the Industrial Base and Senior Fellow, Defense and Security Department
Clayton Swope

Clayton Swope

Deputy Director, Aerospace Security Project and Senior Fellow, Defense and Security Department
Lauryn Williams

Lauryn Williams

Deputy Director and Senior Fellow, Strategic Technologies Program
Bonny Lin

Bonny Lin

Director, China Power Project and Senior Adviser
Max Bergmann

Max Bergmann

Director, Europe, Russia, and Eurasia Program and Stuart Center
Matt Pearl

Matt Pearl

Director, Strategic Technologies Program
Benjamin Jensen

Benjamin Jensen

Director, Futures Lab and Senior Fellow, Defense and Security Department
Oge Onubogu

Oge Onubogu

Director and Senior Fellow, Africa Program

Nikita Shah

Senior Fellow, Intelligence, National Security, and Technology Program
Yasir Atalan

Yasir Atalan

Deputy Director and Data Fellow, Futures Lab, Defense and Security Department
Brian Hart

Brian Hart

Deputy Director and Fellow, China Power Project
Andy Lim

Andy Lim

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Joseph Rodgers

Joseph Rodgers

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Joel Coito

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NATO’S Hidden Dividend and the Avoidable Cost of U.S. Withdrawal

NATO was designed to do more than provide security, it built deep economic integration that has become one of its least appreciated strengths. The economic gains are large, durable, and, in many cases, effectively self-financing relative to the costs of membership.

Commentary by Philip Luck, Karen Jackson , and Oleksandr Shepotylo — April 22, 2026

Last Rounds? Status of Key Munitions at the Iran War Ceasefire

The United States has depleted its missile inventories but still has enough to continue fighting this war under any plausible scenario. The risk is with future wars—particularly against a peer competitor like China.

Report by Mark F. Cancian and Chris H. Park — April 21, 2026