Existing analyses of the potential for geopolitics to further fragment the world economy do not consider the impact of policy intervention on how firms create value from their international operations or on corporate performance. Nor are the numerous ways internationally-active firms can respond to geopolitics considered. The purpose of this White Paper is to fill in this knowledge gap, drawing upon 13 expert interviews with senior executives from international businesses deliberately selected to cover a range of manufacturing and service sectors. By laying out how international business perceives evolving geopolitical dynamics and their reactions to it, the overall goal of this study is to provide officials with a deeper understanding of associated commercial choices so as to allow them to better advise governments on how to manage cross-border commercial ties going forward.