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The recent G20 meeting in Milwaukee, where China urged members to protect multilateralism and address issues such as forced labor and overcapacity, underscores the political risk that can reshape global trade flows. For quantitative traders, understanding how such macro‑political events feed into asset pricing frameworks is essential for building robust portfolios and trading signals. Political Signals as Macro Factors Quant models increasingly embed macro‑economic and geopolitical variables as risk factors. The G20 agenda highlights three themes that can be turned into quantitative inputs: (1) food‑security concerns, (2) industrial overcapacity, and (3) the enforcement of the most‑favored‑nation (MFN) principle....