What are the biggest challenges facing U.S. foreign policy? While much of the current foreign policy debate in Washington and around the world is focused on the Trump administration, policymakers must also look further ahead in order to address potential conflicts and issues that will shape the world in the first half of the 21st century. From the Middle East to Russia to the rise of China, world affairs and the U.S. role in it is constantly changing. Indeed, the world has changed a great deal since the Cato Institute was founded 40 years ago. This discussion presents an opportunity to explore the next 40 years and how Cato scholars plan to approach these issues. Emma Ashford, research fellow in the defense and foreign policy studies department, and John Glaser, associate director of foreign policy studies, will join the 40th Anniversary Sponsor e‐Briefing Series to offer their thoughts on the biggest challenges and opportunities facing U.S. foreign policy and address your questions. They look forward to your participation, which will guide this thought‐provoking discussion. The 40th Anniversary e‐Briefing Series offers Cato Sponsors a special opportunity to engage with Cato’s leadership and scholars as the Institute commemorates this milestone while also examining the future of liberty and achieving our mission of creating a free society. Forty years ago, the Cato Institute opened its doors as a new public policy research organization dedicated to liberty. Today, through our independent, nonpartisan research, worldwide events, vast online resources, and media outreach, Cato engages millions on the timeless principles of individual liberty, limited government, free markets, and peace. Cato’s success is a testament to our Sponsors’ commitment to the Institute and our work. Thank you for your continued support.