The Tradelands Politics section in the wikia, more or less, explains the results of the internal Role-play that affects Tradelands in-game.
To directly answer your question (from what little information I know), Nova Balreska(NB) and Hallengard(HG) have a certain...difficulty with each other. Not to mention that NB's current government is now Anarchy, which would explain that their sailors can now conduct piracy (or Privateering, or how most NB's explain what they do).
Though I haven't noticed (or gave a damn with WhiteCrest(WC) politics), I think they haven't fixed relations with NB yet(?). For their relation with HG, it says something about breaking cove rules and then having the case dismissed. Again, I don't know anything about their political relations with the other factions as of now.
TL;DR
NB can now do what the hell they want. HG is still fixing its political relations. WC continues to be the "mature person" in all this and upholds the order.
As for pirates? Well, we're still doing what we do best. Watching the whole thing unfold and sipping rum on the sidelines. (or in my case, munching on hardtack :D nahraddbakeryplease)
Hope this answers your questions somewhat, mate
Thanks
Pirates4Life
:P