Most US treasury secretaries deliver sanctions policy with the emotional cadence of a microwave instruction manual. Not ol' Scotty Bessent, who took to the pages of Sunday's Financial Times to declare a full-blown " economic D-day " against Iran.
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CANADA
President Trump says he’ll double his tariffs on Canada’s auto sector to 50% from 1 January, as the two neighbours trade blame for their last-minute collapse in trade talks. Meanwhile, Canada’s Carney is flagging he’ll return to the negotiating table if the US comes with “the right attitude”. (Reuters)
SOUTH SUDAN
Unidentified gunmen have ambushed and killed two UN peacekeepers from Ethiopia while they were on patrol in South Sudan’s restive east. (UN News)
PAKISTAN
Pakistan is signalling a return to commercial capital markets (Eurobonds, sukuk, and even rupee-linked dollar bonds) in hopes of gradually restoring international investor confidence. (FT $)
RUSSIA
The Wall Street Journal is reporting — per Western intel — that Putin has been running nationwide exercises to test his ability to absorb a fresh wave of mobilised troops for his ongoing invasion of Ukraine. Moscow denies the claims. (WSJ $)
SYRIA
The US has officially removed Syria from State’s terrorism sponsor list after more than four decades, lifting a major legal wall that’s long barred foreign investment and banking transactions with the country. (Le Monde)
INDIA
India’s Tata Consultancy Services (TCS) just inked a $1.5B deal to revamp Porsche’s IT and digital architecture, while buying the German automaker’s 4,500-employee IT consulting arm for $373M. (Bloomberg $)
EUROPEAN UNION
Italy’s famed European central banker Mario Draghi and Ireland’s billionaire young Stripe co-founder Patrick Collison have launched the Rhine Group, aimed at turning Draghi’s 2024 competitiveness report into concrete reforms towards European revival. (EuroNews 🇮🇹)
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