Plus: The startup pulling a Jurassic Park
IN TODAY’S EDITION
1️⃣ Why Bibi’s latest US trip is different |
2️⃣ Why Ireland is googling a Dublin pub |
3️⃣ The startup pulling a Jurassic Park |
Hi Intriguer. Of all yesterday’s wild market twists and turns, it’s really hard to beat the $2.4 trillion rally that roared then faded in the space of 30 minutes.
The comical yet true tale stars a random guy on social media under the name Walter Bloomberg, tweeting a mistaken headline that Trump might ditch his tariffs. That then got fanned by others mistaking this random guy’s presumed surname (Bloomberg) with Bloomberg the business outlet. Then other outlets amplified all the hopeful tweets, like “Bloomberg reports Trump considering tariff pause!” And yep, it all moved trillions in minutes.
Did I briefly consider changing my name to Jeremy Financialtimes? You bet.
Anyway, it’s a reminder what can happen in a world on edge, as we’ll see in today’s look at Netanyahu’s second US trip in as many months.
P.S. — Don’t miss our candid chat about the future of democracy and AI with Audrey Tang, Taiwan’s ambassador-at-large for cyber affairs! It’s online, 8pm EST next Wed April 16. Register here.
US and China step up tariff threats.
Beijing has vowed to “fight to the end” if (and bear with us here) President Trump goes ahead with his extra 50% tariffs in response to China’s 34% tariffs in response to America’s 34% tariffs which follow years of escalation and decades of non-market practices by China. Meanwhile, Asian markets rebounded after Wall Street’s wild day ended less brutally than feared.
Ukraine’s troops in Russia’s Belgorod.
President Zelensky has now confirmed what Russian warbloggers first described last month: Ukrainian troops are active in Russia’s Belgorod region, reportedly to protect Ukraine’s border areas and ease pressure elsewhere along the front line. Meanwhile, Trump has said he’s not happy after Russian missiles killed dozens more civilians.
Trump reviews Nippon/US Steel bid.
Shares of Nippon Steel and US Steel have soared after the president told DC’s Committee on Foreign Investment in the US to review the Japanese firm’s proposal to buy US Steel, with markets seeing that move as a possible softening in Trump’s opposition to the deal.
TikTok extension unlawful?
A senior opposition senator is questioning whether the White House’s decision to delay TikTok’s divest-or-ban deadline for another 75 days violates the law. We explored that saga in Friday’s edition.
Algeria and Mali close airspace.
The two neighbours are blocking flights from one another in an escalating feud after Mali accused Algeria of shooting down Mali’s drone and sponsoring terrorism (claims Algeria rejects).
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Next time you're in Geneva, go beyond the scenic lake and charming Old Town—dive into the future at CERN’s Science Gateway.
TOP STORY
Why Bibi’s second DC trip was different
Trump and Iran’s Ayatollah
When Israeli leader Benjamin Netanyahu suddenly appeared on the White House schedule for yesterday (Monday), we reflected on:
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a) how much has changed since his last visit in February (when the Israel-Hamas ceasefire still held, and Trump hadn’t yet tariffed Israel 17%), yet also…
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b) how much has not changed since February, when their chat otherwise covered the same topics (Iran, Syria, Turkey, Gaza, Bibi’s arrest warrant, etc).
So let’s start first with the news that’s now emerged.
Sitting next to Netanyahu in the Oval Office, Trump remarked that direct talks with Iran will now take place at the “highest level”. The two foes have since been sprinkling the details like Salt Bae with a rump cap:
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Time: This coming Saturday
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Location: Oman (Iran revealed this separately)
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Who: Word is it’s most likely Iran’s Araghchi (foreign minister) and America’s Witkoff (Trump’s special envoy), though there’s no confirmation yet
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Agenda: Trump spelled it out like this — “it’s not a complicated formula. Iran cannot have a nuclear weapon.” ICYMI, Trump paired his outstretched hand with a fist last week, threatening bombs if Iran baulks.
But interestingly, Iran’s foreign ministry was denying these talks even exist, before eventually referring to them as merely “indirect”. And that raises questions whether a) Iran is still open to dialogue, b) maybe its foreign ministry is just out of the loop again, c) maybe it’s just the Ayatollah managing his hardliners at home, and/or d) maybe it’s a Trump pressure tactic on Iran, or even a diversion from his tariff wobbles back home.
And speaking of those tariffs…
They were the first topic Netanyahu raised — while he pledged to eliminate trade barriers and Israel’s surplus with the US, Trump in turn wouldn’t commit to dropping his tariffs before they kick in tomorrow (Wednesday).
Instead, he reminded the room how many billions the US hands Israel in security assistance annually, directing a semi-sassy “congratulations” to Netanyahu.
Which brings us back to the various pressures now facing Netanyahu himself.
First, his decision to re-enter Gaza, while popular with folks wanting Hamas out, has also enraged not only the hostage families just wanting a deal to get their loved ones out, but also those just wanting the devastation to end.
Second, his legal woes now touch not only his own dealings, but some top aides too.
And third, that’s all complicated by his political tightrope, between the hardline moves he needs to keep his coalition together, and the resulting blowback that wobbles it all over again.
So against that messy backdrop, Netanyahu will have landed in DC hoping his direct and immediate access to the US president might again bolster his stance at home and abroad. But Trump’s tariff dodge and “congrats” line above kinda left him hanging instead.
INTRIGUE’S TAKE
For such a brief meeting, this latest Trump-Bibi encounter still sent lots of signals:
First, if Netanyahu can’t get a break from a top ally like Trump (in public at least), you’ve gotta wonder if he can get a break anywhere.
Second, if Trump won’t give a tariff break to a US ally like Israel (a smaller partner with no remaining tariffs on the US), you’ve gotta wonder if he’ll give a break to anyone.
And third, if Trump is implying even a security partner like Israel owes the US, you’ve gotta assume (if you didn’t already) he feels that way about every partner.
As for the main thing Trump and Bibi agreed on? It’s probably also the most difficult. When Trump 1.0 withdrew from the Iran nuclear deal, the pact had (for all its faults) kept Iran’s uranium enrichment at a civilian-only 3.67%, and its stockpiles at a tolerable 300kg. Nowadays? The Ayatollah is sitting on 30 times more uranium, a chunk of which he’s now enriched to within a short sprint to military grade.
Also worth noting:
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The Manufacturers Association of Israel says the Trump tariffs might cost Israel $2.3B in exports a year.
MEANWHILE, ELSEWHERE…
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🇰🇵 North Korea: Athletes from China, Romania, Russia, and beyond have run in Pyongyang’s first marathon in over six years. It’s part of a series of events celebrating next week’s birthday of the hermit state’s founder, Kim Il Sung.
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🇷🇸 Serbia: Strongman leader Aleksandar Vucic has presented an endocrinologist with no political experience as his new nominee for prime minister. His last PM quit after a deadly collapse at a train station triggered months of protests.
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🇳🇿 New Zealand: Prime Minister Luxon has announced he’ll nearly double New Zealand’s defence budget to 2% of GDP over the years ahead. He noted, “New Zealand and our allies and partners across the world are no longer in a benign environment”.
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🇭🇹 Haiti: The nation’s transitional government has begun enlisting members of a paramilitary group that once took part in an attempted coup. It comes as Haiti’s Kenya-led policing mission struggles to regain control from violent gangs.
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🇳🇬 Nigeria: An armed attack in Nigeria’s central Plateau State has left at least 52 dead and thousands displaced. Details are still emerging from the area, where violence is variously described as herder vs farmer, Muslim vs Christian, and/or Fulani vs Berom.
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EXTRA INTRIGUE
Here’s what people around the world are googling
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Folks in 🇮🇪 Ireland looked up ‘Temple Bar Dublin drinks bill’ after a pubgoer copped an eye-watering check at one of Dublin’s most famous pubs.
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🇦🇷 Argentinians searched for ‘paro general 10 de abril’ (general strike 10 April), as protests continue against spending cuts and unemployment.
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And netizens in 🇳🇴 Norway googled ‘oljefondet’ (their vast sovereign wealth fund) after Oslo’s famous finance minister (Stoltenberg) pledged to uphold the fund’s strategy despite a dismal start to the week.
BREAKTHROUGH OF THE DAY
Credits: Colossal Biosciences.
If you’ve ever wanted to pet one of the Stark children’s dire wolves while watching Game of Thrones, you’ll be thrilled to know you’re closer than ever to living that dream.
A firm called Colossal Biosciences, which focuses on a process dubbed ‘de-extinction’, claims it’s implanted dire wolf genes into regular wolf DNA to breed three healthy dire pups (aptly named Romulus, Remus, and Khaleesi).
Have these people not seen Jurassic Park, Jurassic Park (The Lost World), Jurassic Park III, Jurassic World, Jurassic World (Fallen Kingdom), Jurassic World Dominion, or Jurassic World Rebirth?!
DAILY POLL
How long do you think these next US-Iran talks will last? |
Yesterday’s poll: Do you think Trump will back down from his tariffs?
🟨⬜️⬜️⬜️⬜️⬜️ 😦 Yep, the markets have spoken (20%)
🟩🟩🟩🟩🟩🟩 ✊ Nope, it's still early (77%)
⬜️⬜️⬜️⬜️⬜️⬜️ ✍️ Other (write in!) (3%)
Your two cents:
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✍️ J.MD: “Once he gets whatever it is he really wants out of this he'll declare victory and regroup.”
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✊ T.B: “The new era is in its earliest stage. The US has foreseen a threat so startling it is warning that the drawbridge could go up. The villages surrounding the castle are realising they could be left alone and afraid.”
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✍️ A: “Who knows, that's the problem.”
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