Marc Ross Daily | March 12
Marc Ross Daily is geopolitical business news + intelligence for senior executives + comms pros.
Geopolitics is disrupting every business and industry. I am here to help.
Always Be Communicating.
Happy Wednesday.
Here’s today’s Marc Ross Daily:
*** Ross Rant ***
Imagine happy hour revitalized with the spirit of innovation—this is what Brigadoon will offer at our upcoming aperitivo in Washington, DC.
On March 27, 2025, join renowned fashion designer Sid Mashburn and a dynamic group of entrepreneurs and thought leaders at Sid Mashburn - Georgetown for an evening of conversation and connection.
To register, drop me a message or sign up here.
*** Globalization + Geopolitics ***
Trump’s tariffs are no ‘emergency’: The President invokes a law that doesn’t give him power to impose sweeping tariffs. Someone should sue. WSJ - Editorial
Toronto Star: TRADE WAR WHIPLASH
CNN: Trump threatens new tariffs on Canada and warns he will shut down its auto industry
Reuters: Trump says he will double tariffs on Canada metals to 50%
Axios: Trump imposes new Canada tariffs, renews "51st state" demands
+ Last month, 72% of all US unwrought aluminum imports came from Canada
+ @MrMBrown: So that's now 5 times in 7 days US trade policy towards Canada has changed...
+ @EricBoehm87
March 3: "Tariffs on Canada!"
March 5: "Okay, no tariffs on cars but tariffs on everything else."
March 6: "Actually, no tariffs until April 2."
March 11: "Tariffs on Canada!"
+ The White House said that 25% tariffs on steel and aluminium from Canada and all other trading partners would go into effect on Wednesday.
Toronto Star: Flight deals, a case of 1,400 cans of beer and lap dances: Canadian companies offer deals linked to US tariff talk
CNN: Ontario premier threatens to ‘shut off electricity completely’ for US if trade war escalates
+ BREAKING: Ontario is suspending its 25% tariff on exports of electricity to Michigan, New York, and Minnesota, Premier Ford says. This comes after US Commerce Secretary Lutnick agreed to meet with Premier Ford on Thursday.
National Post: Canadians travelling to the US may be affected by new registration requirements
+ Here's what we know about the travel policy that came into effect March 9
+ Canadians planning to travel to the United States may be affected by a new policy that would have them register if they are south of the border for more than 30 days and submit to fingerprinting.
Not just tariffs: Trump’s wildest threats against Canada NY Mag
Doubled tariff on Canadian metals is abruptly called off: NYT reports President Trump had threatened to hit Canadian metals with 50 percent tariffs but opted not to go ahead after tensions de-escalated.
Ukraine peace plan: The US will immediately restore intelligence-sharing and security assistance to Ukraine, with Kyiv ready to accept a 30-day ceasefire with Russia.
European countries face growing pressure to seize frozen Russian assets: Le Monde reports political leaders are increasingly saying they want to use the €210 billion in frozen assets of the Central Bank of the Russian Federation to finance military aid to Ukraine.
Germany’s military is struggling as Trump tests NATO, report shows: Politco reports Germany’s Bundeswehr remains atrophying and ill-equipped despite political leaders’ repeated vows to reverse the force’s decline.
In France, one billionaire's media empire sides with Russia: Le Monde reports that since Donald Trump has made overtures to Moscow and JD Vance has proclaimed that free speech is threatened in Europe, the far-right broadcasters and newspapers owned by Vincent Bolloré are backing Vladimir Putin.
Ireland’s leader seeks to survive a brush with Trump: Politico reports that White House events for St. Patrick’s Day are normally a diplomatic dream for Dublin. This year is completely different — and dangerous for Ireland’s America-fueled economy.
Discord erupts in Nigel Farage’s Reform UK: But will that halt its rise in the polls? Economist
Portugal’s government collapses after losing parliament vote: Bloomberg reports the vote will likely lead the country to its third early election in just over three years.
China’s AI boom is reaching astonishing proportions: What might derail it? Economist
Why the US keeps losing to China in the battle over critical minerals: The West got its hands on one of the world’s best graphite mines—then things started going off the. WSJ
Kyodo: Britain sees "exceptional potential" in defense ties with Japan
Politico: JD Vance to visit India for second foreign trip as VP
There’s never been a better time to be anti-American: The nation’s staunchest defenders are being betrayed. Adrian Wooldridge
*** US Politics + Elections ***
Trump's economy shows concerning early signs: According to MarketWatch, this is the worst start to a presidential term since 2009, when the country was in the subprime mortgage crisis. Trump did not inherit an economy mired in crisis, of course; he inherited what was, at the time, the strongest economy in the world. That booming economy is no more: Goldman is now predicting higher inflation and slower growth than it had previously forecast, while its forecast for Europe is now stronger than it had been.
How the US economy went from booming to a recession scare in only 20 days CNN
The Times: Tariff chaos is necessary to ‘rebuild our country’, Trump says
Trump bets the economy on tariffs: He promised lower prices, but his trade policies will have the opposite effect. William A. Galston
Will there be a Trump recession? Economic signs are mixed, but his willy-nilly tariffs have markets worried. WSJ - Editorial
Trump’s erratic economic policies: The president has rattled the markets and prompted warnings of a possible recession. The Atlantic - Editorial
Trump’s metals tariffs will cost American industry dearly: Not least because the president keeps threatening to ratchet up duties. Economist
FT: Wall Street loses hope in a ‘Trump put’ for markets
Bloomberg: From baseball bats to caskets, New Trump tariffs set to hit home
+ The proposed tariffs are coming directly for more than $150 billion in imported consumer products as well as the raw steel and aluminum they hit last time.
CNBC: Airline CEOs warn domestic travel demand is slowing
FT: United and American warn on drop in demand for US air travel
Kohl’s shares dive after weak sales outlook: WSJ reports the department-store chain joins a growing list of companies warning of a slowdown in household spending.
Reuters: Persil-owner Henkel says US policies are hurting North American market
MW: Small-business people were jubilant over Trump’s victory in November. They’ve since grown very uncertain about the US economy.
+ Small businesses are aggressively raising prices, according to survey
+ The National Federation of Independent Business reported that its small-business optimism index fell 2.1 points in February to a reading of 100.7.
+ The NFIB’s uncertainty index rose 4 points to 104, the second-highest reading ever, which in its current monthly form dates back to 1986.
WP: House passes bill to avert government shutdown, sending it to Senate
House GOP passes bill to avert a shutdown, daring the Senate to accept it: NYT reports Republicans need the cooperation of several Democrats in the Senate to move the bill past a filibuster and to passage before a midnight deadline on Friday.
Education Department plans to fire up to half its staff: NYT reports an announcement could come as soon as Tuesday, according to people familiar with the situation, and could portend a move to essentially dismantle the department.
What Elon Musk’s suit says about Trump and power: When Elon Musk puts on a nice suit, it has a way of looking like a demotion. NYT
DOGE is the deep state: A shadowy group of unelected figures reshaping the federal government to their own benefit from the inside? Sounds familiar! Wired
Turmoil within DOGE spills into public view as Musk’s group confronts a PR crisis: WP reports Elon Musk’s DOGE is hunting for “wins” as it races to finish slashing the federal bureaucracy and move on to the more constructive work of building digital tools for the government.
Cybertruck owners are joining a Facebook support group—and want to be a protected class: FC reports cybertruck owners say they have been targets of anti-Elon Musk backlash. One even demanded harassment of Teslas be labeled a hate crime.
The best- or worst-timed book in history: “The Technological Republic” calls for techies to work with Washington. But that is already under way. Economist
The crypto summit was just a Trump-thanking contest Matt Stieb
NIST cuts would put US behind AI eightball, tech groups warn Commerce secretary: FedScoop reports in a letter to Howard Lutnick, leading tech associations say downsizing NIST “will have ramifications” for the country’s ability to lead on AI.
+ Trump’s AI executive order paved the way for NIST-developed technical standards and the agency’s AI Risk Management Framework, the tech groups noted. Those initiatives plus Commerce’s “light-touch, non-regulatory approach” has led to continued U.S. innovation and global competitiveness, per the letter, which was signed by the Software & Information Industry Association, Americans for Responsible Innovation, the Center for AI Policy, the Computer & Communication Industry Association, Engine, the Internet Infrastructure Coalition, TechNet, and the Information Technology and Innovation Foundation’s Center for Data Innovation.
Democracy dies in dumbness Bret Stephens
Can anything stop bird flu? A virus run rampant, health systems hollowed, public trust destroyed … This is the way the next pandemic might work. NY Mag
NH-SEN: Former New Hampshire Gov. Chris Sununu (R) is reconsidering a run for US Senate.
NBC News: Former Rep. Katie Porter launches run for California governor
MI-GOV: Lieutenant Governor Garlin Gilchrist (MI-D) announces Democratic bid to become Michigan's first Black governor.
*** Distribution + Innovation ***
The rise and fall of the ‘Napa Valley of cannabis’: Pueblo, CO, had high hopes for a legal-marijuana boom; financial troubles now plague the industry. WSJ
Volkswagen pins growth hopes on US despite tariffs: FT reports carmaker wants bigger American market share to offset declines in China and Europe.
Richard Branson wants space flights to blast off from UK: The Times reports the Virgin Galactic boss says he wants a British spaceport to launch tourist flights, with Cornwall being an obvious candidate.
Eric Schmidt joins Relativity Space, a rocket start-up, as CEO: NYT reports the former Google chief executive is taking a controlling interest in Relativity Space, which aims to build low-cost, reusable rockets to compete against Elon Musk’s SpaceX and to reach Mars.
What the dot-com bust can tell us about today’s AI boom: This week marks the 25th anniversary of the NASDAQ peak, but all wasn’t lost in the ensuing downturn. WSJ
Reuters: Meta begins testing its first in-house AI training chip
Reuters: China's Manus AI partners with Alibaba's Qwen team in expansion bid
Reuters: Celestial AI raises $250 million as it looks to speed up links between AI chips
CNBC: OpenAI to pay CoreWeave $11.9 billion over five years for AI data centers, services
AI robotics startup Dexterity lands $1.65 billion valuation: Bloomberg reports the startup is one of a growing number of companies that want to remake warehouses using AI.
How Gen AI could change the value of expertise HBR
CNN: Celine Dion warns fans to beware of fake, AI-generated songs appearing online
Sony is experimenting with AI-powered PlayStation characters: The Verge Sony’s advanced technology group has created an AI-powered version of Aloy from PlayStation’s Horizon games.
*** Culture ***
What Prince Harry’s settlement means for him and for Britain’s Royal Family: Harry won an apology and damages from Rupert Murdoch’s UK tabloids. Could the lawsuit’s end also help heal the rift with his brother, William, and his father, King Charles III? NYT
How Angostura has maintained the best kept secret in cocktails for 200 years: Only 5 anonymous employees know the secret recipe for this legendary cocktail bitters. Food + Wine
*** Sport ***
The WNBA should be careful about adding too many teams too fast: There’s no reason to give investors a discount before the league’s media deal is potentially reevaluated. Bloomberg
Manchester United is tackling the wrong problem: A decade of accumulated sporting failure is now hitting the club’s bottom line. John Burn-Murdoch
Man Utd admit spending £2bn on stadium rather than team is a risk: The Times reports Sir Jim Ratcliffe reveals plan for new 100,000-seater ‘Eiffel Tower of the north’ but club know it will be a challenge to stay competitive during five-year construction of tent-like arena.
+ @FOS: Dave Portnoy says he was contacted about a position in the Department of Commerce in President Donald Trump's administration. @stoolpresidente said it would have required him to give up running Barstool Sports.
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Marc Ross Daily | March 11
Marc Ross Daily | March 11
Marc Ross Daily is geopolitical business news + intelligence for senior executives + comms pros.
Geopolitics is disrupting every business and industry. I am here to help.
Always Be Communicating.
Happy Tuesday.
Here’s today’s Marc Ross Daily:
*** Globalization + Geopolitics ***
BBC: Canada's next PM Mark Carney vows to win trade war with Trump
Mark Carney to Donald Trump: ‘Canada never, ever will be part of America’: Politico reports Canada’s next prime minister uses leadership victory speech to warn Canadians that the US president wants to “destroy our way of life.”
+ "Americans should make no mistake. In trade, as in hockey, Canada will win."
Mark Carney’s in-tray: from tariffs to Canadian sovereignty: Canada’s new prime minister is taking over at a ‘nation-defining time’ and must tackle issues ranging from Trump and trade to defence and energy. The Times
Mark Carney takes on Trump’s America: New prime minister must still convince Canadians he can deal with the US president. FT - Editorial
Mark Carney must keep an expansionist America at bay: Canada’s new prime minister has momentum. Will that be enough to win him a general election? Economist
Doug Ford makes good on threat to slap 25 percent export tax on electricity to the US: TS reports the “tariff response charge” will be paid by utilities in New York, Michigan, and Minnesota importing power from Ontario generators of electricity.
AP: Ontario slaps 25% tax increase on electricity exports to US in response to Trump’s trade war
Doug Ford is channelling Canadians’ outrage about Donald Trump’s tariffs — and it’s not just Americans who are noticing: How the Ontario premier emerged as Canada's de facto communicator-in-chief during the trade war with the US. TS
Bloomberg: Canadian travel to US plummets amid tariff, statehood threats
A trade war could hit these communities hardest: Chinese and Canadian retaliatory tariffs are aimed at agricultural, manufacturing, and energy sectors that employ millions of Americans. WP
China’s tariffs on US agricultural products take effect: NYT reports the action came in response to the higher levies on Chinese imports that President Trump announced last week.
China rolls out US farm tariffs as Xi digs in for wider trade war: Fresh salvo against Canada seen as warning against aligning with Trump policy. Nikkei
+ Japan’s trade minister doubled down on a request for Japan to be excluded from President Donald Trump’s tariff campaign in his first in-person discussions with his US counterparts.
Trump's tariff threats paralyze European companies: With threats of 25% tariffs on the European Union, geopolitical upheavals and the 'law of the strongest' in business, companies are reeling from the Trump shock. In response, they are freezing their projects, trying to negotiate exemptions, and preparing to raise their prices. Le Monde
Ukraine is expected to propose an aerial and naval ceasefire with Russia during talks with the US.
Zelensky’s high-wire act: Satisfying Ukrainians and Trump: WSJ reports President Trump wants a quick peace deal, but Ukrainians resist capitulation to Russia’s demands.
Trump may resume Ukraine aid if pivotal meeting goes well, Rubio says: The Times reports Secretary of State Marco Rubio will meet with Ukrainian officials for the first time since the Oval Office blow-up between Donald Trump and Volodymyr Zelensky.
Trump may resume Ukraine aid if pivotal meeting goes well, Rubio says: WP reports Secretary of State Marco Rubio will meet with Ukrainian officials for the first time since the Oval Office blow-up between Donald Trump and Volodymyr Zelensky.
Rare earths reality check: Ukraine doesn't have minable deposits: Experts say proposed deal with US makes no sense. IEEE
Trump’s dealmaking is all about him: From effectively ending the war in Ukraine to setting tariffs, the president’s negotiating skills are coming up short. Timothy L. O'Brien
US dominates arms trade but Trump’s moves risk rattling buyers: America has benefited from rising European spending, though the president’s Ukraine policy is raising concerns about future purchases. WSJ
Trump is making Europe great again: The US president has provided the biggest stimulus towards European integration since the end of the Cold War. Gideon Rachman
Trump and the future of European security: Le Monde's Sylvie Kauffmann answers readers' questions: What does the future of European defense look like, now that the United States is retreating from the continent? Sylvie Kauffmann, foreign affairs columnist at Le Monde and specialist in international relations, answers reader questions on social media. Le Monde
France, seen as the spearhead of European defense, worries Russia: Macron and Putin on Friday engaged in a long-distance sparring match about Napoleon and imperialism. Le Monde
Inside Russia’s shadow war in the Baltics FT
Trump’s blunt pitch for Greenland casts shadow over its elections: The Times reports as voters head to the polls on Tuesday, the main parties are slowing efforts to break away from Denmark.
Greenland holds election in shadow of Trump: Le Monde reports the inhabitants of the autonomous Danish territory are going to the polls on Tuesday to elect their parliament. Among the issues that dominated the election campaign were independence and relations with Denmark.
British army must spend billions to prepare for war, ministers told: Drones, shells, and armoured vehicles must be bought off the shelf now to ward off increasing threats, the government has been warned. The Times
40%: The percentage by which Britain’s government is slashing the aid budget to boost defence spending.
Putin boots out more British diplomats in spying row: Politico reports Russia’s FSB accuses pair of “intelligence and subversive work” – as Britain brands the claims “baseless.”
WSJ: Pope’s condition is improving, Vatican says
Pope is no longer in immediate danger from illnesses, Vatican says: NYT reports though his condition has improved, Pope Francis will remain in the hospital for further treatment, the Vatican said in a statement.
Reuters: Israel urging UN agencies, aid groups to replace UNRWA in Gaza, envoy says
South Korea's martial law: How the president's plan came together and fell apart NYT
US, China discuss a Trump-Xi summit for June: WSJ reports talks about a “birthday summit,” which are in the early stages, come as the Trump administration is ramping up tariffs against China.
In new book, Dalai Lama tells followers to reject any successor chosen by China: WSJ reports the Tibetan Buddhist leader said the choice of a successor should be made according to traditional practices and that lamas, in which monks would conduct the search, setting up a clash with Beijing’s communist rulers.
Indonesia, Vietnam upgrade ties in face of US tariff risks: Nikkei reports Southeast Asian countries agree to comprehensive strategic partnership.
Argentine President Javier Milei signed an emergency executive decree on Monday to mandate a new deal with the International Monetary Fund, news outlets La Nacion and Clarin reported, signaling that a staff-level agreement is closer than ever.
*** US Politics + Elections ***
WSJ: Recession fears cause US stocks to lose their luster
FT: Wall Street stocks tumble as investors fret over US economic slowdown
Bloomberg: Markets rocked by Trump show economic fear across Wall Street
+ Billionaires at Trump’s swearing-in have since lost $209 billion
+ NASDAQ 100 sheds $1.1 trillion in value as tech meltdown spreads
+ Tesla tumbles most since 2020 on pullback in sales estimates
White House downplays economic ‘blips’ as stock market tumbles: WP reports top administration economist Kevin Hassett said he expects tax cuts to propel economic growth later this year.
Trump promised Americans booming wealth. Now he’s changing his tune. NYT reports President Trump’s sweeping promises are running headlong into the reality of governing.
Bloomberg: Stocks tumble most this year with recession warnings blaring
CNN: Dow falls by almost 900 points in market rout after Trump says he won’t rule out a recession
+ The selloff in US equities accelerated Monday with the S&P 500 dropping another 2.7% and the Nasdaq 100 losing 3.8%, it’s worst day since 2022.
Trump’s business acumen has long been his armor. It’s being put to the test. Politico reports the normally bullish Trump over the weekend declined to rule out the possibility of a full-blown recession as his tariff policies threaten to spark a massive global trade war.
Government shutdown? The House and Senate both need to pass a funding bill by midnight Friday or else the federal government shuts down.
In Trump’s crowded White House, JD Vance finds a role behind the scenes: WP reports the vice president has balanced his love for public-facing mudslinging with a quieter portfolio as conciliator and backroom dealmaker.
FT: Musk claims cyber attack on social network X came from ‘Ukraine area’
Move fast and destroy democracy: Silicon Valley’s titans have decided that ruling the digital world is not enough. Kara Swisher
Trump touted sweeping tariff, DOGE plans — then adjusted as backlash grew: Adjustments on DOGE and tariffs suggest the president isn’t immune to political pressure, despite the scale of his proposals. WP
America is turning on Trump: From Elon Musk's DOGE chaos to cutting Medicaid, voters across the political spectrum are unhappy. Ross Barkan
CNN: Deleted tweets show top State Department official spread false rumor about Rubio’s sexuality, called him ‘low IQ’
Today: The House Financial Services Committee will hold a hearing on stablecoins and the “consequences of a US central bank digital currency.”
Trump’s call to scrap ‘horrible’ chip program spreads panic: The president’s attack on the key tenet of the Biden administration’s industrial policy has set off concerns that he may claw back its funding. NYT
Science and tech agency cuts spark industry pushback: Axios reports the tech industry is throwing its weight behind science and tech work in government in response to the rollercoaster of federal employee firings and rehirings and the specter of more job and budget cuts.
+ Tech industry and advocacy groups sent a letter to Commerce Secretary Howard Lutnick on Monday warning that agency cuts could hobble America's global leadership in AI. Read the letter here.
Trump, with more honey than vinegar, cements an iron grip on Republicans: NYT reports in his second term, President Trump is cultivating warm relationships with GOP lawmakers — and using the implicit threat of ruining them if they stray — to keep them in line behind his agenda.
FL-GOV: A new Fabrizio Lee & Associates poll in Florida finds Rep. Byron Donalds (R) crushing Casey DeSantis (R) in a possible GOP gubernatorial primary matchup, 45% to 23%.
Utah to become first state to ban fluoride in public water: WSJ reports most public-health experts say the mineral additive is crucial protector against tooth decay.
Donald Trump Jr. has big plans for monetizing MAGA: At 1789 Capital, the president’s eldest son is chasing profit in the ‘parallel’ economy of Trump’s America. Bloomberg
*** Distribution + Innovation ***
AI can steal your voice, and there's not much you can do about it: Voice cloning programs — most of which are free- have flimsy barriers to prevent nonconsensual impersonations, a new report finds. NBC News
OpenAI strikes $12bn deal with CoreWeave: FT reports contract is a boost to the cloud computing provider ahead of its $35bn initial public offering.
Investors want a piece of DeepSeek. Its founder says not now. WSJ reports the chatbot startup has problems, but its founder doesn’t want new shareholders to be one of them.
Reuters: Foxconn unveils first large language model
TC: Manus probably isn’t China’s second ‘DeepSeek moment’
Ex-DeepMind researchers’ new startup aims for superintelligence: Reflection AI is building coding agents that can function autonomously. Bloomberg
The quest for AI ‘scientific superintelligence’: An ambitious start-up embodies new optimism that artificial intelligence can turbocharge scientific discovery. NYT
How the AI talent race is reshaping tech job market: Nearly 1 in 4 US new tech jobs posted this year seek employees with artificial-intelligence skills, a sign the technology is permeating nearly every corner of the economy. WSJ
Bloomberg: Apple readies dramatic software overhaul for iPhone, iPad, and Mac
Rocket-Redfin deal ignites race for one-stop shop for home buyers: WSJ reports mortgage giant Rocket has agreed to buy Redfin in an all-stock deal valuing the online real-estate brokerage at $1.75 billion.
Bloomberg: Delta slashes its profit forecast on weakening travel demand
*** Culture ***
The gorgeous, unglamorous work of freedom: Notes from an “actualist” on what liberation requires. Bono
‘Lorne’ is one of the great showbiz biographies of our time. Its author tells us why the ‘SNL’ visionary almost didn’t take the job: Susan Morrison talks about her 10-year journey to write the definitive story of Lorne Michaels. TS
*** Sport ***
Stephen Curry joins alma mater Davidson as assistant GM for basketball: AP reports the four-time NBA champion and two-time league MVP will be the first active player in US major professional sports to take an administrative job with a college team. He will continue to play with the Warriors while serving in this newly created role.
+ Curry will draw resources and support from the Under Armour global sports marketing team, one of his major sponsors.
Reuters: Liverpool sign multi-year deal with Adidas to replace Nike
Jessica Berman is taking the NWSL to new heights Talia Barrington
Trump: Canada, Mexico trade war makes 2026 World Cup 'exciting': AFP reports speaking to reporters in the Oval Office alongside Gianni Infantino, the head of world football's governing body FIFA, Trump brushed off suggestions that his administration's ongoing spat with the USA's 2026 World Cup co-hosts could impact the tournament.
+ "Oh, I think it's going to make it more exciting," Trump replied when asked how the tensions between the United States, Canada, and Mexico might affect the event.
Still on top: India wins 2025 ICC Champions Trophy: The Score reports India won the 2025 ICC Champions Trophy on Sunday, defeating New Zealand by four wickets in the tournament final played in Dubai.
+ India successfully chased New Zealand's 251/7 and finished 254/6, with six balls left to play.
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Marc Ross Daily | March 10
Marc Ross Daily | March 10
Marc Ross Daily is geopolitical business news + intelligence for senior executives + comms pros.
Geopolitics is disrupting every business and industry. I am here to help.
Always Be Communicating.
Happy Monday.
Here’s today’s Marc Ross Daily:
*** Globalization + Geopolitics ***
Mark Carney wins race to replace Justin Trudeau: TS reports the Liberal party has elected Mark Carney as their new leader.
Mark Carney wins leadership of Canada’s Liberal Party revived by Trump: WSJ reports Carney will officially become Canada’s new leader in the coming days and take over his country’s response to President Trump’s trade war.
Canada’s Liberals pick ex-central banker Mark Carney to replace Trudeau: WP reports Carney cast himself during the campaign as an even-keeled political outsider with the economic bona fides to take on Donald Trump and manage a trade war.
+ Former Bank of Canada governor set to become country’s 24th prime minister
We are Canadian Jeff Douglas (Video)
Doug Ford, the defiant Canadian politician taking on Trump: As the US-Canada tariff war continues, the Ontario premier faces the defining challenge of his career. FT
TS: Mike Myers puts his ‘elbows up’ again in return to SNL episode featuring Trump tariffs on ‘sworn enemy Canada’
Canada is not the enemy Rich Lowry
What’s behind Trump’s love-hate relationship with Canada: Canada is one of the United States’ largest trading partners, but President Trump wants to either take it or leave it. NYT
How the Ukraine war increased US dominance of the global arms trade: WP reports US arms exports reached 43 percent of the worldwide total as Ukrainian imports skyrocketed following the Russian invasion, according to research by SIPRI.
Two-thirds of arms imports to NATO countries in Europe come from US: FT reports the continent’s deep reliance on American-made weapons underscored by SIPRI data.
The America-sized hole in Ukraine’s war effort: Defenders can hold out against Russians for now, but impact of US weapons and intelligence halt will ‘cascade and compound’ over time. WSJ
America and Ukraine prepare for brutal negotiations: To get a deal in Jeddah Ukraine must first make peace with Donald Trump. Economist
+ Donald Trump said Ukraine “may not survive” as the White House put pressure on Volodymyr Zelensky to give up territory seized by Russia.
Ukraine seeks to persuade US to resume aid in high-stakes talks: FT reports Zelenskyy in bid to persuade Trump he wants an end to war with Russia after freeze on military and intelligence aid.
Russia pushes Ukrainian forces back in Kursk after US halts support: WSJ reports Ukraine had hoped its toehold in the Russian territory would give it leverage in any peace talks.
After Ukraine, could Trump stop sharing intelligence with Britain too? All it takes is one directive for the Five Eyes alliance of anglophone countries to fall apart after 70 years. The spooks are spooked, but how likely is it? The Times
Britain takes key role to help Ukraine in peace talks: The Times reports the UK hopes President Trump can be persuaded to continue sharing intelligence with Ukraine before talks in Saudi Arabia.
It’s our moral duty to seize Russian assets to help Ukraine: Kyiv needs more resources and extra pressure must be put on the Kremlin. The legal and practical objections to putting frozen assets to good use can be overcome. Rishi Sunak
Who’ll take on JD Vance? Guess it has to be me: The bullies in the White House could do with a history lesson: Power will warp your logic. Jeremy Clarkson
Vance and Trump are Putin’s ‘useful idiots’, says US vice-president’s cousin: Nate Vance reportedly spent three years fighting to defend Ukraine from Russia’s invasion. Telegraph
Rupert Lowe, Reform and the civil war he says will tear it down: The Times reports the MP who lost the party whip over bullying allegations was starting to become a threat to Nigel Farage, insiders claim.
Make Liz Truss great again: Ex-PM seeks redemption from Republicans: Now a political pariah in Britain, the leader outlasted by a lettuce is setting her sights on Trump’s America. The Times
France’s ex-intelligence chief convicted in influence peddling trial involving LVMH: NYT reports Bernard Squarcini was found guilty of organizing a bizarre illegal surveillance operation on a gadfly journalist at the request of the luxury company, among other offenses.
Pope Francis set to miss Easter, the Church’s most ‘crucial moment’: The Times reports he is the main attraction for many pilgrims but his frailty will cast a shadow over events in the Vatican’s jubilee year.
What went wrong at Saudi Arabia’s futuristic metropolis in the desert: Neom executives shielded the crown prince from the challenges of his fantastical plans, including by engaging in ‘deliberate manipulation’ of financials, an internal report found. WSJ
India + the European Union hold the next round of talks on a trade agreement in Brussels from Monday to Friday as the two sides aim to conclude an ambitious deal by the end of this year.
Trump is carving up Ukraine with Putin. Taiwan is terrified it could be next: The island could be left at China’s mercy as America’s mercurial president upends the old world order. Telegraph
Chinese students flock to Japanese art colleges for permanent residency: Education becomes pathway to long-term settlement. Nikkei
China vows to spend more on 'heavy task' of creating jobs: Nikkei reports officials hail 'positive change' in property sector but deflationary pressure builds.
Zuckerberg’s Meta considered sharing user data with China, whistleblower alleges: Meta went to extreme lengths, including developing a censorship system, in a failed attempt to bring Facebook to millions of internet users in China, according to a whistleblower complaint. WP
Today: China's 10%-15% tariffs take effect on a host of US agricultural products, from soybeans and pork to corn and chicken. Beijing announced the retaliation just as US President Donald Trump's extra 10% blanket tariff on Chinese goods kicked in, on top of previous levies, ramping up the trade war between the world's two largest economies.
Tariff battle set to escalate this week with US levies on Canadian steel and aluminum: G+M reports the tariffs will take effect on Wednesday and will raise costs mostly for US consumers and businesses, where the market will find itself having to bear the 25-per-cent increase in the price of metal.
US trade deficit grew 34% in January: WSJ reports imports rose 10% to $401.2 billion, while exports climbed by 1.2% to $269.8 billion.
Reuters: Jack Daniel's maker says Canada pulling US alcohol off shelves 'worse than tariff'
‘America First’ policies are threatening American exceptionalism as the economy and markets flash warning signs Fortune
Trump’s economically illiterate bravado could do very serious damage: Fighting talk on tariffs may be a bluff, but the president should not toy with China. Liam Halligan
Trump’s tariffs face long odds in bid to bring factories home: The president’s tariff-first strategy could end a long stagnation in US manufacturing. But he is battling powerful long-term forces. WP
Trump does not know how to run an empire: Even if he doesn’t know it, Trump’s war on the bureaucracy is in direct conflict with his plans to exert power abroad. Robert D. Kaplan
+ Robert D. Kaplan is the author of 23 books, most recently, “Waste Land: A World in Permanent Crisis.” He holds the Robert Strausz-Hupé Chair in Geopolitics at the Foreign Policy Research Institute.
Only 36 companies account for half of global emissions, report estimates: State-owned companies made up 16 of the top 20 emitters in 2023. FT
*** US Politics + Elections ***
Axios: Trump brushes off CEOs' calls for clarity on tariffs
Tariffs are bad. Tariff uncertainty is even worse. A broad-based tax on imports would harm the US economy, but delays and exemptions for favored interests hurt US competitiveness. Matthew Yglesias
Trump won’t rule out a recession in 2025: Politico reports: “I hate to predict things like that,” Trump said when pressed about the possibility of a recession during a recorded interview that aired on “Sunday Morning Futures with Maria Bartiromo.”
Trump declines to rule out recession amid tariffs’ effects on markets: WP reports the president’s acknowledgment of economic turbulence was a reversal from previous cheering of his policies, and it contrasted with reassurances from his own advisers.
‘He finally shot the hostage’: Trump’s trade war is a brutal reality check: Trump imposing new tariffs on top of broader policy uncertainty will mean a hit to growth. The question is how large of a hit it will ultimately be. Politico
The president vowed to help the NC mountains rebuild after Helene. Frustration remains. WP reports the lingering frustration across parts of North Carolina’s Appalachian mountain region speaks to the complexity of rebuilding in a place dotted with FEMA centers — but people say they feel abandoned.
+ @jcroe: Let me get this straight, Putin is actually our ally, Zelensky is our enemy, Iran isn’t that bad, Canada is terrible, the Tate brothers are misunderstood, and Amy Coney Barrett is a traitorous liberal. Got it.
The populist vs. the billionaire: Bannon, Musk and the Battle Within MAGA: President Trump has made clear he wants to keep both men and their allies within his movement, but the tensions are growing. NYT
Inside the explosive meeting where Trump officials clashed with Elon Musk: Simmering anger at the billionaire’s unchecked power spilled out in a remarkable Cabinet Room meeting. The president quickly moved to rein in Musk. NYT
Chaos at the VA: Inside the DOGE cuts disrupting the veterans agency: Clinical trials have been delayed, contracts canceled and support staff fired. With deeper cuts coming, some are warning of potential harms to veterans. NYT
Companies warn investors that DOGE’s federal cuts might hurt business: WP reports as earnings season begins, filings to the SEC point to uncertainty from the current administration as potential trouble for business.
Democrats voice regret on scattered responses to Trump’s speech: NYT reports progressive and moderate Democrats criticized a protest by Representative Al Green as a distraction, and the party leadership tried to refocus attention on economic issues.
Ambitious Democrats have a new game plan: Yak it up about sports: Prominent leaders are flocking to sports radio shows and podcasts, an early sign of how the party is trying to reach apolitical young men who have tilted toward President Trump. NYT
A presidency of upheaval emboldens Trump: The velocity of his early moves has enthralled supporters but risks hurting the GOP in future elections. Molly Ball
People are paying millions to dine with Donald Trump at Mar-a-Lago: Business leaders are paying as much as $5 million to meet one-on-one with the president at his Florida compound, sources tell Wired, while others are paying $1 million apiece to dine with him in a group setting.
Fear of Trump has elite law firms in retreat: WSJ reports executive orders against Perkins Coie and Covington & Burling have chilled industry.
To win McConnell’s senate seat, Kentucky hopefuls run away from Mitch: WSJ reports as contest turns nasty, onetime allies now seek Trump’s endorsement in sign of how GOP politics have shifted.
Golf industry tees up fight to keep daylight saving time: FC reports the move is intended to stave off efforts to establish permanent standard time, which would leave less time for an evening on the links.
The Government knows AGI is coming Ezra Klein
Anthropic’s recommendations to OSTP for the US AI action plan Anthropic
CNBC: Scale AI announces multimillion-dollar defense deal, a major step in US military automation
+ Scale AI has partnered with the Department of Defense to use AI agents for US military planning and operations.
With Apple coming, is Houston the next big tech hub? City Cast Houston
Venture capital’s ‘blitzscaling’ obsession is warping the world: Catherine Bracy takes Silicon Valley monoculture to task in a new book. Bloomberg
A political reporter takes her scoops to YouTube: Most online political media stars traffic in highly partisan viewpoints. Tara Palmeri hopes that playing it straight will pay off. NYT
The future of news looks niche: The media entrepreneur Jessica Lessin chats with DealBook about the news landscape and her latest media bet. DealBook
Axios: Patch scales to 30,000 US communities with AI newsletters
*** Distribution + Innovation ***
How to build your own AI assistant Alexandra Samuel
How knowledge work will evolve in the AI era: AI is transforming our thinking skills—not replacing them. Rhea Purohit
AI Chatbots have telltale quirks. Researchers can spot them with 97% accuracy: A new study shows that different LLMs have distinct writing styles—making AI-generated text easier to detect. FC
OpenAI’s ex-policy lead accuses the company of ‘rewriting’ its AI safety history Fortune
Sony slams ‘unworkable’ AI plans as music theft: The government is proposing to change UK laws to provide an exemption from copyright rules to allow AI developers to mine video, audio and text content. The Times
Sam Altman’s other startup is building an app to compete with Elon Musk’s X: The CEO of OpenAI imagines a future where you’ll need to constantly demonstrate that you’re not a bot. His “everything app” is the answer—but first, he needs to look deep into your eyes. Christopher Mims
How Walmart built the biggest threat Amazon has faced: With thousands of stores, and an army of drivers, the giant retailer can make same-day deliveries to more than 90% of the country. WSJ
CVS’s new mini stores go all in on medicine and skip everything else: WSJ reports the national drugstore chain is preparing to open a dozen stores offering full-service pharmacies but very limited retail.
Hudson’s Bay anticipates closing about half its 80 stores in restructuring plan: G+M reports the country’s oldest retailer hopes it can survive with a smaller store footprint, if it can secure co-operation from landlords, sources say.
Bridgestone and Michelin test advances in puncture-free tyres: FT reports innovation by world’s biggest suppliers potentially smooths path for self-driving vehicles.
Bloomberg: JetBlue to revamp flagship terminal at New York’s JFK
*** Culture ***
Banksy artwork inspired by Jack Vettriano sells for $5.4 million at Sotheby’s. Artsy
Why Japan is the perfect place to turn 50: A significant birthday feels less so in a country that has become a global pioneer of ageing — for better and for worse. Leo Lewis
*** Sport ***
FIFA to consider expanding World Cup to 64 teams: NYT reports soccer’s governing body will look into another expansion of its marquee event, the most lucrative in sports, after a request by one of its 2030 co-hosts.
FIFA is set to give more than $1bn in prize money to clubs participating in the Club World Cup as the European Club Association (ECA), negotiating on behalf of clubs in Europe including Chelsea and Manchester City, closes in on a deal.
How United Soccer League plans to launch a new top division LAT
McLaren F1’s Zak Brown: From school dropout to speed king: The McLaren Racing boss reveals how he turned the British Formula One team around both on and off the track, after it flirted with collapse during the pandemic. The Times
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal