The Committee on Foreign Investment in the United States (CFIUS) has granted an extension until June 18, 2025 for a transaction involving the US steel industry, allowing it to proceed despite initial opposition from President Biden's administration. The deal, which aims to secure the future of the American steel industry and its stakeholders, drew criticism from Japan's government and business community, with Prime Minister Shigeru Ishiba calling on Washington to explain its reasoning. Japanese Foreign Minister Takeshi Iwaya urged the US to address concerns in the business community while maintaining the strength of the Japan-US alliance.
https://channelnewsasia.com/world/us-delays-enforcement-order-blocking-nippon-steel-merger-4852671US President Joe Biden blocked Nippon Steel's acquisition of U.S. Steel on national security grounds on January 3, citing a thorough analysis by the Committee on Foreign Investment in the United States led by Treasury Secretary Janet Yellen. The move delays the parties' deadline to unwind their transaction, which was previously set for 30 days.
https://www.japantimes.co.jp/business/2025/01/12/companies/nippon-steel-deal-delay/A meeting between US President Joe Biden and Russian President Vladimir Putin to discuss the conflict in Ukraine is being planned, according to Kremlin Spokesman Dmitry Peskov. However, Peskov noted that a formal request for the meeting has not yet been made by the US. This comes as most UN delegates failed to attend a conference on peace efforts, with Russia's Foreign Ministry Spokeswoman Maria Zakharova calling it a "total failure".
https://www.the-star.co.ke/news/world/2025-01-12-switzerland-ready-to-host-putin-trump-meeting-on-ukraineThe US and UK have imposed new sanctions on Russia's energy sector, including oil giant Gazprom Neft, ahead of President Joe Biden's departure from office. The move has been met with criticism from Moscow, which claims it could lead to global energy instability.
https://www.manilatimes.net/2025/01/13/business/foreign-business/us-risks-global-energy-instability-with-sanctions/2037378Boris Johnson has criticized Vladimir Putin's imperial ambitions, stating that Ukraine and other Eastern European countries will not rejoin the "Russian imperium". He also warned that Western nations are in a state of retreat and that Donald Trump may not provide full support to Ukraine unless NATO members increase their military spending. Specifically, Johnson rebuked Germany for demanding aid from Trump while failing to meet its own defence commitments, citing an example where Germany refused to send frozen Russian assets worth 300 billion to Ukraine.
https://www.dailymail.co.uk/news/article-14275395/Boris-Johnson-brands-Vladimir-Putin-f-ing-idiot-calls-Western-leaders-let-Ukraine-join-Nato.htmlAt the Kazan summit in October, BRICS members committed to advancing their collective interests across mineral production value chains. This is crucial for manufacturing clean tech products such as solar panels and electric vehicles. By joining BRICS, countries can coordinate policies and build consensus to secure critical supply chains while resisting Western pressure that may conflict with their national or regional interests.
https://www.scmp.com/opinion/asia-opinion/article/3294105/indonesia-brics-adding-southeast-asia-its-power-base?module=top_story&pgtype=sectionCanada's unemployment rate decreased to 6.7% in December, marking a decline from November's 6.8%, which was the highest since January 2017, excluding 2020 and 2021 when pandemic lockdowns affected employment numbers. The economy added 91,000 jobs, mostly full-time positions, with gains in the education sector leading the way. However, concerns about potential tariffs imposed by incoming U.S. President Donald Trump are looming, as Ottawa has threatened to retaliate if a 25% tariff is implemented on Canadian imports. Despite this, TD Economics expects Canada's economy to continue growing, with a predicted interest rate cut of 25 basis points in the coming month.
https://www.hurriyetdailynews.com/canadas-unemployment-falls-but-trump-threats-cloud-outlook-204592Canada has dispatched various resources to help combat the wildfires in California, including 40 front-line firefighters from Alberta, a team of senior officials from British Columbia, Super Scoopers airplanes from Quebec, and more water bombers and personnel from Ontario. The Canadian government has also listed its resources that are standing by to assist the US in an emergency. This move is seen as a response to US President Trump's comments suggesting Canada is an economic freeloader and a national security vulnerability. Premier Doug Ford of Ontario stated that his province would "spare no expense" to help their closest friends and allies, while Prime Minister Trudeau highlighted the strong bond between Canada and the US, saying "We're friends — especially when times get tough."
https://thestar.com/news/analysis/justin-trudeau-s-neighbourly-response-to-help-battle-california-wildfires-sends-a-pointed-message-to/article_7d1b6c0e-d058-11ef-b3e3-1fff14837d7e.htmlChina is expanding its strategic influence by securing key trade routes, including the Panama Canal, which it aspires to economically control through its operations at both ends of the canal with the Landbridge Group and CK Hutchison Holdings. This move is part of a broader strategy that also involves securing sea routes in the Gulf of Aden and Bab-el-Mandeb Strait. Additionally, China has declared itself a "Near Arctic State" and launched the "Polar Silk Road", an Arctic version of its Belt and Road Initiative, in partnership with Russia. The U.S. is concerned about this growing presence, particularly as it relates to Greenland's increasing importance in national security due to global warming opening up the Northern Sea Route.
https://nypost.com/2025/01/12/opinion/trumps-greenland-push-about-growing-china-threat/