Marc Ross Daily | March 13
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.
Marc Ross Daily will be on hiatus starting Monday, March 17, and will return on Monday, March 24.
Happy Thursday.
Here’s today’s Marc Ross Daily:
*** Ross Rant ***
Trump's trade war: America's self-inflicted economic madness
The mounting economic casualties from Trump's misguided trade war reveal an administration desperately clinging to an outdated vision of global commerce. As Canada and the European Union respond with retaliatory tariffs, the foolishness of instigating conflict with our closest allies shows no signs of stopping; where is the off-ramp?
The Trump administration's proposed tariffs target over $150 billion in imported consumer goods and raw materials like steel and aluminum, affecting products from baseball bats to caskets. This comes as major retailers like Kohl's report weak sales forecasts, joining other companies warning of declining household spending. Persil-owner Henkel notes that US policies are negatively impacting the North American market.
Meanwhile, the airline industry faces challenges as United Airlines and American Airlines warn of dropping domestic travel demand, and small business sentiment has deteriorated despite initial post-election optimism. The National Federation of Independent Business reported its small-business optimism index fell 2.1 points in February to 100.7, while the uncertainty index jumped to 104, its second-highest reading since tracking began in 1986.
The tragedy of Trump's trade war extends beyond immediate economic harm.
America's historical role as a champion of rules-based international trade has provided substantial diplomatic advantages. Nations have traditionally looked to the United States for leadership in creating frameworks for mutual prosperity, a position of influence that erodes with each passing day of needless trade conflict.
Most concerning, the Trump administration appears wedded to an antiquated vision of the American economy. While competitors invest heavily in automation, artificial intelligence, and renewable energy, Trump's economic policies - this is speculation since the president has never laid one out - focus on rebuilding the economy of the 1950s instead of building the economy of the 2050s. This backward-looking stance threatens America's future competitiveness.
Civic and business leaders must engage the Trump administration and pressure it to recommit to the principles that built American prosperity: championing open markets, fostering innovation, and leading by example.
When approached as a positive-sum game, trade creates mutual benefits rather than a zero-sum battle.
Ending this self-destructive trade war would signal renewed American leadership. Our economic vitality comes from participation, not isolation—not from breaking trade relationships but from strengthening them. The sooner the Trump administration recognizes this economic reality and abandons feel-good campaign rhetoric, the sooner America can reclaim its role as the world's premier economic power.
The wheels haven't just come off Trump's trade war wagon; they've rolled straight into the ditch of economic and political reality. For America's sake and the sake of the Western world, it is time for the Trump administration to ride a modern vehicle better suited for the road ahead.
For America's continued prosperity and global standing, we must have commonsense trade policies that address future opportunities while ensuring American soft-power leadership.
Enjoy the ride + plan accordingly.
-Marc
*** Globalization + Geopolitics ***
An unexpected Trump bump for the world’s centrists: As President Trump’s “shock and awe” policies radiate around the world, they are galvanizing support for moderate leaders and unifying Europe. NYT
Power, money, territory: How Trump shook the world in 50 days: The system America took 80 years to assemble proved surprisingly fragile in the face of Trump’s assault, a revolution in how the country exercises power across the globe. NYT
Trump’s economic messaging is spooking some of his own advisers: President’s team receives flood of calls from business executives concerned about mixed messaging on tariffs. WSJ
Trump’s erratic policy is harming the reputation of American assets: Like the stockmarket, the dollar is also suffering from falling confidence and rising confusion. Economist
How do you like the trade war now? Trump is furious that Canada won’t take his tariffs lying down. WSJ - Editorial
+ "We said from the beginning that this North American trade war is the dumbest in history, and we were being kind."
Is Trump throwing it away? His tariff circus undermines US standing just when it would be most useful. Holman W. Jenkins, Jr.
Toronto Star: CANADA STRIKES BACK
Toronto Star: Mark Carney says he’ll meet Donald Trump on trade when there’s ‘respect for Canadian sovereignty’
Even Americans don’t want Canada as 51st state amid Trump’s annexation threats, new poll finds: A mere six per cent of Americans say that the US should annex Canada “using political and economic pressure," a new poll found. Toronto Star
+ @CPAC_TV: "The excuse for those tariffs shifts every day. The only constant in this unjustified and unjustifiable trade war seems to be President Trump's talks of annexing our country through economic coercion," says Foreign Affairs Minister Mélanie Joly on ongoing Canada-US trade war.
+ @abcnews: #BREAKING: Australia will not be granted an exemption from US tariffs on aluminium and steel imports, the White House says.
Bourbon and scotch makers find a common enemy in tariffs: Weaponized trade is rattling the global whiskey business. Bloomberg
European Union plans to hit back against the 25% US tariffs on imports of the metals, the official - who asked not to be identified - said Britain would continue to engage with the US in an attempt to secure an exemption.
EU, Canada retaliate against Trump’s tariffs as trade war escalates: WP reports as President Donald Trump’s global steel and aluminum tariffs took effect, the European Union announced tariffs on US exports and warned of further retaliation.
Reuters: UK will not respond to US steel tariffs, British official says
Back peace or I’ll ruin you, Trump tells Putin: The Times reports Europe hopes a pause in the fighting could come as soon as Thursday after Ukraine agreed to a truce plan in Jeddah.
US-backed cease-fire offer poses dilemma for Putin: NYT reports Russia’s leader recently rejected the idea of an interim truce in Ukraine. But he wants to maintain his relationship with President Trump.
Europe thinks the unthinkable on a nuclear bomb: Poland wants co-operation with France on a nuclear deterrent. That could take many forms. Economist
The UK questions its nuclear deterrent, which depends on the US: Le Monde reports although unthinkable just a few weeks ago, a debate is now taking shape on the possibility of calling into question the long-standing partnership with the United States and its implications.
The Russian threat to Britain spans every field Telegraph - Editorial
Was the North Sea collision an accident — or an act of sabotage? Marine accident investigators will be examining everything from the crews’ schedule to whether attempts were made to change course. The Times
Friedrich Merz, German chancellor before his time: Le Monde reports even though negotiations to form a coalition have not yet begun, the head of the Christian Democratic Union party, which came out on top in Germany's February 23 elections, has already embarked on major projects in his country and abroad.
Germany ‘buried’ spy report that COVID started in Wuhan lab: The Times reports Chancellors Merkel and Scholz are said to have kept secret an explosive intelligence assessment of how the pandemic began.
Reuters: If Europe builds the gigafactories, will an AI industry come?
+ The plan for the large public access data centres, unveiled by European Commission President Ursula von der Leyen last month, will face challenges ranging from obtaining chips to finding suitable sites and electricity.
Spain to impose massive fines for not labelling AI-generated content: Reuters reports Spain's government approved a bill on Tuesday imposing massive fines on companies that use content generated by artificial intelligence (AI) without properly labelling it as such, in a bid to curb the use of so-called "deepfakes."
AI should replace some work of civil servants, Starmer to announce: Guardian reports the new digital ‘mantra’ prompts unions to warn PM to stop blaming problems on Whitehall officials.
TST: Singapore, Vietnam to deepen ties across the board with wide-ranging pact
Indian government proposes AI oversight board and mandates bureaucrat training: The board is charged in evaluating and approving and reviewing AI applications utilized across the government, making sure they are in line with ethical and legal standards.
China is mapping the seabed to unlock new edge in warfare: Beijing’s exploration of distant waters brings security fears and complaints. WSJ
The railway that China hopes will take on the US in Africa: Tazara project showcases Beijing’s leaner approach to overseas development just as western aid appears to retreat. FT
+ @Dimi: @BrendanCarrFCC is creating a new national security council to counter China technology threats
Trump’s ‘reverse Nixon’ charade insults our intelligence: The US president’s crude goal is to separate Russia from China – sacrificing Ukraine as a pawn. Ambrose Evans-Pritchard
G+M: Mark Carney to be sworn in as prime minister on Friday, source says
The US has covertly destabilized nations. With Canada, it's being done in public: Intelligence experts say young, economically vulnerable people would be likely target. Evan Dyer
+ A former CISIS director says US covert operations on Canadian soil would likely offer the country little return in exchange for a great deal of risk. And Donald Trump is typically his own messenger, preferring the megaphone to the coded message.
Greenland’s election winners push back against Trump’s wish to take control of the island: AP reports a party that favors a gradual path to Greenland’s independence from Denmark won a surprise victory in parliamentary elections, held in the shadow of US President Donald Trump’s stated goal of taking control of the island.
*** US Politics + Elections ***
Senate Minority Leader Chuck Schumer (D-NY) threw a wrench into a Republican plan to avert a government shutdown this weekend, saying there wasn’t enough Democratic support to advance the measure funding federal agencies through Sept. 30.
+ Senate Democrats balk at funding extension, raising the risk of a shutdown
Senate Democrats say they will reject GOP's funding bill as shutdown draws near: NBC News reports after meeting with his conference, the Senate Minority Leader Chuck Schumer said "Republicans do not have the votes" to advance the House-approved measure.
+ Democrats seek bill to keep government open through April 11.
The whiplash presidency: The president and his aides are changing their minds at nauseating speed. David A. Graham
The cost of eggs in the US jumped 10.4% last month, the Consumer Price Index shows. Eggs are nearly 60% more expensive than a year ago.
Opinion of Trump's handling of economy: CNN poll conducted by SSRS - March 6-9:
Approve Disapprove
Now 44% 56%
March '20 54% 42%
March '19 51% 42%
March '18 48% 45%
March '17 55% 41%
+ The probability of a US recession taking place this year stands at around 40%, according to Bruce Kasman, JP Morgan’s chief global economist.
CEOs don’t plan to openly question Trump. Ask again if the market crashes 20%. Behind closed doors, business leaders air plenty of concerns about the administration and its policies. WSJ
Donald Trump bought a $90,000 Tesla with 37 recall notices against it: Wired reports, here’s hoping Elon Musk won’t have to personally fix President Trump’s new EV anytime soon.
Elon Musk’s self-destruction: The cost for Donald Trump of keeping the world’s richest man by his side is growing. Edward Luce
Donald Trump Jr: Championing the MAGA economy : ESG and DEI are out as the US president’s son makes lucrative investments that align with his father’s vision of America. FT
Bloomberg: Trump’s FTC moves ahead with broad Microsoft antitrust probe
Stuck NASA astronauts prepare to return after nine months in space: WP reports the scheduled SpaceX Dragon launch Wednesday would set in motion plans for the return of Sunita Williams and Barry “Butch” Wilmore from the International Space Station.
Wind and solar overtake coal power for first time in US: WSJ reports the two renewable energy sources accounted for 17% of the country’s power mix while coal fell to a low of 15%. Natural gas remains by far the largest source of electricity, accounting for 43%.
NH-SEN: Senator Jeanne Shaheen (D-NH) will not seek re-election in 2026.
Gavin Newsom finds some surprising common ground with Steve Bannon: The California governor hosted one of the architects of President Trump’s political movement on his new podcast, and their friendly sparring revealed a few points of agreement. NYT
Rahm Emanuel is gearing up to run for president: The former Chicago mayor is already on the hustings, finding new ways to attack Trumpism from the center. Jonathan Martin
+ Ross Rant: Rahm Emanuel 2028. Book it.
Politico: Bannon refuses to rule out presidential run in 2028
HR Drive: California senator introduces ‘No Robo Bosses Act’ in bid to regulate AI at work
+ States will likely take the lead on AI regulation “for the foreseeable future”
+ CA State Sen. Jerry McNerney, D-Pleasanton, announced his introduction of SB7, otherwise known as the “No Robo Bosses Act,” on March 6 to require human oversight of artificial intelligence in the workplace
*** Distribution + Innovation ***
When AI gets a board seat: Lab experiments show that AI can outperform humans, but outside of the lab, when making decisions, executives face shifting challenges, often with insufficient or inaccurate data. A team of BCG consultants wanted to understand: What happens if they take AI out of the lab into a real company? Over the past year they joined a series of executive team meetings at Giesswein, an $85 million revenue company based in Austria, that sells organic, eco-friendly wool sneakers. The idea was to experiment with different ways of integrating AI into their executive meetings to understand what works and how. HBR
+ @tomfgoodwin: The people who think AI is most amazing are the sort of people that think "word clouds" offer insight.
1trn yuan: The size of the venture-capital fund that China’s government wants to set up for tech-focused investment.
Everyone in AI is talking about Manus. We put it to the test. The new general AI agent from China had some system crashes and server overload—but it’s highly intuitive and shows real promise for the future of AI helpers. MIT TR
Reuters: DeepSeek AI cranks open the spigots on Chinese venture capital
+ “People are rushing just to find the next DeepSeek,” said Annabelle Yu Long, founding and managing partner of BAI Capital in Beijing.
Reuters: OpenAI launches new developer tools as Chinese AI startups gain ground
Google DeepMind unveils new AI models in race to make robots useful: FT reports company claims ‘leap forward’ with new technology that helps machines adapt to complex environments.
WTF is ‘shadow AI,’ and why should publishers care? Digiday
Bloomberg: Starbucks to add seating, power outlets to attract customers
Paris's La Défense business district is (still) trying to work out its future: Owners of these big office skyscrapers are worried about the fate of this key European business district at a time of decline in commercial real estate and global warming. Le Monde
Elon Musk’s antics are not the only problem for Tesla: The carmaker’s sales are sinking for other reasons too. Economist
*** Culture ***
This Michelin-recommended Mexican spot in Toronto is closing. The chef opens up about the mental health toll of running a high profile restaurant: Chef Iván Castro is closing his vegan Mexican restaurant in Little Italy after five years. TS
The true story behind Paramount’s Landman: This explosive new series is Paramount's most successful original series debut. Country + Townhouse
People: Lisa Vanderpump and Caesars Entertainment to Open The Vanderpump Hotel on Las Vegas Strip in 2026
*** Sport ***
Can Formula One ever be sustainable? The motor sport famed for its fast cars, glamorous lifestyle and Champagne finishes is trying to halve its emissions by 2030. WSJ
Eminem has joined an effort to bring a WNBA expansion team to Detroit.
30 hours in a hurricane, on a race with no course: Why would hundreds of people trek overnight through the wilderness with nothing but a compass? Because it’s the best feeling in the world. NYT
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Marc Ross Daily | March 12
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