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Trump mulls ways to save TikTok, two whiskey giants battle it out in India, and visionary American f͏‌  ͏‌  ͏‌  ͏‌  ͏‌  ͏‌ 
 
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January 17, 2025
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The World Today

  1. Bessent eyes Russia sanctions
  2. Canada, Mexico tariff prep
  3. TikTok’s saving grace
  4. Israel delays ceasefire vote
  5. Sri Lanka’s balancing act
  6. Defense research in Europe
  7. Whiskey showdown in India
  8. David Lynch dies
  9. K-pop sales slow
  10. Lynx spur rewilding debate

Korean poetry heads for the Moon, and Chile has its own interpretation of sushi in today’s Substack Rojak.

1

Bessent backs tougher Russia sanctions

Chart showing Russia is the world’s most sanctioned country, followed by Iran, Syria, and North Korea.

US President-elect Donald Trump’s pick to lead the Treasury suggested tougher sanctions against Russia’s oil sector are on the way. Hedge fund manager Scott Bessent said he is “100% on board” with sanctions that would bring Moscow to the table for talks to end the Ukraine war. Trump’s plans for economic restrictions targeting Russia are still in the early stages, Bloomberg noted, but the eventual approach will be “pivotal to the global oil market”: The Biden administration’s aggressive sanctions on Russian oil last week already drove up oil prices. During his confirmation hearing Thursday, Bessent also signaled alignment with Trump on his sweeping tariff plans, though Wall Street sees him as a possible moderating force on the issue.

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2

Canada, Mexico mull tariff response

Mexico’s President Claudia Sheinbaum speaks during a press conference at the National Palace, in Mexico City, Mexico January 8, 2025.
Henry Romero/File Photo/Reuters

Canada and Mexico appear to be mulling a united response to Donald Trump’s trade threats. Mexican President Claudia Sheinbaum met this week with Canadian business leaders, a gathering seen as a “first step” toward a joint defense of the countries’ existing trade agreement, El País wrote. The former head of Canada’s Liberal Party told the Financial Times’ Gideon Rachman that both countries need to pull together a “hemispheric” response. The talk of cooperation comes as Ottawa plans its answer to Trump’s threat of higher duties: It has reportedly drawn up a list of US-manufactured items worth $105 billion for potential retaliatory tariffs, and is even considering cutting off its energy supply to the US.

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3

Trump weighs ways to save TikTok

U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach. Florida, U.S. January 7, 2025.
Carlos Barria/Reuters

Donald Trump is reportedly exploring ways to prevent TikTok’s demise in the US — for the time being. The incoming president is considering an executive order to suspend enforcement of a law passed last year requiring TikTok’s Chinese owner to either sell the app or face a ban a day before Trump takes office, The Washington Post reported. In an apparent show of support, Trump reportedly invited TikTok’s CEO to sit on his inauguration dais Monday, alongside other Big Tech bigwigs. An ebullient tech industry has embraced Trump’s return to power and is planning a flurry of parties on the sidelines of his inauguration: “​​The elite of Silicon Valley are set to revel in their new clout,” The New York Times wrote.

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4

Israel delays Gaza ceasefire vote

Supporters and family members of hostages kidnapped during the deadly October 7, 2023, attack on Israel by Hamas, hold lit up torches during a protest ahead of a ceasefire between Israel and Hamas, in Tel Aviv, Israel, January 16, 2025.
Shir Torem/Reuters

Israel delayed a cabinet vote to approve a ceasefire and hostage release deal with Hamas, after accusing the Palestinian group of reneging on parts of it. Hamas denied the allegations, but disagreements over last-minute details pushed the vote to Friday, alongside internal dissent among Prime Minister Benjamin Netanyahu’s coalition. Two hard-right ministers in his government threatened to quit over the six-week truce, set to take effect Sunday. The rebellion could threaten the Israeli leader’s hold on power, analysts said, but “I don’t think Netanyahu has the power to back off from the deal,” a former adviser to the Israel premier told the Financial Times. “Because he was cornered by Trump.”

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5

Sri Lanka balances India, China ties

Chinese President Xi Jinping, left, walks with Sri Lankan President Anura Kumara Dissanayake during arrival ceremonies at the Great Hall of the People in Beijing, China.
Aaron Favila/Pool via Reuters

The Sri Lankan president’s visit to China this week — his second international trip after India — underscored the South Asian island’s geopolitical balancing act. President Anura Kumara Dissanayake left Beijing with a $3.7 billion investment agreement with a Chinese state-owned oil giant and a pledge for more economic cooperation. India is also looking to make inroads with the country on trade to counter China’s growing influence. Sri Lanka recently lifted a ban on foreign research vessels in its waters; New Delhi had supported the moratorium over security concerns about a Chinese boat that conducted research in the area in late 2023. The reversal, which could avoid alienating Beijing, shows Sri Lanka’s strategy of being “as non-aligned as possible,” an expert said.

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6

Europe aims to boost military research

The European Union’s push to increase university participation in military research is raising concerns in academic circles. While China and the US have fostered collaboration between their defense and research establishments, European academics have traditionally kept their distance from military projects, with some universities explicitly banning such work. “There is a lot of pressure” to shift from civilian research, a German particle physicist told Science, calling the trend “extremely worrying.” The EU’s defense commissioner called increased military R&D crucial for the bloc’s self-reliance, particularly amid uncertainty about future US commitments. NATO’s efforts to bolster Europe’s defense innovation have been complicated by complex regulations and fragmented markets across member states.

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7

Whiskey showdown in India

A bartender reaches out for a bottle at a bar in a luxury hotel in Mumbai.
Arko Datta/Reuters

Two global alcohol giants are battling for dominance in India’s burgeoning whiskey market, as liquor sales falter in more developed countries. The UK-based Diageo and France’s Pernod Ricard are hoping to take advantage of India’s rising incomes and growing drinking-age population. But making a profit as a whiskey distributor is difficult in India, Bloomberg reported, in part because of intense regulations and astronomical taxes for moving alcohol between states. The India operations of both companies are seen as lagging behind their global counterparts’. Meanwhile, Indian whiskey is drawing overseas acclaim; despite the country having a different climate than many whiskey-producing regions, connoisseurs point to its indigenous grains and innovative distillation techniques.

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Live Journalism
Semafor at Davos illustration

Join us for our largest convening at Davos yet, featuring a world-class lineup of live journalism at the World Economic Forum 2025. Semafor editors will engage with industry leaders to discuss key themes, including global finance, blockchain, AI in the Gulf, Africa’s growth trajectory, and much more.

Explore the schedule and request invitations to attend Semafor sessions at Davos.

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8

David Lynch’s impact on film, TV

David Lynch gestures on the day of the screening of the TV series “Twin Peaks” presented as part of 70th Anniversary Events, in Cannes, France, May 25, 2017.
Jean-Paul Pelissier/File Photo/Reuters

US filmmaker David Lynch, who exerted a vast influence on the big and small screen and challenged America’s ideas about itself, died aged 78. The writer-director was known for his surrealist style that explored the darkest elements of the human psyche, from the seminal TV mystery Twin Peaks, to the highly acclaimed movie Blue Velvet, which probed the depravity lurking beneath a small town’s idyllic façade: “The unassuming setting of suburbia and the atmosphere of film noir, once worlds apart, became inextricable after the movie’s release,” The Atlantic wrote in 2016. Famously reticent, Lynch refused to elaborate on the meaning of his enigmatic films. “I like things that leave some room to dream,” he once said.

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9

K-pop had a tough 2024

A woman takes a picture of a billboard wishing happy birthday to a K-pop singer Jimin at the subway in Bangkok, Thailand.
Chalinee Thirasupa/Reuters

The multibillion-dollar K-pop industry struggled in 2024, even as its cultural footprint expanded. The genre’s physical album sales — which have remained popular despite the rise of streaming — fell 19% last year, the first decline in nine years, according to a report. Shares of the four largest K-pop entertainment companies also took a hit, thanks to a lack of major new releases and tours, and negative publicity surrounding leading industry executives. The head of the country’s music association warned of a “great crisis for the industry,” but K-pop is expected to rebound in 2025 as juggernaut acts BTS and Blackpink plot comebacks.

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10

Lynx released in illegal rewilding

A lynx relaxes on the branches of a snow covered tree in the zoo of Langnau near Zurich January 13.
Andy Mueller/Reuters

Four Eurasian lynx were released into the wild in Scotland, in what is believed to be an illegal rewilding campaign. Lynx have been extinct in the UK for a millennium, but remain widespread in Europe. Rewilding advocates want to bring them back, along with wolves, saying it will improve ecosystems by reducing deer populations and allowing trees to recover, but farmers oppose it. “Unregulated reintroductions are surprisingly common,” an academic wrote in The Conversation: “Beaver bombing” and “boar bombing” have led populations of those animals to grow across Europe. Activists are looking to short-circuit what they view as a bureaucratic political debate around rewilding — but at a cost. In this case, the lynx were soon recaptured, and one died soon after.

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Flagging

Jan. 17:

  • Iran’s President Masoud Pezeshkian visits Moscow to sign a partnership treaty with Russian President Vladimir Putin.
  • China reports its GDP for the fourth quarter of 2024.
  • India’s biggest automobile show starts in New Delhi.
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Substack Rojak

Rojak is a colloquial Malay word for “eclectic mix,” and is the name for a Javanese dish that typically combines sliced fruit and vegetables with a spicy dressing.

Open for business?

The migration of American TikTok users to Chinese social media platform Xiaohongshu this week is a soft power victory for Beijing’s tech ecosystem, but the hype may not last, a Chinese business newsletter argued. The US embrace of the heavily censored app, considered China’s answer to Instagram, has led to a rare cultural exchange between the two superpowers, as users conversed about memes, cat photos, and social issues. While Beijing is likely to crack down on the app, its US success has highlighted the influence of the country’s tech companies, and “presents an opportunity for China to reinforce the ‘openness’ message it’s been trying to convey to the world,” Amber Zhang wrote in Baiguan.

But American creators may not survive on the Chinese app, Zhang argued, because they are likely to have a hard time monetizing content as they have on TikTok. Xiaohongshu allows users to sell goods, which isn’t very feasible for foreigners who don’t do business in China or speak Chinese. “It’s not as simple as asking TikTok creators to post the same content elsewhere.”

Nothing was the same

A new documentary about musician Brian Eno is just as experimental and innovative as its subject. Eno, which was recently shortlisted for an Oscar, uses a generative code to sift though hundreds of hours of footage and choose what will be included in every 90-minute showing. That means about 70% of the film will be different every time, and no audience sees the same version, writer Stephan Kunze recapped following Eno’s Berlin premiere.

In his newsletter zensounds, Kunze admitted he was skeptical going in, which he attributed to a shared cultural attachment “to the ‘classic’ format of a static 90-minute film.” But artists like Kanye West, who has modified his albums after their release, show that “a work of art can be constantly changing, updating itself in real time, and never – or always – be ‘finished.’” The biopic didn’t narrate Eno’s story in a linear way, but gestured to the larger universe of his work. Above all, it showed that a person’s life is “not so much one definitive story… but an indefinite mosaic of possibilities.”

Rock ‘n’ rolls

Chile has adapted sushi to fit local diets, creating an unlikely hybrid cuisine. The South American country, a massive global fish producer, has tweaked the way sushi is traditionally made. Rather than being served cold, it is common to deep-fry rolls, creating a “bright orange concoction” that is then sliced up. Ceviche often replaces sashimi in the rolls, along with oozy cream cheese that the writer of the Hidden Japan newsletter deemed “too much.”

Chileans have embraced the changes by renaming sushi to “Nikkei,” a term that can broadly mean “descended from Japanese,” the newsletter noted: “That may be the most accurate way to see all of this. An interpretation of food that once was Japanese.” Now, many generations will see it as something “truly Chilean.”

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Curio
Firefly’s Blue Ghost lander.
Firefly Aerospace

Eleven traditional Korean poems are on their way to the Moon, traveling aboard a SpaceX rocket. The verses will form part of the Lunar Codex, a massive project to digitize and archive 30,000 works of art at the Moon’s south pole with the aim of preserving humanity’s cultural heritage for whomever might visit in future. Known as sijo, the lunar-bound poems’ three-line form dates back to the Goryeo Dynasty of 918-1392, Korea JoongAng Daily wrote. They’re part of an anthology, The Polaris Trilogy, whose editors seek to make poetry from each of the Earth’s continents “available to those who visit the Moon for millions of years to come.”

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Semafor Spotlight
Donald Trump speaks with Sen. John Thune and Rep. Mike Johnson.
Bryan Snyder/Reuters

John Thune and Donald Trump are texting buddies now, Semafor’s Burgess Everett and Shelby Talcott report.The new Senate majority leader and the president-elect have very different personalities, but these days, Republican leaders are well aware that a lack of close coordination will spell political disaster — so Thune and Trump are building a harmonious relationship.

For more on the Trump transition, subscribe to Semafor’s daily Principals newsletter. →

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