Japan Snap Election Sparks Bond Yield Surge as Parties Clash Over Fiscal and Monetary Policy 
Haiti Transitional Council Pushes to Remove Prime Minister Despite U.S. Warnings 
Colombia Suspends Electricity Exports to Ecuador as Trade and Security Dispute Escalates 
California Sues Trump Administration Over Federal Authority on Sable Offshore Pipelines 
NATO Chief Says Greenland Sovereignty Not Discussed as Trump Backs Off Tariff and Force Threats 
Trump Calls for Prosecution of Jack Smith After Congressional Testimony 
Trump Withdraws Canada Invitation to Board of Peace Initiative 
Trump Explains Bruised Hand, Cites High Aspirin Intake During Davos Trip 
Somaliland President Meets Eric Trump and Israeli President at Davos to Seek Recognition and Investment 
Trump Pushes Back on 401(k) Homebuyer Plan Amid Housing Affordability Debate 
U.N. Human Rights Council Condemns Iran Over Deadly Crackdown on Protests 
NATO, Trump, and Arctic Security: Greenland Talks Highlight Rising Russia-China Concerns 
Keir Starmer Condemns Trump’s Afghanistan Remarks as European Allies Push Back 
U.S. Backs Iraq’s Move to Detain ISIS Fighters, Urges Global Repatriation 
Iran Warns of All-Out War Response as U.S. Sends Aircraft Carrier to Middle East 
South Korean Prime Minister Kim Min-seok Meets U.S. Vice President JD Vance to Advance Trade and Security Talks 
U.S. Steps Aside as Syria Reclaims SDF-Held Territory in Power Shift 
The two major blocs of the European Union and the Association of Southeast Asian Nations held their first summit this week. Both regional groupings agreed to deepen economic ties as well as reaffirm the respect for Ukraine’s sovereignty and territorial integrity.
The leaders of the 27 EU countries and nine leaders of the 10-member ASEAN grouping held their first summit which also marked 45 years of diplomatic relations between the two regions. Only the military junta leaders of Myanmar were not included in the conference. Both blocs discussed areas of future cooperation such as trade, green and digital transitions, and health.
The EU and ASEAN have also signed a deal to allow their airlines to expand their services easily. Both blocs also reaffirmed their commitment to a rules-based international order.
The EU Commission President Ursula von der Leyen announced a $10.65 billion commitment to 2027 for investment and infrastructure in ASEAN. The commitment will focus on green projects and connectivity.
The EU intends to expand its trade ties beyond free trade agreements with Singapore and Vietnam and negotiations with Indonesia. The two blocs are each other’s third-largest trading partners, and the summit that took place on Wednesday was the first summit between the two groupings in history.
Von der Leyen and Cambodian Prime Minister Hun Sen said that the ultimate goal was a region-to-region free trade agreement.
The EU was also looking for a strong statement from ASEAN describing the war in Ukraine as an act of aggression by Russia. The statement from ASEAN was similar to the agreement made by the G20 countries at the summit in Indonesia in November in that most of the ASEAN countries condemned the war.
The EU-ASEAN statement also reiterated the importance of peace in the contested South China Sea and expressed concerns about the ongoing coup by the military in Myanmar, as well as tensions in the Korean peninsula.
The $10.65 billion commitment by the EU to ASEAN would span the next five years through the EU’s Global Gateway strategy that was designed to counter China’s growing influence in the region. The EU countries are looking to diversify key supply chains away from China as the war in Ukraine has highlighted the continent’s vulnerable areas.
