Sanctions Land as Carney Calls It War and Trump Doubles Canadian Auto Tariffs

Washington unveiled its Iran sanctions package overnight, aimed at the trade partners keeping Tehran's economy afloat rather than the regime itself, per the Treasury statement. Tehran's foreign minister called it desperate within hours, which is not the same as calling it ineffective. This column read last week's tanker U-turns as shippers already rerouting around strait risk before Washington moved; sanctions this broad are the confirmation, not a new signal. The story with the sharper Asia read is Trump's tariff move: US auto duties on Canadian imports go to 50 percent, and Ontario's premier is already floating cutting electricity and critical minerals exports back at Washington. American commentary has largely ignored that retaliation tool on the assumption that Canada has no leverage. Carney told the FT Canada is "at war," a line this column flagged Saturday; today it has teeth. Elsewhere, CISA ordered emergency patching on an actively exploited Zimbra flaw, the fourth email platform emergency directive this year, and Shein priced its Hong Kong listing at roughly 27 billion dollars, a quarter of its 2021 peak. Watch whether Ontario actually curtails cross border power flows this week, the point where a threat becomes an energy security incident.