US Widens Iran Sanctions as Canada Trade War Turns Real

Washington opened Operation Economic Outcast overnight, a sanctions push targeting the trading networks that keep Tehran's economy funded rather than the regime directly, per Treasury's own framing. Hours later Canada confirmed retaliatory tariffs of up to 50 percent on US goods, matching Trump's levy dollar for dollar. This column called the Canada fight rhetorical on Friday; the retaliatory tariff filing makes it a balance-sheet event, not a talking point. Separately, Iran and Oman are edging toward a deal on managing traffic through the Strait of Hormuz, the chokepoint that carries roughly a fifth of global oil flow, and that negotiation matters more to an HK trading desk than either sanctions program because it prices insurance on tankers your bank finances. A Norwegian government digital service went down under a large DDoS attack overnight. A Singapore MAS cyber examiner will map the attack against critical-infrastructure exposure at home. Foot Locker's owner flagged weakening US consumer spending, a read-through for any asset manager still pricing US retail exposure at pre-tariff multiples. A West African cybercrime network dismantled across multiple jurisdictions overnight is worth a compliance desk's five minutes, not more. Watch whether the Hormuz framework gets paper by Friday.