US weighs tough response to Iran

Reuters Daily Briefing <dailybriefing@thomsonreuters.com>
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2026-01-12 13:02

Daily Briefing

By Claire Beers

The US weighs a tough response to Iran's crackdown, Trump's team ramps up attack on Fed's Powell with criminal indictment threat, and meet Li Chenggang, who leads China’s trade talks with the US.

Plus, "One Battle After Another" and "Hamnet" claimed the top prizes at Hollywood's Golden Globes.

Today's Top News

Smoke rises as protesters gather amid evolving anti-government unrest in Mashhad, Razavi Khorasan province, Iran. Social media/via REUTERS

President Donald Trump said the US may meet Iranian officials and was in contact with the opposition, as he weighed a range of strong responses, including military options, to a violent crackdown on Iranian protests. Trump said he will also talk to Elon Musk about restoring the internet in Iran.
Trump's administration has ramped up its pressure campaign on the Federal Reserve, threatening to indict Chair Jerome Powell, an action Powell called a "pretext" to gain more influence over interest rates. The Reuters World News podcast speaks to Federal Reserve correspondent Howard Schneider for the latest.
The US Department of Homeland Security is sending "hundreds" more officers to Minnesota after tens of thousands of people marched through Minneapolis to protest the fatal shooting of Renee Nicole Good by an ICE agent.
Britain said discussions with other NATO members on deterring Russian activity in the Arctic were "business as usual", after media reports that the UK was in talks with its European allies about deploying a military force to Greenland.
More than 1,000 apartment buildings in the Ukrainian capital Kyiv are still without heating three days after a devastating Russian attack.
A landmark case accusing Myanmar of committing genocide against the Muslim Rohingya minority opened at the United Nations' top court. It is the first genocide case the International Court of Justice will hear in full in more than a decade.
Hong Kong's High Court began hearing the mitigation plea of pro-democracy tycoon Jimmy Lai, the final step before sentencing in a landmark national security trial that has drawn international condemnation and could see Lai jailed for life.

Business & Markets

Trump and Powell tour the Federal Reserve Board building in Washington, D.C. REUTERS/Kent Nishimura

A US Justice Department investigation at the Federal Reserve sharply raised the stakes in a long-running dispute that has put the independence of the world's most powerful central bank openly on the line, investors said.
Gold broke through $4,600/ounce for the first time, while silver also hit a record high, as investors snapped up safe-haven assets amid heightened geopolitical uncertainties and a criminal probe into Powell.
Oil prices dipped after Iran said it had "total control" following weekend violence, easing some concerns over supply from the OPEC producer, while investors also weighed efforts to resume oil exports from Venezuela.
Trump said he might block Exxon Mobil from investing in Venezuela after the oil major's CEO called the country "uninvestable" during a White House meeting last week.
India and the US will discuss trade issues in their next call, Washington's newly-appointed ambassador to New Delhi, Sergio Gor, said at a time when failure to secure a trade deal has roiled their ties and pushed the rupee to a record low.
Global smartphone shipments increased by 2% year-on-year in 2025, driven by stronger demand and economic momentum in emerging markets. Apple led the market with a 20% share, the largest among the top five brands.

'Unhinged' or savvy? Meet Li Chenggang, who leads China’s trade talks with the US

Chinese trade negotiator Li Chenggang attends a press conference on the day of US-China talks in Madrid, Spain, September 15, 2025. REUTERS/Louiza Vradi

When US Treasury Secretary Scott Bessent described China's lead trade negotiator Li Chenggang as "unhinged" for breaching diplomatic niceties shortly before a critical summit in October, he painted a picture of an erratic junior bureaucrat who had "gone rogue."

Neither a “wolf warrior” nor a wallflower, Li is a chain-smoking, porcelain-collecting career diplomat with an encyclopedic knowledge of trade law and excellent English who alternates between charm and delivering Beijing's tough messages, sources say.

Read more

And Finally...

Joe Alwyn, Noah Jupe, Chloe Zhao, Jessie Buckley, Paul Mescal, and Jacobi Jupe pose with the Best Motion Picture - Drama award for "Hamnet". REUTERS/Mario Anzuoni

Dark comedy "One Battle After Another" and "Hamnet," a story about William Shakespeare's grief over the death of his son, claimed the top prizes on Sunday at the Golden Globes, one of the first major ceremonies in Hollywood's annual awards season.

Timothee Chalamet triumphed in one of the most competitive categories, taking the trophy for best male actor in a movie musical or comedy for his role as a professional table tennis player in "Marty Supreme."

Read more

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