TACO, Tankers and Tensions
From Trump’s shifting Iran red lines to missile strikes and rising fuel costs in Asia, the war’s mixed signals are fuelling global uncertainty - and hitting wallets far from the frontlines
Watch the video above — this is one you don’t want to miss.
Recorded midday in Manila, where officials - like across much of Southeast Asia - are scrambling to contain the shock of surging fuel prices, I break down the headlines driving real-world impact right now.
But the real story? A sudden shift in Washington.
After threatening to “obliterate” Iran’s power plants, Donald Trump appears to have stepped back - a move that’s raising serious questions about resolve, signalling, and what comes next.
Which brings us to TACO.
To understand where the term comes from - and why it’s suddenly everywhere - I take you inside the Foreign Correspondents’ Club of Thailand, and to the authoritative voice of the Financial Times’ Victor Mallet.
👉 Watch now - before the next escalation. Don’t miss what others are only catching up on - upgrade now to a paid subscription!
President Trump said Monday that the United States and Iran were negotiating a “total resolution of our hostilities in the Middle East,” and that he would postpone any American attacks on Iranian power plants by five days. Iran, at least publicly, rejected any progress in ending the U.S.-Israeli war on the country, now in its fourth week. American, Israeli and Iranian officials have frequently given clashing statements throughout the war as they seek to advance their competing agendas and motives. Mr. Trump himself has often issued contradictory pronouncements about his plans for the next steps in the conflict, sometimes on the same day. On Saturday, Mr. Trump had threatened to bomb Iran’s power plants after 48 hours unless Iran agreed to fully reopen the Strait of Hormuz, a critical oil shipping route in the Persian Gulf. Iran’s foreign ministry suggested there were no talks with the United States although it noted that there had been “regional initiatives” aimed at reducing tensions. The ministry argued Mr. Trump’s statements were part of an effort “to reduce energy prices and to buy time for implementing his military plans,” according to Iran’s Mizan news agency. Analysts and officials say there is no clear offramp for the American-Israeli air war with Iran, which began on Feb 28. and has ignited a wider regional conflict. Despite Mr. Trump’s calls for the ouster of the Islamic Republic and his vow to help Iranians overthrow their leaders, the Iranian government remains in place, as is much of its nuclear program. The foreign minister of Oman, which has frequently mediated between the United States and Iran, said on social media shortly before Mr. Trump’s announcement that Oman was working to establish “safe passage arrangements for the Strait of Hormuz.” “Whatever your view of Iran, this war is not of their making,” the minister, Badr al-Busaidi, said. “This is already causing widespread economic problems and I fear they promise to get much worse if the war continues.” - NYT
Prime Minister Keir Starmer of Britain told senior lawmakers that his government was aware of talks between the U.S. and Iran and that the priority was to achieve “a negotiated agreement which puts tight conditions on Iran particularly in relation to nuclear weapons.” While Starmer said he hoped for a swift end to hostilities, he added that, in terms of the potential economic impact, he had “to plan on the basis there may not be.” - NYT
An American-operated Patriot air defense battery likely fired the interceptor missile involved in a pre-dawn explosion that injured dozens of civilians and tore through homes in U.S.-ally Bahrain 10 days into the war on Iran, according to an analysis by academic researchers examined by Reuters. Both Bahrain and Washington have blamed an Iranian drone attack for the March 9 blast, which the Gulf kingdom said injured 32 people including children, some seriously. Commenting on the day of the attack, U.S. Central Command said on X that an Iranian drone struck a residential neighbourhood in Bahrain. In response to questions from Reuters, Bahrain on Saturday acknowledged for the first time that a Patriot missile was involved in the explosion over the Mahazza neighborhood on Sitra island, offshore from the capital Manama and also home to an oil refinery. In the statement, a Bahraini government spokesperson said the missile successfully intercepted an Iranian drone mid-air, saving lives. “The damage and injuries sustained were not a result of a direct impact to the ground of either the Patriot interceptor or the Iranian drone,” the spokesperson said. Neither Bahrain or Washington has provided evidence that an Iranian drone was involved in the Mahazza incident. The use of costly, advanced weaponry to defend against attacks by far cheaper drones has been a defining feature of the war. The incident points to the risks and limitations of this strategy: The blast from the powerful Patriot, whether or not it intercepted a drone, contributed to widespread damage and casualties, while Bahrain’s air defenses were unable to prevent strikes that night on the nearby oil refinery, which declared force majeure hours later. When asked for comment, the Pentagon referred Reuters to Central Command, which did not immediately reply to questions - Reuters
Lebanese President Joseph Aoun on Sunday slammed Israeli strikes on bridges and other infrastructure in the country’s south, calling such attacks a “prelude to a ground invasion.” Aoun “condemned Israel’s targeting and destruction of infrastructure and vital facilities in southern Lebanon, particularly the Qasmiyeh bridge over the Litani River and other bridges,” a presidency statement said. “These attacks represent a dangerous escalation and flagrant violation of Lebanon’s sovereignty, and are considered a prelude to a ground invasion,” Aoun said. Israel earlier said it struck Hezbollah targets in south Lebanon shortly after the military was ordered to destroy bridges used by the Iran-backed militant group across the Litani River. Lebanese official media reported Israeli raids in several areas of the south, while smoke was seen billowing from a key bridge that was hit outside the city of Tyre, in an escalation in violence in Lebanon after two days of relative reprieve. Lebanon was pulled into the Middle East war when Hezbollah began firing rockets into Israel on March 2 to avenge the killing of Iran’s supreme leader Ali Khamenei in Israeli-US attacks. Israel has sent troops into Lebanon and carried out extensive airstrikes in the country, while Hezbollah has kept up rocket barrages.Israel’s military said it began “a wide wave of strikes” against Hezbollah infrastructure in southern Lebanon - Al Arabiya
Extremist Jewish settlers have carried out a spate of attacks on Palestinian villages in the occupied West Bank, setting fire to homes, vehicles and agricultural fields. The violence began after a teenage settler - 18-year-old Yehuda Sherman - was killed on Saturday, after reportedly being hit by a vehicle driven by a Palestinian while on his quad bike. Police said they were investigating whether the hit was deliberate or accidental. In response, WhatsApp groups used by settlers called for a “revenge campaign” over his death. More than 20 settler attacks were reported overnight, according to a defence official cited by Israeli media. The Palestinian Red Crescent Society said at least three Palestinians suffered head wounds and were taken to hospital after confronting the attackers in Jalud, some of whom were also reportedly injured. Settler violence has surged since the US and Israel attacked Iran, with six Palestinians killed by settlers since 1 March, according to the United Nations (UN). - BBC
An Air Canada jet travelling from Montreal to New York City’s LaGuardia Airport Sunday night crashed into a fire truck after landing on a runway, killing the flight’s two pilots and injuring dozens of passengers. U.S. authorities say all 72 passengers and four crew members present on the flight have been accounted for, and 41 people were taken to two hospitals in Queens after the crash, with nine still in care as of Monday morning, some in serious condition. Airport officials said the fire truck was responding to a separate incident related to an aborted takeoff of a United Airlines flight. The New York Post reported that a female flight attendant survived after being ejected through the front of the aircraft while still in her seat during the crash. Sources told the newspaper that police from the Port Authority helped rescue her, and she was brought to hospital. The Transportation Safety Board of Canada (TSB) announced Monday that it is sending a team of investigators to New York City to support its U.S. counterpart, the National Transportation Safety Board (NTSB), in its investigation of the deadly crash - CTV News
Lawmakers in the Philippines House of Representatives are set to conduct hearings for evidence and witnesses related to the two impeachment complaints against Vice President Sara Duterte over her alleged misappropriation of public funds and threats against high-ranking officials. The proceedings against Duterte could eventually lead to a formal plenary vote and a Senate trial. She is the daughter of former president Rodrigo Duterte, who was arrested in 2025 and transferred to the International Criminal Court in The Hague for alleged crimes against humanity related to the Philippines drug war.
Slovenian Prime Minister Robert Golob’s liberals won Sunday’s national election by a narrow margin over former right-wing populist leader Janez Janša. “We are moving forward and that is what counts the most,” Golob told his supporters after the tense ballot count. “In the next term we will do everything to make the future better for all citizens.” The results showed Golob’s governing Freedom Movement party securing 28.6 percent of the vote, good for 29 seats in the country’s 90-seat chamber, just ahead of Janša’s conservative Slovenian Democratic Party (SDS) on 28 percent, equaling 28 seats. It’s a substantial step back for Golob’s party, which won 41 seats in the last election in 2022. The Slovenian vote had been seen as a mood-check of the bloc’s electorate, with the EU tilting right since the 2024 European Parliament elections gave a boost to right-wing populist parties. A nationalist-populist government took power in the Czech Republic last year, adding to a pro-Moscow bloc that includes Slovakia and Hungary. Meanwhile, the far-right RN leads polling in France ahead of key 2027 presidential elections, and the far-right AfD is challenging Chancellor Friedrich Merz’s conservatives for the national lead in Germany. The Slovenian election result, a virtual tie, means the next government will emerge from coalition talks among the seven parties that qualified for seats in the legislature. If Janša, who has expressed admiration for U.S. President Donald Trump, were to lead the country again, it would give Hungarian Prime Minister Viktor Orbán another ally in the European Council - Politico
Qatar Airways is relocating part of its massive fleet to Teruel Airport in eastern Spain. The Doha-based carrier said the move came as regional instability and airspace closures continue to disrupt operations across the Middle East. Flight tracking data suggests around 20 aircraft are now being placed into long-term storage, with more jets expected to arrive. The move has been described as a “strategic retreat amid regional conflict,” with the airline running only a “skeleton service” since mid-March. However, Emirates, whose hub airport is Dubai, is now restarting some flights from the UK; the full schedule is not yet clear. The airline has warned it will carry on “a reduced flight schedule” following the closure of the United Arab Emirates airspace after a series of drone attacks by Iran. Several other major airlines, including British Airways, have cancelled all flights into Dubai, with the airline continuing to cancel flights to Abu Dhabi, Amman, Bahrain, Doha and Tel Aviv. However, choosing to carry on Dubai routes, Emirates issued an update on its website. The statement reads: “Following the partial reopening of regional airspace, Emirates is operating a reduced flight schedule - Express
In her newest hustle, Meghan, Duchess of Sussex, is flying to Australia for a “fireside chat” with a podcaster who is filled with admiration for what she has “endured”, a business model more Fergie than Gwyneth. Let’s back up a step first: the Meghan business model, such as it is, aspired to be Gwyneth Paltrow with jam, a dash of Amal Clooney and a faint suggestion of Mother Teresa. Tickets for the three-day women-only event, billed as the “ultimate girls’ weekend”, cost from $1,850 to $2,250 and the line-up is so exciting that O’Neill only gets round to Meghan four minutes into her 15-minute announcement — after promising us manifestation, meditation and women’s psychology, a D.J., a disco and drinks by the pool, and explaining quite how stunning the brand-new InterContinental Sydney Coogee Beach is, conveniently located, as it is, on Coogee Beach. Still, Meghan’s used to being sixth on the call sheet. The retreat promises yoga and sound healing, and a gala dinner at which MDoS will give a speech, a prospect for which sound healing could have been invented. You will get to be in a group photo with her, and listen to a “raw, honest fireside chat” in which they will “share stories, have fun, find the joy we always talk about and create meaningful connection” - Air Mail
The journals…..
