Opening
Yesterday, the United States announced without warning that it would impose comprehensive sanctions on the International Criminal Court (ICC), with Secretary of State Rubio stating bluntly, "We don't need that court." The move hits the international legal order relied upon by 125 member states. On the same day, Taiwan's President Lai Ching-te, in his National Day address, framed the increase in defense spending as "deterring war," prompting Beijing to immediately criticize the speech as "distorting facts." Tanker attacks in the Strait of Hormuz hit a new high, and oil prices surged to how much? We'll tell you in a moment.
Today's International Headlines
1. Lai Ching-te's National Day Address: Defense Budget Meant to "Deter War"
- What happened: President Lai Ching-te delivered his National Day address yesterday in front of the Presidential Office, titled "Taiwan's Future: A City on a Hill, Salt and Light for the World." According to Al Jazeera, he emphasized that the increase in defense spending is meant to "deter war" rather than provoke, and announced three cash payouts: an AI dividend of NT10,000, and a monthly national pension of NT$5,000. Beijing criticized the speech that same day as "distorting facts."
- Why it matters: This sets the policy tone for this year's National Day, with defense, cross-strait relations, and cash payouts all simultaneously shaping next year's budget and voters' pocketbooks. Beijing's response also signals that the underlying tone of cross-strait interactions remains unchanged.
- Taiwan's perspective: How the defense budget is allocated and when the cash payments land will directly shape how Taiwanese people experience daily life next year.
- Source: Al Jazeera (https://www.aljazeera.com/news/2026/10/10/taiwan-president-says-defence-spending-boost-aims-to-deter-war)
2. Tanker Attacks in the Strait of Hormuz Hit a New High, Oil Prices Surge
- What happened: According to CNBC, 10 tankers were attacked in the Strait of Hormuz in the week of September 28 to October 4, a new weekly high that far exceeds the previous record of 6. Brent crude surged more than 5% at one point before closing at 92.48. Last Tuesday, only 7 tankers passed through the strait, less than half the seven-day average and the lowest level since July 23, with that week's oil exports through the passage roughly 30% below pre-Iran-war levels.
- Why it matters: Tanker attacks in the Middle East are directly driving up global energy and shipping risk premiums, and Brent crude breaking above $105 is a key level to watch for whether conditions continue to deteriorate.
- Taiwan's perspective: Taiwan relies almost entirely on imports for crude oil and natural gas, much of which travels through this very passage, so rising oil prices and freight costs will ripple through to electricity bills and consumer prices.
- Source: CNBC (https://www.cnbc.com/2026/10/08/oil-prices-today-brent-wti-hormuz.html)
3. 7.7-Magnitude Quake off Panama's Coast, Canal Operations Remain Normal
- What happened: According to the U.S. Geological Survey (USGS), a magnitude 7.7 earthquake struck off the southern coast of Panama on the 10th, with a focal depth of 12.6 kilometers, centered near the rural community of La Pitaloza. The quake damaged homes across multiple provinces, cut power in 6 provinces, suspended flights at Tocumen International Airport, and triggered more than a dozen aftershocks. A tsunami warning issued earlier was lifted after the U.S. Tsunami Warning System confirmed "no further tsunami danger."
- Why it matters: A magnitude 7.7 quake is a major test for Central American infrastructure, though the lifted warning means the worst-case scenario has been ruled out.
- Taiwan's perspective: The Panama Canal is a key route for Taiwanese container ships heading to the U.S. East Coast and Latin America. The canal is currently operating normally (about 200 kilometers from the epicenter, with roughly 90 ships waiting to pass at both ends), but if a future strong quake were to disrupt it, export delivery schedules and freight rates would be immediately affected.
- Source: ABC News (Australia) (https://abc.net.au/news/2026-10-10/earthquake-panama-tsunami-warning/107250814)
4. U.S. Bars Microsoft, Adobe, and Others from Green Card Sponsorship Program
- What happened: According to TechCrunch, U.S. Vice President JD Vance announced on the 8th that Microsoft has been indefinitely suspended from participating in the Department of Labor's PERM permanent labor certification program. Labor Secretary Chavez-DeRemer also named Adobe along with six IT services firms: Cognizant, Infosys, TCS, Wipro, HCL, and Capgemini. The Department of Labor will no longer accept new PERM applications from these companies and will halt processing of pending cases. Existing H-1B status will not be revoked, but green card progress may be delayed. Vance pointed out that Microsoft laid off about 6,000 U.S. employees last year while obtaining 6,300 H-1B visas and nearly 3,000 green cards; Microsoft countered that about 80% of its H-1B applications involved extensions or status changes for existing employees.
- Why it matters: This marks the first time the U.S. government has excluded specific, named tech companies from the green card sponsorship system on a large scale, directly impacting foreign engineers who depend on H-1B and PERM.
- Taiwan's perspective: Taiwanese engineers working in the U.S. who happen to be employed at these companies will see their green card timelines stall, which in turn affects how semiconductor and AI talent plan their paths to the U.S.
- Source: TechCrunch (https://techcrunch.com/2026/10/08/us-bars-microsoft-adobe-and-major-it-firms-from-green-card-program-for-skilled-foreign-workers/)
5. U.S. Imposes Sweeping Sanctions on the International Criminal Court (ICC)
- What happened: According to France 24, U.S. Secretary of State Rubio announced on the 9th comprehensive sanctions against the International Criminal Court (ICC), cutting off the court's access to U.S. financial services, American tech companies, and the U.S. dollar, while giving American businesses and individuals with dealings with the court a six-month wind-down period. He stated: "We don't need that court, and we don't want it." The ICC condemned the sanctions as an attack on the rule of law, while the EU said it is prepared to take necessary measures to keep the court functioning.
- Why it matters: The ICC currently has 125 member states, including every EU country and all NATO members except the U.S. and Turkey. Being directly sanctioned by the U.S., the anchor of its own largest alliance system, is a major test for the current international legal order.
- Taiwan's perspective: This is a case of the international legal order being squeezed financially by a major power, serving as a warning sign for Taiwan, which similarly depends on rules rather than raw power.
- Source: France 24 (https://www.france24.com/en/live-news/20261009-us-sanctions-on-icc-a-test-of-resilience)
6. Nobel Peace Prize Awarded to South African Jurist Navi Pillay
- What happened: According to the official Nobel Committee press release, the 2026 Nobel Peace Prize was awarded on the 9th to South African jurist Navanethem Pillay, in recognition of her efforts to promote peace and international law. Committee Chair Jørgen Watne Frydnes said she "has, with extraordinary courage and integrity, paved the way toward a more complete global legal order." The 85-year-old Pillay, a former UN High Commissioner for Human Rights, was attending a forum in Nuremberg, Germany, when she learned of the award. She said she would dedicate the prize to all survivors of international crimes.
- Why it matters: The reasoning behind her award centers on international justice and the prosecution of war crimes, forming a striking contrast with the same week's news of U.S. sanctions against the ICC, underscoring how the international legal order is currently being pulled in opposing directions.
- Taiwan's perspective: Taiwan has long been excluded from the UN system, and how strong or weak this international legal framework is has a direct bearing on the standing of small states and non-member entities like Taiwan.
- Source: NobelPrize.org (https://www.nobelprize.org/prizes/peace/2026/press-release/)
7. One Year into the Gaza Ceasefire, Over 100 Organizations Call It "Dead in All but Name"
- What happened: According to a joint statement from more than 100 humanitarian and human rights organizations, including Amnesty International, the Gaza ceasefire agreement has now marked one year, during which more than 1,400 people have been killed by Israeli forces, including at least 327 children killed and 547 injured. The statement notes that nearly 2 million people still lack adequate shelter, no hospital is fully operational, 1.4 million people face crisis-level hunger, 82% of buildings have been damaged, 61 million tons of rubble has accumulated, and reconstruction has yet to begin. Signatory organizations include Amnesty International, the Norwegian Refugee Council, Save the Children, and Oxfam, and the statement notes that the area under Israeli control has expanded from roughly 53% to 63% of Gaza.
- Why it matters: This report provides a firsthand account of what has actually happened since the ceasefire agreement was signed, revealing a substantial gap compared to the commitments originally made by all parties.
- Taiwan's perspective: For any discussion that treats a peace agreement as an endpoint, this serves as a ready-made counterexample, showing that a ceasefire on paper is not the same as peace on the ground.
- Source: Amnesty International (https://www.amnesty.org/en/latest/news/2026/10/gaza-ceasefire-exists-in-name-only-say-more-than-100-organizations/)
Closing
The most important takeaway today is that the international legal order is being pulled from both ends: on one side, the Nobel Peace Prize honors Pillay's lifelong work prosecuting war crimes; on the other, the United States has turned around and imposed comprehensive sanctions on the International Criminal Court. In the days ahead, keep an eye on whether tanker traffic through the Strait of Hormuz continues to decline, and how the queue of ships waiting at the Panama Canal develops. I'm Muyan, see you tomorrow.



























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