The Globalist – February 26, 2026
Episode Title: "Carney in India and the Next Round of US-Iran Talks"
Episode Overview
On this episode of The Globalist, host Emma Nelson guides listeners through a dynamic hour, focusing on two major international stories:
- Canadian Prime Minister Mark Carney’s high-stakes diplomatic overture to India, hoping to reset tense relations and diversify away from US dependence.
- A critical new round of US-Iran nuclear talks amidst intensifying rhetoric, military deployments, and shifting global alliances.
Alongside these main stories, the episode features segments on technology (Samsung’s Galaxy S26 launch), business and diplomatic news (with deep dives into kleptocracy, automotive industry updates, and more), and a review of global newspaper headlines.
Main Segment 1: Resetting Canada–India Relations
Guests:
- Paul Waldie (Globe and Mail, Europe Correspondent)
- Maya Sharma (Journalist, Bangalore)
Background & Main Theme
- Mark Carney, Canada’s new PM, visits India to mend a relationship fractured under Justin Trudeau, whose government accused India of involvement in the 2024 murder of Sikh activist Hardeep Singh Nijar on Canadian soil.
- Both sides are now cautiously seeking a trade reset and improved diplomatic terms amidst global uncertainty and shifting US relationships.
Key Discussion Points & Insights
- Severity of past rift:
- Paul Waldie [03:40]: “About as bad as you can get... Trudeau... accused the Indian government of participating in the murder... That led to a flurry of diplomatic ousters... There were further allegations of India conducting a campaign of violence and intimidation against Sikhs in Canada. So, the relationship was really, really bad.”
- Canadian desperation for a reset:
- Paul Waldie [04:36]: “There’s real desperation on the Canadian side here. They need India a lot more than I think India needs Canada... for trade reasons and for Trump reasons and everything else.”
- Mutual interest, but asymmetry:
- Maya Sharma [04:43]: “Canada does definitely want access to India’s huge market... But also India in its turn is also perhaps relying a little bit less on the United States.”
- Agreement that even if trade deals don’t materialize, the symbolism of the visit is significant.
- Power balance & optics:
- Canada is the only G7 nation without a trade deal with India, feeling left out as India deepens relationships with the EU, UK, and others.
- US Relations as a Motivator:
- Emma Nelson [07:05]: “Mark Carney has stated that reliance on the United States must diminish... the relationship between the leaders of the two countries at the moment is parlous.”
- India’s complex ties with Trump:
- Maya Sharma [07:44]: “It was indeed rather an embarrassing time for India... hit with 25% tariffs due to continued Russian oil imports... Opposition in India has said that India has been very weak when it came to the trade deal... almost finalized.”
- Modi’s close rapport with Trump has not shielded India from tariffs or criticism.
- Visit considered a win for Carney, giving him a chance to seize momentum on the “middle powers” strategy he touted at Davos.
Notable Quotes
- Paul Waldie [09:47]: “Canada has an awful long way to go in terms of this diversification that Carney’s talking about. When you consider that 70% of Canada’s trade is with one country, the U.S...this is going to take a very, very long time.”
- Maya Sharma [11:50]: On Modi’s visit to Israel: “Benjamin Netanyahu went on to talk about Modi’s hug... Prime Minister Modi tends to greet other world leaders with a great big hug... the symbolism has caused some problems with the opposition about Israel’s actions in Gaza.”
Main Segment 2: US–Iran Talks Amid Worsening Tensions
Guest:
- Garana Grgic (Monocle Security Correspondent)
Key Discussion Points
- Backdrop of high tension:
- US military deployments intensify after Trump’s State of the Union doubles down on hawkish rhetoric toward Iran.
- Iran sends mixed signals: alternating between cautious optimism and warnings of retaliation.
- Negotiations are seen as potentially a last-ditch effort to avoid escalation.
- Blurry negotiation goals:
- Garana Grgic [14:39]: “I would say there is so much noise... From Iran we’ve heard different voices, their leaders publicly alternating between rejection and cautious optimism.”
- Expanded agenda:
- Discussions now encompass not only nuclear enrichment but also ballistic missiles, proxies in the region, and Iran’s internal protests.
- The challenge: “What is it the US would accept as a concession?” — complete clarity is lacking.
- Trump’s “madman” unpredictability:
- Grgic [19:32]: “With Trump 2.0, a lot comes down to what President Trump decides, not as a product of some sort of interagency deliberation... This can be a deterrent but it’s also playing with fire because these decisions can trigger spirals that are hard to control.”
Notable Quotes
- Emma Nelson [18:45]: “There was a repetition of rather vague claims about the Iranians... That was also coupled with the suggestion that the president rather likes the amount of power his military can exert over the rest of the world.”
- Garana Grgic [19:32]: “If you follow the madman theory... it can be a deterrent... but also it’s playing with fire.”
Other Global News Highlights
Cuba–US Tensions
- Recent deadly confrontation in Cuban waters between the Coast Guard and Cubans living in the US; context of greater economic and political strain after US intervention in Venezuela.
- Inga Thordar [23:17]: “It’s not just like a border incident... It is really happening against the backdrop of the island’s worst economic crisis in years...”
North Korea
- Kim Jong Un signals willingness for improved relations with the US if Washington recognizes its nuclear status.
Epstein Files & US Politics
- Missing memos in DOJ-released Epstein documents reignite scrutiny of Trump and the Clintons’ testimonies.
- Inga Thordar [26:10]: “It’s likely to be a blockbuster appearance by the Clintons... what could come out of this is the systemic failure of the whole system.”
Feature: Trump, Kleptocracy, and Global Corruption
Guest:
- Prof. Daniel Nexon (Georgetown University)
Key Points
- Kleptocracy under Trump:
- [30:40]: “Trump’s main diplomatic envoy... negotiated a side deal in the UAE... $2 billion in stablecoin... All deny wrongdoing, but it’s hard to escape the conclusion this was a complicated deal that enriched the Trumps... at the cost of US security interests in restricting the transfer of technology.”
- National security risk:
- US leadership sells out national security for private gain (ex: relaxed semiconductor restrictions for personal financial benefit).
- Fusion of kleptocracy & far-right politics:
- Authoritarian tendencies reinforce corruption, while personal enrichment networks cross borders and fund reactionary populism globally.
- Social platforms as amplifiers:
- [37:50]: “Social media platforms, particularly X... being used now by Elon Musk to format far right views in not just the United States, but also in Europe.”
Technology: Samsung Galaxy S26 Launch
Guest:
- David Phelan (Monocle Tech Correspondent, San Francisco)
Key Takeaways
- Hardware:
- Galaxy S26, S26 Plus, S26 Ultra, updated design, faster charging, improved cameras.
- Big innovation:
- David Phelan [47:48]: “Privacy Display... one of the most striking innovations... You can turn on/off screen privacy with a touch; works automatically with banking apps, limiting side angle viewing. No other phone has this.”
- AI Emphasis:
- “Agentic AI” allows the phone to act as a digital agent across apps (move away from just app-based functions).
- Privacy edge:
- Phelan [49:34]: “The fact that you can do this [on-demand privacy], only when you need it, certainly could give Samsung an edge.”
- New user features:
- AI call screening and hold assistant; small but genuinely useful upgrades.
Global Business & Culture
Automotive News with Hans Grimmel
- Epstein–Ghosn curiosity:
- Newly released Epstein files show his odd interest in Nissan exec Carlos Ghosn, including contact with Ghosn’s US lawyer.
- Aston Martin job cuts:
- Iconic brand to cut 20% of workforce amid US tariffs, debts, and a tech shift in China.
- Subaru ambitions:
- Subaru aims to boost global sales to offset US tariffs and expand electric/off-road range.
- Strategic shift:
- Other Japanese automakers (e.g., Mazda) also seeking market diversification away from volatile US import duties.
The Latest Monocle Magazine
Guests:
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Julia Jen (Monocle writer)
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Josh Fennett (Editor)
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Highlights:
- “100 Favourite Things” lists, blending high and low culture; features on embassies, urban craft, makers, military tech, and Europe’s tactile switch culture.
- Emphasis on keeping craft alive in European cities (e.g., Como’s silk makers).
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Wisdom on urban craft:
- Julia Jen [55:45]: “It’s great to see people keeping their craft alive despite the odds, especially in Europe...”
- Marie Macon (quoted via Julia Jen) [58:59]: “You can choose a badge... to project your mood with the badges that you choose at the beginning of the day. So you can begin with something comfortable and recognisable... or... something more provocative, which will become part of your armor for the day ahead.”
Timestamps for Key Segments
- Canada–India relations: 03:34–13:35
- US–Iran talks: 13:35–20:42
- News headlines/Cuba & Epstein: 22:11–27:33
- Trump, kleptocracy & global corruption: 30:40–38:01
- Automotive/Business: 38:33–44:45
- Samsung Galaxy S26 launch: 45:45–52:46
- Monocle magazine ‘100 Favourite Things’: 53:26–58:59
Notable Quotes
- “Canada is desperate to get a piece of that and to diversify itself away from its over reliance on the US.”
– Paul Waldie [06:16] - “President Trump has been shifting these timelines and deadlines... a lot of this depends on US force posture and changes that we are seeing.”
– Garana Grgic [16:37] - “It’s pretty clear... this was a complicated deal that enriched the Trumps... and at the cost of US Security interests.”
– Prof. Daniel Nexon [31:54] - “Privacy Display is one of the most striking innovations I’ve seen from any phone manufacturer in recent years.”
– David Phelan [47:48]
Episode Tone & Style
The conversation is brisk, analytical, and pragmatic, characteristic of Monocle’s editorial style. The hosts and correspondents maintain a global, cosmopolitan perspective, with dry humor and occasional wry observations.