WSJ What’s News – PM Edition

Episode Title: Trump Was Told Attack on Iran Wouldn’t Guarantee Collapse of Regime
Date: January 15, 2026
Host: Alex Osola (The Wall Street Journal)
Key Guests: Alex Ward (National Security Reporter), Ken Thomas (National Political Reporter), Ryan December (Commodities Reporter)

Episode Overview

This episode covers several of the day's top stories, centering on President Trump’s deliberations regarding a potential military strike against Iran following a government crackdown on protests. The show also touches on Trump’s threat to invoke the Insurrection Act in Minnesota, new innovations in U.S. copper mining, key business and market updates, and the ongoing basketball game rigging scandal.

Main Theme: U.S.-Iran Tensions and Policy Decisions

• Trump Administration Weighs Options in Iran
  • President Trump has been considering a military strike on Iran after the government’s intense crackdown on demonstrators.
  • Both U.S. and Middle Eastern officials advise the White House that a large-scale strike likely won’t result in a regime collapse and could risk regional escalation.

Notable Insight

• Alex Ward [01:34]:
  “Countries in the region are concerned about this moving forward because they don’t want to see a lot of volatility in their region. Trump seems to be signaling that as long as the crackdown on protesters doesn’t go forward, he’s good.”

• White House Press Secretary Caroline Levitt confirmed that military action remains an option, with a warning to Iran that continued violence would have “grave consequences” [02:29].

  • Quote: “Only President Trump knows what he’s going to do.” — Caroline Levitt [02:36].

• The administration is reportedly considering moving the USS Abraham Lincoln aircraft carrier from the South China Sea to the Middle East as a show of force [02:36].

Segment Breakdown & Detailed Insights

1. U.S.-Iran Showdown: Risks and Calculations

• Iran’s crackdown has stifled demonstrations but activists say the apparent calm is likely short-lived [02:55].
• U.S. Seizure of Oil Tankers: Sixth vessel seized as part of Trump’s campaign against Iran’s “dark fleet” of sanctioned oil shipments [03:20].

Memorable Context

• Historical Context on Trump’s Approach
  • Reference to last June, when Trump initially opened to diplomacy with Iran before launching a strike regardless.
  • Speculation that Trump may be stalling:

    “It’s possible that Trump is stalling for time because there are certain amounts of military assets that he would like to see in the region... that could, if he were to order it, lead to a much broader scale attack on Iran and help the U.S. protect not only troops in the region, but also allies like Israel.” — Alex Ward [01:49]

2. Trump’s Insurrection Act Threat in Minnesota [03:37]

• Trump threatens to use the Insurrection Act in response to unrest in Minnesota if local officials don’t quell protests against ICE.

  • Historical Rare Use:
    • Last invoked in 1992 during LA riots; before that, during the 1960s civil rights unrest.
    • “It’s a law from 1807 that allows the president to use the military for civilian law enforcement purposes on US soil under a narrow set of circumstances.” — Ken Thomas [03:41]
  • Legal experts anticipate serious legal challenges if invoked, citing that “legal opponents would make the case that this is constituting an abuse of power or a bad faith effort to try to suppress dissent for political reasons, not to try to enforce federal law...” — Ken Thomas [04:44]

• Governor Tim Walz makes a public appeal to de-escalate tensions, urging peaceful protest [05:13].

3. White House Unveils Health Care Framework [05:20]

• New plan, the “Great Health Care Plan”, aims to formalize Trump’s executive actions—like lowering prescription drug prices—but faces uncertain prospects in Congress.

4. Market and Business News [05:42–06:51]

• Robust earnings from Goldman Sachs, Morgan Stanley, and TSMC buoy markets; BlackRock assets reach $14 trillion.
• Dow Jones finishes up 0.6%.

5. Arizona Copper Mine and the Data Center Boom [06:51]

Guest: Ryan December

• Amazon contracts with a new Arizona copper mine—the first major customer for this decade’s only new source of U.S. copper—driven by demand from AI data centers.

Copper Market Drivers [07:15]:

• Electrification (EVs, appliances in developing world), grid upgrades, and surging data center construction (AI boom) are fueling a “tremendous appetite for copper.”
  • “These data centers are basically giant buildings filled with copper. Every wire, circuit board, component has copper in it to move the electrons around.” — Ryan December [07:35]

Impact of U.S. Trade Policy [08:01]:

• Trump has imposed a 50% import tax on copper products, increasing costs and pressuring domestic production.

New Mining Technology [08:36]:

• Rio Tinto is piloting a process using bacteria in acid to extract copper—making high-grade copper cathodes directly usable by industry.
  • “If Rio’s successful, it’s the sort of technology that they can take to a lot of other mines… to make copper out of stuff that was essentially wasted.” — Ryan December [09:06]

6. Quick News Headlines [09:36–11:04]

• Vail Resorts sees 20% drop in skier visits due to scant western snowfall, but strong east coast numbers partly offset losses.
• Verizon outage attributed to a software update; $20 credit offered to affected customers.
• Spotify announces US premium subscription price hike to $12.99/month.

7. Expanding Basketball Game Rigging Scandal [11:04]

• Federal charges now allege match manipulation involving 39 players across 17 Division 1 college teams in 2024-25, plus expansion to games in China.
  • Tied to investigation that already led to NBA coach and player indictments.
  • “One of the most sprawling gambling cases in the history of American sports.” — Alex Osola [11:15]

Noteworthy Quotes by Segment (with Timestamps)

• “There’s also a chance that this is a delay tactic. And there’s also a chance that he’s good now, but if Iran continues his crackdown, he’s not good later.”
  — Alex Ward [00:21]

• White House stance: “Only President Trump knows what he’s going to do.”
  — Caroline Levitt [02:36]

• On copper’s importance for AI: “These data centers are basically giant buildings filled with copper. Every wire, circuit board, component has copper in it.”
  — Ryan December [07:36]

• On Insurrection Act: “I think you would see opponents argue that he is fabricating an insurrection when it doesn’t exist.”
  — Ken Thomas [04:37]

Important Timestamps

• 00:18–01:34 Trump-Iran strike deliberations and regional impact
• 01:34–02:23 Alex Ward analysis on U.S. military posturing and strategy
• 03:37–05:12 Ken Thomas on Trump’s Insurrection Act threat and precedent
• 06:51–09:31 Ryan December on copper mining innovations and implications
• 09:36–11:04 Rapid-fire news updates (Vail, Verizon, Spotify pricing)
• 11:04–11:30 Basketball game rigging scandal expansion

Summary Takeaways

• The Trump administration is treading carefully on Iran, weighing military options against the risk of regional instability and escalation.
• Use of the Insurrection Act is discussed as a rare and controversial step, with potential legal complications and historical context provided.
• Innovations in U.S. copper production, driven by demand from tech giants like Amazon and trade policy changes, reflect the critical intersection of commodities and technology.
• The episode concludes with lively news bites on markets, disruptions, consumer pricing, and a landmark sports scandal—offering listeners insight into how political, technological, and cultural developments intersect in real time.