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   The World: Will Trump TACO on Iran?
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   Plus, the largest ever release of oil reserves.
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             March 12, 2026
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              By
              <a class="css-nanfcg" style="-webkit-text-decoration:underline;text-decoration:underline;-webkit-text-decoration:none;text-decoration:none;border-bottom:1px solid #ccc;color:inherit">
               Katrin Bennhold
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         <span style="font-weight:700">
          Good morning, world.
         </span>
         <span>
          TACO — short for Trump Always Chickens Out — became a term among investors last spring. They’d noticed a pattern: the president’s habit of walking back his most dramatic policies when the stock market blowback became too intense.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          He did that with tariffs, backtracking on some of his most extreme positions. He seemed on the brink of invading Greenland until suddenly he wasn’t. And this week, as oil prices soared and the S&amp;P 500 dropped, Trump signaled he might do something similar in Iran.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          But can Trump retreat on Iran as easily as he did with tariffs or Greenland? Today I write about why that might be very difficult.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Also:
         </span>
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              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                The largest ever release of oil reserves
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                What Starmer knew about Mandelson
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                American theater in London
               </span>
              </li>
             </ul>
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             <img alt="Trump in a suit and purple tie looks up.  A US flag flies behind him. " class="css-xsf469" height="624" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F03%252F12%252Fmultimedia%252F12int-theworld-iran-plgh%252F12int-theworld-iran-plgh-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzMyOTM2ODkuOTgxMTZ9:1w0Yh7:y09vm984AcOvgrCgdI15xJou-M45U9gOf5eQAVoLN84" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
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             <span class="css-1hnedf7" style="color:#666;font:normal 12px georgia,serif">
              President Trump and his aides have given conflicting indications on how long the U.S. intends the war to last.
             </span>
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:5px">
              Al Drago for The New York Times
             </span>
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        <h2 style="color:#000;font:700 24px/31px nyt-cheltenham,georgia,serif;margin:0 0 10px">
         <span>
          Could Trump reverse course on Iran?
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          No one can say for sure what President Trump will do in Iran in the coming days and weeks. But we’ve seen some signs that he might be looking for a way out.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The war is “very complete, pretty much,” Trump told CBS News on Monday. Later that day he suggested the war would end
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          “soon, very soon.”
         </a>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          That might be because things have gotten messier than he anticipated. The war has effectively closed down the Strait of Hormuz, a crucial shipping lane carrying
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          roughly 20 percent
         </a>
         <span>
          of the world’s oil. Iran is targeting energy infrastructure in the Gulf, and analysts have issued alarming warnings about a pending fertilizer shortage. By Monday morning, the U.S. stock market had dropped and oil prices had surged to nearly $120.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          But by Tuesday morning, anyone betting on a
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          TACO trade
         </a>
         <span>
          seemed vindicated: After Trump hinted at an expedited end to the war, stock markets rallied and the price of crude fell.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          For Trump, the economic and political costs of the war are rising. It’s also a crucial election year. Judging by his past actions, now might be the time to again bet that the president will find a way to declare victory and walk away.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          But an actual war is different than tariffs, or even the threat of war. Nearly two weeks of fighting create facts on the ground that make walking away from Iran a more complicated prospect.
         </span>
        </p>
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             <img alt="People in black head coverings are gathered. A poster with black and white portraits is held, with a small Iranian flag nearby." class="css-xsf469" height="500" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F03%252F12%252Fmultimedia%252F12int-theworld-iran-secondary-cmkj%252F12int-theworld-iran-secondary-cmkj-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzMyOTM2ODkuOTgxMjU4fQ:1w0Yh7:tyxD_RJRq83c-A4wtVeVYMxzm10GVga2zFd15b2h4pM" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
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            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:left">
             <span class="css-1hnedf7" style="color:#666;font:normal 12px georgia,serif">
              A funeral for Iranian military officials killed by U.S. and Israeli airstrikes in Tehran yesterday.
             </span>
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:5px">
              Arash Khamooshi for The New York Times
             </span>
            </span>
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        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700">
          Regime change — for the worse?
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Israeli strikes took out Ayatollah Ali Khamenei, Iran’s supreme leader, on Day 1 of the war, raising hopes inside and outside the country that a more moderate — and, from a U.S. perspective, America-friendly — regime could eventually take over. Those hopes were largely dashed this week when the one man the U.S. and Israel had openly warned they didn’t want in power was named the next supreme leader.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          I spoke to my colleague Erika Solomon, our Iran bureau chief. She said the new supreme leader, Mojtaba Khamenei, a hard-line cleric and Ali Khamenei’s son, is still an unknown quantity. But, she told me, “most intelligence and military experts I spoke to think that, from an American perspective, Mojtaba Khamenei is going to be worse.”
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The younger Khamenei is known to be close to the most powerful military force in Iran, the Revolutionary Guards, who saw him as their favorite candidate. His appointment has been largely read as a signal of both continuity and defiance — a sign that the regime is not seeking change. The younger Khamenei may also have personal reasons to dig in: He also lost his mother, wife and son to the U.S.-Israeli strikes that killed his father, and was injured himself.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700">
          The nuclear problem might be a bigger problem now
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The U.S. strikes on Iran’s uranium enrichment facilities last year left them severely damaged. But the country still has a stockpile of enriched uranium. Its scientists still have the know-how. And should the U.S. pull out now, it’s hard to imagine the younger Khamenei would not sprint as fast as possible for a nuclear weapon.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          “A war that was meant to prevent Iran from having a bomb could be the war that actually pushed Iran beyond the Rubicon to reach a bomb,” Danny Citrinowicz, a former head of the Iran branch of Israel’s military intelligence, told Erika.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          U.S. officials know this. They are reportedly sufficiently worried about that uranium stockpile to have debated
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          sending in ground troops to retrieve it
         </a>
         <span>
          . An end to the war that doesn’t somehow account for those canisters could leave the U.S. and Israel in a worse position than they started.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700">
          An unstable region, and some very angry allies
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          At the moment, Erika said, the Iranian government itself doesn’t seem on the verge of collapse. But the growing risks of internal strife are real. The country is deeply fractured between regime critics — still seething over a bloody crackdown that killed thousands in January — and supporters who have only become more radicalized with the war.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          An unstable Iran would be a nightmare scenario for U.S. allies in the Gulf, which have been in Iran’s firing line, my colleague Vivian Nereim, our Gulf bureau chief in Riyadh, told me. These countries “do not want a massive, hulking failed state right across the water,” she said — one that could create refugee crises and insurgencies or lead to rogue militias terrorizing the Strait of Hormuz.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Saudi Arabia, the biggest country in the Gulf, never wanted the U.S. to launch this war, Vivian said. But “now that it’s happening, they want to finish it.”
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          What exactly “finishing it” looks like is, of course, the problem Trump is facing.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700">
          An unpopular war
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The Iran war is not popular in the U.S.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Most Americans oppose it
         </a>
         <span>
          and are already beginning to feel the cost of it. The spike in oil prices has
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          sent the price of gasoline surging
         </a>
         <span>
          17 percent.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          One of Trump’s political strengths has been his ability to reverse course when his big gambles have gone awry. He may well still attempt it here. But he risks leaving a path of destruction in his wake with potentially cascading costs to himself, to America and to its allies.
         </span>
        </p>
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             MORE TOP NEWS
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             <img alt='The stern of a large ship, named "MAYUREE NAREE BANGKOK," has thick black smoke rising from its deck. An orange life raft is in the water below.' class="css-xsf469" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F03%252F12%252Fmultimedia%252F12int-theworld-tanker-zblq%252F12int-theworld-tanker-zblq-jumbo-v2.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzMyOTM2ODkuOTgxNjU1Nn0:1w0Yh7:S1jq5zKz00wyev2cu6NpmY9jUV4pcJzwcV1LvEglYhE" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
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            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:left">
             <span class="css-1hnedf7" style="color:#666;font:normal 12px georgia,serif">
              A handout photo from the Royal Thai Navy showing damage to a Thai bulk carrier near the Strait of Hormuz.
             </span>
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:5px">
              Royal Thai Navy/Agence France-Presse — Getty Images
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        <h2 style="color:#000;font:700 24px/31px nyt-cheltenham,georgia,serif;margin:0 0 10px">
         <span>
          The world taps oil reserves as Iran blocks shipments
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          World leaders tried to shore up the global oil market yesterday as retaliatory attacks by Iran threatened to choke off the Strait of Hormuz. The member countries of the International Energy Agency said they would
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          release 400 million barrels of oil
         </a>
         <span>
          from their strategic reserves — the largest drawdown on record.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Oil prices kept pushing higher
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          At least
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          three large cargo ships were hit
         </a>
         <span>
          in or near the strait yesterday, according to a British maritime monitoring group. Iran appeared to take responsibility for one of the attacks, saying in a social media post that “any vessel that intends to pass must obtain permission.”
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Israel bombarded Beirut
         </a>
         <span>
          late last night and early this morning, killing at least seven people, the Lebanese health ministry said.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Follow our live updates
         </a>
         <span>
          .
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700">
          Other developments:
         </span>
        </p>
        <div style="margin:0 auto;max-width:600px;width:100%">
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              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                A deadly strike on an Iranian elementary school was the result of
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                outdated targeting data used by the U.S. military
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                , according to U.S. officials and others familiar with preliminary findings of the military’s ongoing investigation. The school building was fenced off from a nearby military base about 10 years ago.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                U.S. officials say that Iran’s weapons have been diminished, as the pace of
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                Iran’s retaliatory attacks appears to be slowing
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                .
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Iran has fired missiles with
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                cluster-munition warheads at Israel
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                , according to verified footage and Israeli officials — actions that could violate the laws of war.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Israeli airstrikes have
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                damaged several Iranian cultural heritage sites
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                .
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                In a little over a week, the war has jolted global security and the economy.
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                Here’s how
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                .
               </span>
              </li>
             </ul>
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            <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
             <img alt="Prime Minister Keir Starmer, right, and Peter Mandelson, the former British ambassador to the U.S. " class="css-xsf469" height="500" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F03%252F12%252Fmultimedia%252F12int-theworld-epstein-bzmw%252F12int-theworld-epstein-bzmw-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzMyOTM2ODkuOTgxNzU0fQ:1w0Yh7:S_h-idwAlIPAQ2bhevYnheu2tdkETXCP_0mY2-mmY1g" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
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             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:0">
              Carl Court/Agence France-Presse — Getty Images
             </span>
            </span>
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        <h2 style="color:#000;font:700 24px/31px nyt-cheltenham,georgia,serif;margin:0 0 10px">
         <span>
          Starmer was warned about appointing Mandelson
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Prime Minister Keir Starmer of Britain was told that making Peter Mandelson his ambassador to the U.S. would bring “
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          general reputational risk
         </a>
         <span>
          ” because of Mandelson’s ties to Jeffrey Epstein, the convicted sex offender, according to documents released yesterday.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Starmer, who is struggling with dismal approval ratings, is facing questions about his judgment in choosing Mandelson for the high profile diplomatic post. The documents also included a letter noting that Mandelson’s lawyers had requested a payout of about £547,201, or about $734,000, when he was fired. Mandelson was instead given a severance payment of about £75,000.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700">
          Related:
         </span>
         <span>
          Virginia Giuffre told the British police that Epstein had trafficked her to Britain and forced her to have sex with the former Prince Andrew.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          They chose not to investigate
         </a>
         <span>
          .
         </span>
        </p>
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           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span style="font-weight:700">
             OTHER NEWS
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             <ul class="css-1dtd48z" style="color:#333;font:10px georgia,serif;text-align:left;padding-left:50px">
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                Ukrainian forces
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                struck a factory in the Russian city of Bryansk
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                that produces components for Russian missiles.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                A summit between Trump and Xi Jinping, China’s leader, is less than three weeks away — and
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                Beijing is frustrated about the vague agenda
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                .
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                For years, China has flown military jets near Taiwan almost every day.
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                Why did they suddenly stop?
               </a>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                The U.S. announced
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                a new investigation
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                into unfair trading practices by 16 trading partners, including the E.U.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                The chef René Redzepi
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                stepped down from Noma
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                , the Copenhagen restaurant he had led to international acclaim, amid allegations of past abuse of employees.
               </span>
              </li>
             </ul>
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           </tr>
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         </table>
        </div>
        <p class="css-sj7u5m" style="padding-bottom:10px;font:700 17px/15px arial,sans-serif;color:#000;padding-top:15px;margin:0">
         Top of The World
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The most clicked link in your newsletter yesterday was about
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          the benefits of drinking hot water
         </a>
         <span>
          .
         </span>
        </p>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
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           <td height="30">
           </td>
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          <td style="padding:0;font-size:0;border-top:14px solid #000">
           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span style="font-weight:700">
             SPORTS
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        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700">
          World Cup:
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Iran will not participate
         </a>
         <span>
          in this summer’s tournament, the country’s sports minister said, despite assurances from Trump that its team would be welcome.
         </span>
        </p>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
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            <div style="width:100%;text-align:center;line-height:0">
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           </td>
          </tr>
         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
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           </td>
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           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span style="font-weight:700">
             STUDY OF THE DAY
            </span>
           </h3>
          </td>
         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td style="text-align:center">
            <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
             <img alt="A GIF of a person wearing gloves dropping a cat onto the floor." class="css-xsf469" height="750" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F03%252F11%252Fmultimedia%252F12int-theworld-cats%252F12int-theworld-cats-jumbo.gif/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzMyOTM2ODkuOTgyMTQ1OH0:1w0Yh7:6LHt8A_Ldhcmv2jjqFEL5TmHACBd1J2heHDsIXvdV8Y" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
            </a>
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           <td style="text-align:center;width:100%;padding-top:3px;padding-bottom:20px;line-height:12px">
            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:right">
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:0">
              Higurashi et al., The Anatomical Record, 2026
             </span>
            </span>
           </td>
          </tr>
         </tbody>
        </table>
        <h2 style="color:#000;font:700 24px/31px nyt-cheltenham,georgia,serif;margin:0 0 10px">
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Falling cats
         </a>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          How do cats always seem to land on their feet? Researchers dropped them from midair and found a new explanation: a very flexible segment of their spines, capable of twisting an astounding 360 degrees, that allows them to correct their orientation in midair. (Don’t worry about the test subjects — they were protected by “a thick, soft cushion at the landing site.”)
         </span>
        </p>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
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           <td height="30">
           </td>
          </tr>
          <td style="padding:0;font-size:0;border-top:14px solid #000">
           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span style="font-weight:700">
             MORNING READ
            </span>
           </h3>
          </td>
         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td style="text-align:center">
            <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
             <img alt="A production images shows a man holding a suitcase and yelling. " class="css-xsf469" height="500" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F03%252F10%252Fmultimedia%252F12int-theworld-theater%252F12int-theworld-theater-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzMyOTM2ODkuOTgyMjQwN30:1w0Yh7:x_k95yYBq6_Thixnyozhkhz4VmOMqElZzogQ-zkfGAY" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
            </a>
           </td>
          </tr>
          <tr>
           <td style="text-align:center;width:100%;padding-top:6px;padding-bottom:20px;line-height:12px">
            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:left">
             <span class="css-1hnedf7" style="color:#666;font:normal 12px georgia,serif">
              “Beautiful Little Fools” at Southwark Playhouse in London.
             </span>
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:5px">
              Joshua Atkins for The New York Times
             </span>
            </span>
           </td>
          </tr>
         </tbody>
        </table>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          American theater productions big and small are now starting their stage lives in London. The costs of developing and running shows in the U.S. have skyrocketed: $20 million Broadway budgets are now common. At the same time, profits have plunged. That has led to a wave of offshoring across the pond, allowing producers and artists to refine new work and build word-of-mouth before staging higher risk productions in New York.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-weight:700">
          Read more
         </a>
         <span style="font-weight:700">
          .
         </span>
        </p>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td height="30">
           </td>
          </tr>
          <td style="padding:0;font-size:0;border-top:14px solid #000">
           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span style="font-weight:700">
             AROUND THE WORLD
            </span>
           </h3>
          </td>
         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td style="text-align:center">
            <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
             <img alt="An animated GIF shows scenes of people partying in the snow, sled dogs and a sled-dog team pulling a sled." class="css-xsf469" height="500" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F03%252F10%252Fmultimedia%252F12int-theworld-trailgating-fader%252F10evening-nl-trailgating-fader-jumbo.gif/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzMyOTM2ODkuOTgyMzM2OH0:1w0Yh7:ATpo610MM3NwQ0qvq3ajVTCV2uTAkPScTO93WZkt410" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
            </a>
           </td>
          </tr>
          <tr>
           <td style="text-align:center;width:100%;padding-top:3px;padding-bottom:20px;line-height:12px">
            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:right">
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:0">
              Emily Mesner for The New York Times
             </span>
            </span>
           </td>
          </tr>
         </tbody>
        </table>
        <h2 style="color:#000;font:700 24px/31px nyt-cheltenham,georgia,serif;margin:0 0 10px">
         <span>
          Chasing away the winter blues … in Alaska
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The Iditarod sled dog race is an extreme endurance event. Some would say winter in Alaska is, too. By the time March arrives and the race starts, people are ready to party.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          In Anchorage, the state’s largest city, spectators gather with Bloody Marys, homemade Jell-O shots and cheap beer to “trailgate,” celebrating the 1,600-kilometer race.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font-weight:700">
          Check out the scene
         </a>
         <span style="font-weight:700">
          .
         </span>
        </p>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td height="30">
           </td>
          </tr>
          <td style="padding:0;font-size:0;border-top:14px solid #000">
           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span style="font-weight:700">
             RECOMMENDATIONS
            </span>
           </h3>
          </td>
         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td style="text-align:center">
            <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
             <img alt="Footage of a family in their home. " class="css-xsf469" height="891" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F03%252F11%252Fmultimedia%252F12int-theworld-milan%252F12int-theworld-milan-jumbo.gif/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzMyOTM2ODkuOTgyNDMxMn0:1w0Yh7:VAMS_iDs6skj9O8DNIXsMEeVo84snWXP0a8fCjFfD6U" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
            </a>
           </td>
          </tr>
          <tr>
           <td style="text-align:center;width:100%;padding-top:3px;padding-bottom:20px;line-height:12px">
            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:right">
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:0">
              Paolo Lobbia for The New York Times
             </span>
            </span>
           </td>
          </tr>
         </tbody>
        </table>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700">
          Tour:
         </span>
         <span>
          This
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Milan family apartment
         </a>
         <span>
          doubles as a showroom for Mario Milana’s furniture designs.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700">
          Watch:
         </span>
         <span>
          “
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Scarpetta
         </a>
         <span>
          ” stars Nicole Kidman as a chief medical examiner.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700">
          Nourish:
         </span>
         <span>
          Cabbage is a nutrient powerhouse.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          These are its health benefits
         </a>
         <span>
          .
         </span>
        </p>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td height="30">
           </td>
          </tr>
          <td style="padding:0;font-size:0;border-top:14px solid #000">
           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span style="font-weight:700">
             RECIPE
            </span>
           </h3>
          </td>
         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td style="text-align:center">
            <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
             <img alt="A dish of stewed greens. " class="css-xsf469" height="500" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F02%252F27%252Fmultimedia%252F12int-theworld-cooking%252F12int-theworld-cooking-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzMyOTM2ODkuOTgyNTI1Nn0:1w0Yh7:SxzshrnXtIvm6JA5VIh6wRNnnqbrTnH2vkbs78S6x5Y" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
            </a>
           </td>
          </tr>
          <tr>
           <td style="text-align:center;width:100%;padding-top:3px;padding-bottom:20px;line-height:12px">
            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:right">
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:0">
              Kelly Marshall for The New York Times
             </span>
            </span>
           </td>
          </tr>
         </tbody>
        </table>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Eru, a perennial leafy green that grows wild in Central and West Africa, is at the heart of
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          this saucy stew
         </a>
         <span>
          . Traditional versions call for a long simmer of assorted meats, dried crayfish, eru and hot pepper. This recipe offers some substitutions but still makes for an unforgettable meal.
         </span>
        </p>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td height="30">
           </td>
          </tr>
          <td style="padding:0;font-size:0;border-top:14px solid #000">
           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span style="font-weight:700">
             WHERE IS THIS?
            </span>
           </h3>
          </td>
         </tbody>
        </table>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td style="text-align:center">
            <img alt="A group of five people in bathing suits at the edge of a body of water. One person is still in the water while two others climb out on ladders. " class="css-xsf469" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F03%252F12%252Fmultimedia%252F12int-theworld-quiz-hzkb%252F12int-theworld-quiz-hzkb-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzMyOTM2ODkuOTgyNjIwN30:1w0Yh7:jwWfa8Bl54Ev3cgooU2yVKnckonwQMWcNOq1dfl4oyI" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
           </td>
          </tr>
          <tr>
           <td style="text-align:center;width:100%;padding-top:3px;padding-bottom:20px;line-height:12px">
            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:right">
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:0">
              Catherine Hyland for The New York Times
             </span>
            </span>
           </td>
          </tr>
         </tbody>
        </table>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700">
          Where is this swimming spot?
         </span>
        </p>
        <div style="margin:0 auto;max-width:600px;width:100%">
         <table>
          <tbody>
           <tr>
            <td style="padding:0 0 5px">
             <ul class="css-1dtd48z" style="color:#333;font:10px georgia,serif;text-align:left;padding-left:50px">
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                Dinan-Cap Fréhel, France
               </a>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                Helsinki, Finland
               </a>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                Kettle Cove, Maine, U.S.
               </a>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                Coldingham Bay, Scotland
               </a>
              </li>
             </ul>
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td height="30">
           </td>
          </tr>
          <td style="padding:0;font-size:0;border-top:14px solid #000">
           <h3 style="color:#000;font:700 17px/25px arial,sans-serif;margin:5px 0 30px 0;letter-spacing:.2px">
            <span style="font-weight:700">
             TIME TO PLAY
            </span>
           </h3>
          </td>
         </tbody>
        </table>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Here are today’s
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Spelling Bee
         </a>
         <span>
          ,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Mini Crossword
         </a>
         <span>
          ,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Wordle
         </a>
         <span>
          and
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Sudoku
         </a>
         <span>
          . Find
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