Luke Vargas

What's a story that emerged this year that could become the story next year?

Their insights were fascinating as ever, starting with South America bureau chief Juan Ferreiro's prediction that after President Trump's campaign against Venezuela and his harsh words for other leftist leaders in the region, changing political tides — especially after pivotal Brazilian elections in October —

could make 2026 a year of greater cooperation with Washington.

Across the Atlantic, meanwhile, Brussels Bureau Chief Dan Michael sees longstanding U.S.

alliances facing new strain.

Not only has the U.S.

been vocal in its criticism of countries' internal affairs, with the White House strategy document calling out their loss of, quote, "...civilizational self-confidence and Western identity," but a stark policy gap is opening up over the war in Ukraine.

A diplomatic question mark is also hanging over the Middle East, according to our Deputy Bureau Chief, Shandy Race.

And as Shandi pointed out, Gaza is just one corner of the region worth watching, alongside the fragile situation in post-Assad Syria, Yemen's continuing civil war, and Iran's next moves.

And we can't wrap things up without mentioning China.

Our chief China correspondent Lingling Wei and our Asia editor Deborah Ball told us that 2026 will see Beijing dial up its economic and military ambitions, testing the strength of America's security guarantees and trade relationships, but in the process, potentially sowing the seeds of pushback against its growing stature.

And Deborah Ball.

And Deb said the pressure on governments to tighten the trade screws on China could mount when Chinese digital goods begin flooding markets alongside physical ones.

From Latin America to the Middle East and from the front lines of kinetic wars to trade battles, if any of those predictions come to pass in the new year, you'll hear about them here.

And that's What's News for 2025.

Today's show was produced by Pierre Bien-Aimé, Julie Chang, Daniel Bach, and Hattie Moyer, with supervising producers Tali Arbell and Sandra Kilhoff.

I'm Luke Vargas for The Wall Street Journal.

And a heads up that we're off tomorrow for New Year's Day, but we will be back with a brand new show on Friday afternoon.

Until then, thanks for listening, and Happy New Year.

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