Good morning. China said it banned the export to Japan of goods with potential military uses, intensifying Beijing’s retaliation against Japanese Prime Minister Sanae Takaichi over remarks she made about Taiwan.

The export ban takes effect immediately, China’s Ministry of Commerce said Tuesday.

What the move means: The move marks an escalation in Beijing’s pressure campaign against Tokyo and could pinch Japan’s economy by squeezing supplies of critical minerals and components used by Japanese factories. Beijing’s move also showcases to the rest of the world the economic weapons China has at its disposal to strike back at countries it perceives as adversaries and deter others from speaking out on Taiwan.

Not the first time: Leader Xi Jinping had already put those weapons on display during its trade tussle with the U.S. last year, when it piled pressure on the U.S. to drop tariffs on Chinese imports by imposing tighter controls on exports of critical minerals and magnets used in everything from jet fighters to computer chips.

What types of items would be restricted? China didn’t specify exactly which exports to Japan would be subject to the new restrictions. Analysts said that makes the effect on Japan’s economy hard to gauge. But a list of so-called dual-use items that could have military applications includes certain rare earth metals, machine tools, electronics including sensors and lasers and a host of other products used in manufacturing.

Chipotle sued over data breach.

Chipotle faces a proposed class action lawsuit from former and current employees over allegations its negligence led to a recent data breach that exposed their personal information, Risk Journal reports.

Poor data security allowed hackers to breach Chipotle accounts in the human resources software Workday, plaintiff Christian Jasso said in a lawsuit filed Friday in Los Angeles federal court. Jasso wants the court to allow damages on behalf of past and present workers of the Mexican restaurant chain, which has more than 4,000 locations in the U.S.

The court has to rule on whether Jasso’s suit can be used to represent the employees as a group.

• Nestle recalled specific batches of its SMA baby formula, citing the potential presence of cereulide bacteria.
   
• Chinese demand for Nvidia’s H200 advanced artificial-intelligence processors is “quite high,” Nvidia Chief Executive Jensen Huang said, a month after the Trump administration made the controversial decision to approve the chips’ sale in China.
   
• An equipment financing company from Utah lent money to First Brands at “usurious” rates that returned over 300% as part of a kickback scheme with a top executive, according to the official committee of the auto-parts supplier’s creditors.
   
• A teachers union in Texas sued the state’s education agency Tuesday over its investigations into educators who criticized conservative activist Charlie Kirk following his death.

The U.S. seizure of Venezuelan leader Nicolas Maduro marked an audacious move against an adversary that raises many questions about U.S. policy actions and global business risks.

Risk Journal held a webinar Tuesday, drawing from multiple teams at Dow Jones to provide a holistic analysis of the action and its implications. Click here to watch.

Alarm spreads among U.S. allies over Trump’s demand for Greenland.

President Trump’s embrace of military interventionism in Latin America has led to the diplomatic equivalent of embarrassed coughing from the U.S.’s allies in Europe. But his renewed designs on the Danish territory of Greenland are causing growing alarm.

The past few days have renewed fears in Europe that the Western alliance is fracturing. Trump’s growing taste for big-stick diplomacy in the Americas is adding to fears among traditional allies that the U.S. is actively dismantling the post-World War II international order, based on principles such as protecting the sovereignty of states and limiting the use of military force.

In its place, allies fear, is a division of the world into great-power spheres of influence, with the U.S., China and Russia becoming regional hegemons while curtailing the sovereignty of smaller countries.

• Rubio Tells Lawmakers Trump Aims to Buy Greenland, Downplays Military Action
• Some Republicans Push Back on Trump’s Designs on Greenland

Russia sends submarine to escort tanker the U.S. tried to seize off Venezuela

Russia has sent a submarine and other naval assets to escort an empty, rusting oil tanker that has become a new flashpoint in U.S.-Russia relations, according to a U.S. official. 

The tanker, formerly known as the Bella 1, has been trying to evade the U.S. blockade of sanctioned oil tankers near Venezuela for more than two weeks. The vessel failed to dock in Venezuela and load with oil. Although the ship is empty, the U.S. Coast Guard has pursued it into the Atlantic in a bid to crack down on a fleet of tankers that ferry illicit oil around the world, including black-market oil sold by Russia.

The vessel’s crew repelled an effort by the U.S. to board the vessel in December and steamed into the Atlantic. As the Coast Guard followed it, the crew sloppily painted a Russian flag on its side, changed its name to the Marinera and switched its registration to Russia.

• Trump’s Hint to Oil Executives Weeks Before Maduro Ouster: ‘Get Ready’
• Maduro’s Capture Deals Heavy Blow to Cuba’s Vaunted Intelligence Service
• Venezuelan Regime’s New Strategy: Appease Trump to Survive

• Hilton on Tuesday took the relatively rare step of removing a hotel from its system in the midst of criticism online over the property’s refusal to house Immigration and Customs Enforcement officers coming to Minneapolis.
   
• The U.S. Supreme Court set Friday as an opinion day, raising expectations that the court could rule on the case regarding global tariffs President Donald Trump imposed using the International Emergency Economic Powers Act.
   
• Iranian authorities met a large protest in the Tehran Grand Bazaar on Tuesday with a heavy police response, as the unrest extended into a second week and the currency fell to a new low.
   
• The U.K. and France will set up military hubs across Ukraine and build protected facilities to produce weapons and military equipment for the country if a cease-fire agreement is reached between Kyiv and Russia, British Prime Minister Keir Starmer said Tuesday.

• Nvidia CEO Jensen Huang said he wasn’t worried about a potential tax on billionaires in California, breaking from a cadre of ultrawealthy residents who have spoken out against the first-of-its-kind proposal.
   
• A growing contingent of judges are increasingly embracing AI to help them draft opinions, analyze court filings and quickly conduct legal research.
   
• L.A.’s recovery in the 12 months since wind-driven fires last January tore through Southern California has been slow and uneven. The ability to rebuild has been determined as much by residents’ wealth and insurance coverage as it has by government officials’ willingness to cut red tape.

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