Axios

Argentina yesterday hosted its first Conservative Political Action Conference, an offshoot of the U.S. event.

Why it matters: The conservative conference is making inroads in South America.

• CPAC also held a similar event in Brazil this summer.
• Argentine President Javier Milei is a right-wing leader who has expressed admiration for Trump.

State of play: Among CPAC Argentina's keynote guests was Lara Trump, the co-chair of the RNC and daughter-in-law of Trump.

• In her speech, she referred to cuts and austerity measures Milei's government has undertaken since last December, saying the U.S. hopes to do the same with the announced Department of Government Efficiency that will be led by Elon Musk and Vivek Ramaswamy.

1. Colombia's Supreme Court this week called for President Gustavo Petro to send in written statements in a corruption case.

• The case involves alleged fund misuse at the agency for disaster and emergency management.
• Petro has been summoned to testify because one of the people allegedly involved was Ricardo Bonilla, who until last night was Petro's finance minister.
• Petro has said he had no involvement and that, while he didn't think Bonilla was guilty, it was better for Bonilla to step down to avoid "attacks" against Petro's government.

2. Cuba's electric grid went fully offline yesterday for the third time since late October, and until today only 50% had been re-established.

Our hats off to Jesse Guardiola, the vice president of community engagement and government relations for the Tulsa Area United Way!

• Jesse works to address community needs while working closely with corporations, foundations, schools, nonprofits and various government agencies.
• He also focuses his efforts on helping Tulsa's Hispanic community.

Keep up the amazing work, Jesse!

Israeli intelligence officials have been startled by a faster-than-expected collapse of the Syrian army's defense lines over the last 24 hours, two senior Israeli officials tell Axios.

Why it matters: The rapid advance of the rebels — who captured the city of Hama on Thursday, days after taking Aleppo — could precipitate a collapse of the Syrian Army. One of the senior Israeli officials said the fall of Damascus now seems more plausible than it had until very recently.

Mexico's record seizure of fentanyl pills on Tuesday night was promoted as a blockbuster win, but an expert tells Axios Latino the timing is suspect.

Why it matters: The seizure comes on the heels of President-elect Trump's threats to impose tariffs on Mexico and Canada, claiming it will pressure them to stop the flow of migrants and drug-trafficking along the border.

Immigrants arrested for homicides accounted for less than 1% of "at-large" arrests by Immigration and Customs Enforcement over the last six years, an Axios review found.

Why it matters: President-elect Trump has vowed to launch the "largest deportation of criminals in American history" — often focusing on the slaying of college student Laken Riley by an undocumented immigrant — but data shows crimes like homicide and sexual assault feature in only a small fraction of ICE arrests.

South Korean police announced an "insurrection" investigation into President Yoon Suk-Yeol and other top officials in relation to his since-retracted martial law declaration following a formal complaint from opposition lawmakers, per multiple reports.

Why it matters: Presidential immunity does not apply to this crime in South Korea and it can carry the death penalty, AFP notes.

Israel gave Hamas an updated proposal for a deal to release some of the remaining 100 hostages held by Hamas and begin a ceasefire in Gaza, two Israeli officials said.

Why it matters: Israel hopes the killing of Hamas' leader Yahya Sinwar, a ceasefire in Lebanon and pressure from President-elect Trump could provide an opening to resume negotiations that have been deadlocked for three months, Israeli officials said.

At least eight U.S. telecommunications carriers were compromised during a wide-reaching Chinese espionage campaign, Anne Neuberger, deputy adviser of cybersecurity and emerging tech, told reporters Wednesday.

Why it matters: This is the first time the U.S. has confirmed the number of carriers reeling from the Salt Typhoon campaign — more than three months after news reports started uncovering details about the operation.

The French government collapsed on Wednesday as parliament voted to oust Prime Minister Michel Barnier and his cabinet, throwing the nation into the worst political and fiscal turmoil in decades.

Why it matters: The chaos leaves Europe's second largest economy without a functioning government for the first time in 60 years — the most severe fallout to date from the efforts to shrink its deficit.

The greater Middle East is erupting, and in just six weeks — tick tock, tick tock — it's Donald Trump's problem.

Why it matters: For all the attention paid to technological face-offs with China and measurements of military might in the Indo-Pacific, it will be the pressures of the Middle East that dominate the early days of Trump's Pentagon.

President-elect Trump's bombastic policy threats, Mar-a-Lago missives and mere presence have become a driving force in markets and capitals around the world, six weeks before Trump's inauguration.

Why it matters: Only one man occupies the White House. But the norm-busting assertiveness of Trump and his transition team — and the rapidly fading relevance of President Biden — have given the U.S. something of a two-headed presidency.

South Korean President Yoon Suk Yeol walked back his Tuesday declaration of martial law hours after the country's National Assembly voted to strike down his stunning decree that sparked a constitutional crisis for one of the closest U.S. allies in Asia.

The latest: The Korean Confederation of Trade Unions announced plans to strike until Yoon resigns and opposition lawmakers told reporters they had submitted a motion to impeach the president on Wednesday.

Kash Patel, President-elect Trump's pick for FBI director, was targeted in an Iranian cyber attack, Semafor first reported on Tuesday evening.

Why it matters: This would mark the latest in a series of alleged Iranian hack attacks on Trump's associates.

A man in California has been arrested for allegedly sending weapons and ammunition to North Korea from the U.S., prosecutors announced Tuesday.

The big picture: Shenghua Wen, a Chinese national living unlawfully in Ontario, Calif., is accused of spending $2 million on weapons for Pyongyang and allegedly told the FBI he believed Kim Jong-un's regime wanted the arms "to prepare for an attack against South Korea," per a criminal complaint.