Former Canadian Prime Minister Justin Trudeau speaks with Mandy Drury at CNBC CONVERGE LIVE held in Singapore on April 23, 2026.
CNBC
Hello, Leonie Kidd is writing from Singapore. It’s day 2 of the CONVERGE LIVE event.
Today’s headline story is former Canadian Prime Minister Justin Trudeau, commenting for the first time on the Middle East conflict and the difficult road to peace.
The fragility of extending the ceasefire has also kept markets on edge, with volatile trading in Asia weighing on demands from Europe and the United States to begin.
What are the key takeaways from this trip? Uncertainty is uncertainty, and people everywhere in the world are accepting this as their new reality.
What you need to know today
Former Canadian Prime Minister Justin Trudeau said on CNBC’s CONVERGE LIVE in Singapore on Thursday that international financial institutions are “stunningly ill-adapted” in responding to modern challenges.
“If you look at different parts of the world, whether it’s the WTO or the IMF or other institutions, you’ll see that those institutions are not necessarily fit for purpose for our decades,” Trudeau told CNBC’s Mandy Drury.
His comments come against the backdrop of the US and Israel’s war against Iran. “I think all the parties involved want to see a path through this, and I don’t think they’re at the point yet where they can share a path through this. Unfortunately, this volatile situation is going to continue for a while yet,” Trudeau said.
Later today, CNBC’s Steve Sedgwick will speak with IEA Director-General Fatih Birol on CONVERGE LIVE. You can watch all the action from Singapore here.
Asian markets gave up early gains and turned to losses as media reports that the United States had seized at least three Iranian oil tankers in Asian waters shook investor confidence and heightened uncertainty over the possibility of a protracted conflict in the Middle East.
Stocks in Japan and South Korea lagged Wall Street’s gains overnight to hit record highs in early trading on Thursday after President Donald Trump extended the ceasefire with Iran, with strong corporate earnings and strong investor sentiment.
This is a negative situation for European and US futures, with major markets looking to exit gains at the start of trading on Thursday.
— Leonie Kidd
