1. In a large soup pot on medium-high heat, saute the onion in the olive oil until translucent and starting to caramelize, about 8-10 minutes.
2. Add the carrot and chili powder and continue to cook, stirring frequently, about 3 minutes.
3. Add garlic and stir for 1-2 minutes more or until carrots are tender.
4. Stir in the mustard, water, tomatoes, beans, vinegar, molasses and soy sauce.
5. Bring to a boil then lower heat and simmer for about 15 minutes.
6. Add salt and pepper to taste.