The US government is closely monitoring a potential disruption in oil supply due to tensions in the Strait of Hormuz, which could lead to a small contraction in global economic growth and increased inflation. Secretary of State Marco Rubio urged China to take a stand against Iranian retaliation, while President Trump's administration is watching energy prices closely, suggesting they may take executive action to prevent price spikes.
https://www.thenews.com.pk/print/1324344-white-house-faces-risk-of-economic-fallout-from-iran-strikeA San Diego-based attorney has expressed concerns over the Supreme Court's decision to allow the deportation of migrants to countries such as Haiti and El Salvador, which are not their country of origin. The attorney argues that this decision contradicts the principles of international law and human rights. Specifically, the attorney points out that the US government is deporting individuals to countries with unstable political situations, posing a risk to their safety and well-being. For instance, Haiti has been plagued by political instability and violence in recent years, making it an unsuitable destination for deported migrants. The attorney believes that this decision sets a dangerous precedent and undermines the country's commitment to protecting refugees and asylum seekers.
https://www.cbs8.com/video/news/local/san-diego-attorney-weighs-in-on-scotus-decision-to-allow-third-country-deportations/509-d4533aca-bcc4-4440-b759-b5d97e6e8f2bUK Prime Minister Keir Starmer welcomed Ukrainian President Volodymyr Zelenskyy to Downing Street for a bilateral meeting, where they agreed on an industrial military co-production agreement. The deal is seen as a significant step forward in cooperation between the two nations. Starmer praised the professionalism and bravery of the Ukrainian troops undergoing training in the UK, with over 50,000 soldiers now trained through the international partnership.
https://channelnewsasia.com/world/uk-and-ukraine-agree-deepen-ties-zelenskyy-meets-starmer-5198941US President Donald Trump's tariff threats have led to speculation about currency policies during ongoing trade negotiations, posing a risk of being labelled a currency manipulator by the US. This threat acts as a deterrent, affecting Asia's central banks' approach to defending their currencies. South Korea recently held currency talks with the US, resulting in a stronger won after Trump expressed desire for a weaker dollar.
https://www.scmp.com/news/asia/article/3315562/trade-war-worries-push-asian-central-banks-curb-currency-intervention?module=top_story&pgtype=sectionThe Joint Comprehensive Plan of Action (JCPOA) was signed in 2015 between Iran and the P5+1, including the US, UK, France, Russia, China, and Germany, along with the European Union. The agreement aimed to limit Iran's nuclear program in exchange for sanctions relief. However, after Donald Trump's election as US President, he withdrew from the JCPOA and reimposed economic sanctions on Iran, despite the Iranian government's stated compliance. Israeli Prime Minister Benjamin Netanyahu presented "conclusive proof" of a secret nuclear weapons program in Iran, which led to the US decision.
https://www.eurasiantimes.com/n-not-russia-or-china-u-s-helped-iran-star/US trade deficit with Asia is widening as American importers stock up ahead of President Donald Trump's "reciprocal" tariffs deadline. Vietnam, Taiwan and Thailand reported record exports to the US in May, with companies front-loading shipments to avoid impending duties.
https://www.scmp.com/news/asia/article/3315560/asia-rushes-exports-us-trumps-tariff-deadline-looms?module=top_story&pgtype=sectionUS Vice President JD Vance, Secretary of State Marco Rubio and US special envoy Steve Witkoff were in contact with Iranian officials during negotiations led by Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani. The talks aimed to wrap up Israel's campaign in Iran soon. Markets reacted positively to the news, with S&P 500 futures rising 0.4% on Monday. US President Trump said a ceasefire had been agreed, relieving supply disruption concerns, after Iran fired 14 missiles at a US air base, which he described as "a very weak response".
https://www.asiaone.com/world/trump-says-israel-iran-ceasefire-now-effect-please-dont-violate-itThe World Economic Forum (WEF) is convening in Tianjin, China, amidst a complex geopolitical and geo-economic backdrop. WEF President Borge Brende warned of the potential for a decade of lower growth if global revival efforts fail. The meeting comes as tensions between the US and Iran are high, following a tariff war launched by US President Donald Trump. Brende cautioned that it's too early to predict the impact of these tariffs, but noted that traditional globalization has given way to a new system.
https://www.geo.tv/latest/610669-world-facing-most-complex-situation-in-decades-wefBritish officials are poised to strengthen ties with China in various sectors including economy, trade, science, technology, investment, education, and multilateralism. During a visit, Chinese official Yuan met with executives from Jardine Matheson and other business representatives to discuss China's high-quality development and reform measures, highlighting new opportunities brought by deepening reforms and opening-up.
https://www.globaltimes.cn/page/202506/1336855.shtml