China brushed off the Trump administration’s “economic D-Day” plan to isolate Tehran from global commerce, and there are serious questions about whether the latest round of sanctions will move the needle in the U.S.-Iran war.
… So far, the administration has stopped short of imposing full-blown secondary sanctions on key Iranian trading partners, namely China, Iran’s biggest oil customer.
… Treasury Secretary Scott Bessent indicated such extreme steps are on the table but also expressed reluctance to, as he put it, “blow up the global financial system.”
… The Russian government could take control of critical infrastructure if private owners can’t protect it from Ukrainian drone strikes.
… The Pentagon announced a $750 million investment in the production of rare-earth carbonates in Brazil. It’s the latest move in the Trump administration’s aggressive investment strategy in the defense and critical materials sectors.
… President Trump is threatening more tariffs on Canadian goods. He also said he wants to rename Lake Ontario as “Lake America.”
… Taiwanese prosecutors charged nine people for illegally exporting “high-end AI servers” to mainland China.
… And U.S. forces struck an alleged drug-carrying boat in the eastern Pacific, killing the two people on board. It’s the first such attack in about two months.