U.S. and Iran exchange strikes as ceasefire collapses; escalation follows Iranian drone attack on cargo vessel
The U.S. struck Iranian missile facilities and radar sites near the Strait of Hormuz on Friday after an Iranian IRGC drone attacked a Singapore-flagged cargo ship, triggering Iranian retaliation against American positions in the Gulf. The exchange marks the collapse of a Memorandum of Understanding signed by Presidents Trump and Pezeshkian just 10 days earlier, with both sides accusing the other of violating the agreement.
Israel, Lebanon, and U.S. Sign Washington Framework Agreement, But Netanyahu Refuses to Commit to Full IDF Withdrawal from Southern Lebanon
Israel, Lebanon, and the U.S. signed a framework agreement Friday to begin limited IDF withdrawals from southern Lebanon through two pilot zones, but Prime Minister Netanyahu rejected broader withdrawal commitments, insisting Israel will maintain a security zone until Hezbollah is fully disarmed. The agreement, reached after months of U.S.-mediated talks, excludes Hezbollah and has prompted warnings from the militant group about potential civil war.
U.S. Q1 2026 GDP revised up to 2.1% as AI investment drives rebound, but consumer spending weakens
The Bureau of Economic Analysis released its final Q1 2026 GDP estimate on June 25, showing real GDP growth of 2.1% annualized, a sharp rebound from Q4 2025's 0.5% and beating economist forecasts of 1.6%. The upward revision was driven primarily by stronger business investment in AI-related equipment and a downward revision to imports, though consumer spending fell to just 0.5% growth and housing activity continued to deteriorate.
U.S. trade deficit widens to $105.8 billion in May, far exceeding forecasts as imports surge and exports fall
The U.S. merchandise trade deficit jumped 27.4% to $105.8 billion in May, blowing past economist forecasts by $20 billion, driven by a surge in automotive and consumer goods imports alongside a sharp decline in exports. The wider deficit is expected to drag on second-quarter GDP growth, with economists citing an AI investment boom and supply chain disruptions from U.S.-Iran tensions as key factors.
Trump blocks bipartisan housing bill, demands Congress pass voter ID legislation first
President Trump canceled the scheduled signing of a sweeping bipartisan housing affordability bill on Wednesday, demanding Congress instead prioritize passage of the SAVE America Act, which would impose nationwide voter ID requirements. The housing bill had passed with overwhelming bipartisan support (358–32 in the House, 85–5 in the Senate) and aims to increase housing supply and lower costs through 47 provisions, but Trump's action threatens its enactment just hours before the signing ceremony.
U.S. proposes forced-labor tariffs on 60 countries, including EU and China, at 10%-12.5% under Section 301
The U.S. Trade Representative announced proposed tariffs of 10%-12.5% against 60 economies—including the EU, China, India, and Japan—for failing to effectively ban imports of forced-labor-produced goods. The move uses Section 301 authority after the Supreme Court blocked Trump's prior tariff mechanism, and represents a sweeping trade action targeting major trading partners deemed non-compliant with forced-labor import prohibitions.
U.S. bars Somali referee from 2026 World Cup over terror concerns; FIFA pays him in full, UEFA appoints him to Super Cup
Somali referee Omar Artan, selected to officiate at the 2026 FIFA World Cup, was denied entry to the United States at Miami airport on June 6 due to U.S. Customs and Border Protection vetting concerns and alleged associations with suspected terror organizations, despite holding a valid visa and diplomatic passport. FIFA announced he would receive his full World Cup salary despite the exclusion, and UEFA subsequently appointed him to officiate the 2026 Super Cup final in Austria, drawing political reactions from Somalia and international figures who questioned the decision.
FDA-Approved Drug AMD3100 Frees Immune T Cells Trapped by Rare Liver Cancer, Clinical Trials Now Being Sought
Researchers discovered that fibrolamellar carcinoma, a rare and deadly liver cancer affecting children and young adults, evades immunotherapy by trapping immune T cells in surrounding fibrous tissue. The FDA-approved drug AMD3100 can free those trapped T cells to attack the cancer, significantly improving immunotherapy effectiveness in tumor samples, and researchers are now seeking to launch clinical trials.