Brent crude settled above $78 a barrel on Wednesday, up more than 5%, after the US launched a second day of strikes on Iran, the US Treasury revoked Tehran’s oil sanctions waiver, and Iran threatened to close the Strait of Hormuz.
Tag: Trump
Posted inEconomy
US trade deficit widens to $77.6 billion in May as imports surge
The US goods and services trade deficit expanded by $23 billion to $77.6 billion in May 2026, the Bureau of Economic Analysis reported on 7 July, driven by a sharp rise in imports and a fall in exports.
Posted inGeopolitics
NATO Ankara summit pledges €70bn for Ukraine and locks in 5% GDP defence target
Leaders of all 32 NATO members gathered in Ankara on 7–8 July 2026, pledging €70 billion in military aid to Ukraine in 2026 and formalising the alliance’s five-percent-of-GDP defence investment target.
Posted inWorld
Trump arrives in Ankara to enforce NATO’s 5% defence pledge
NATO heads of state convene in Ankara on 7–8 July as Trump presses allies to prove their 5% of GDP defence spending commitment made at The Hague summit a year ago.
Posted inTech
OpenAI proposes a 5% US government equity stake worth $42.6 billion
OpenAI CEO Sam Altman has proposed giving the US government a 5% equity stake worth roughly $42.6 billion as part of a new AI sovereign wealth fund, the FT reported.
Posted inGeopolitics
Trump cuts NATO forces before Ankara summit as allies prepare 5% GDP spending pledge
Trump has cut 5,000 US troops from Germany and halted a Poland rotation ahead of the Ankara NATO summit on 7 July, in what Pentagon officials call ‘NATO 3.0’.
Posted inEconomy
USMCA’s first joint review opens as North American trade faces its highest tariff pressure in decades
The Free Trade Commission convened on 1 July 2026 to begin the USMCA’s six-year review, with Mexico facing a 9.8% average tariff rate and the three nations deciding whether to extend or let the pact expire in 2036.
Posted inTech
OpenAI restricts GPT-5.6 rollout after Trump administration request
OpenAI launched its GPT-5.6 model family on June 26 in a restricted preview, gated to approved partners at the Trump administration’s direct request.
Posted inEconomy
US and India near a trade deal with a July 24 tariff deadline forcing pace
USTR Jamieson Greer completed a June 22-24 New Delhi visit with both sides saying a trade deal is imminent before the July 24 tariff deadline on Indian goods.
Posted inWorld
De la Espriella wins Colombia’s presidential runoff in narrowest race on record
Abelardo de la Espriella’s narrow runoff win on June 21 ends four years of Gustavo Petro’s leftist government and reshapes US-Colombia ties.