Iran condemned a US airstrike near the Shahid Baghaei Specialised Hospital in Ahvaz, forcing the evacuation of 211 pediatric cancer patients. Iran's Foreign Ministry and Foreign Minister called it a 'barbaric' attack and a 'cowardly war crime,' comparing it to Israeli strikes on Gaza healthcare and a violation of international law. The US confirmed a new wave of strikes on Iran but did not comment on the hospital proximity. The incident escalates the US-Iran conflict and raises concerns over civilian infrastructure targeting.

Background: On July 13, 2026, President Trump reimposed a naval blockade on Iran and declared the US 'Guardian of the Strait of Hormuz,' imposing a 20% cargo fee. Today: Trump reversed the toll demand after Gulf allies and the UN maritime agency deemed the toll illegal, instead proposing that Gulf states make major investments in the U.S. He stated that investments are better compensation than tolls, while the naval blockade on Iran remains in effect. Trump spoke with Qatari Emir Sheikh Tamim bin Hamad Al Thani regarding the strait. Gulf states had already committed over $2 trillion in U.S. investments before the war. The reversal came amid ongoing US-Iran exchanges in the strait.

TSMC had previously committed $165 billion to Arizona factories and signaled confidence in AI growth. Today, the company announced a new $100 billion investment, raising its total US commitment to $265 billion, with plans for four additional fabrication plants. The move, welcomed by the Trump administration, aims to boost domestic advanced semiconductor manufacturing and create tens of thousands of jobs. TSMC also reported a 77% surge in second-quarter net profit to $22 billion, driven by AI chip demand. Commerce Secretary Howard Lutnick credited President Trump's leadership for the investment.

President Trump overruled a Department of Homeland Security decision to suspend ICE vehicle stops following two fatal shootings by agents in Maine and Houston. The pause, aimed at providing additional training, was reversed by Trump via Truth Social. The shootings, which killed non-target individuals, have renewed criticism of ICE's enforcement tactics and highlighted tensions within the administration between aggressive enforcement and public safety. At least 22 people have been shot at by ICE agents since Trump returned to office, with six killed.

A new analysis argues that the Islamic Republic of Iran remains durable despite US-Israeli decapitation strikes, and has developed a new deterrent through its ability to disrupt global energy markets via drone and missile attacks on Gulf states. The US-Iran ceasefire deal is described as fragile, with Israel actively working to undermine it. A potential third round of conflict could coincide with disruptions to four major waterways—the Strait of Hormuz, Bab el-Mandeb, the Sea of Azov, and the Black Sea—straining global energy stocks and inflation ahead of US midterms. The analysis also notes that global markets have been resilient, but that the US may lack the tools to achieve regime change in Iran.

Background: The Iran war and closure of the Strait of Hormuz have driven US gasoline prices to a national average of $4.56 per gallon, with all 50 states above $4 and seven above $5, causing political pressure and affecting summer travel. New development: The average price of diesel in the US has risen above $5 per gallon and gasoline near $4, returning to highs seen before the June US-Iran memorandum of understanding. The price increases are driven by renewed US-Iran hostilities, including Iran's closure of the Strait of Hormuz and the US blockade of Iranian ports, as well as erratic policy announcements from the White House. The AAA warns that diesel price hikes lead to rising costs across the economy. The price of a barrel of oil stands at about $81. On Monday, the president suddenly announced the US would take over the strait and charge 20% of the value of any cargo going through the waterway, but then dropped the plan.

Background: The US and Iran have been engaged in escalating military exchanges over the Strait of Hormuz, with Iran reporting casualties from US strikes on five provinces and the IRGC retaliating against US bases in Bahrain and Kuwait. On July 17, a US strike on Iranshahr Airport in Sistan and Baluchestan province wounded at least one civilian and damaged electrical facilities and a fuel tank, causing a power outage, as the US bombing campaign against Iran continues.

A French investigative report reveals that President Donald Trump and his family have used his return to the White House for personal enrichment, including a deal with Kazakhstan that gave a small US firm access to a major tungsten deposit in exchange for $1.6 billion in US government financing, with Trump's sons holding a stake in a related entity. The report underscores a pattern of unconstrained corruption where political power is leveraged for family financial gain.

President Trump plans a prime-time speech from the White House on Thursday covering resumed fighting with Iran and election integrity, including a push for the SAVE America Act. The address signals a new effort to use direct-to-camera speeches to shape public discourse on key issues.

Senate Democrats unanimously blocked the National Defense Authorization Act (NDAA) in a 50-46 procedural vote, preventing debate on the $1.15 trillion Pentagon policy bill. The blockade is a protest against President Trump's war in Iran and the lack of congressional guardrails. Minority Leader Chuck Schumer called the bill a 'permission slip' for the administration's recklessness in Iran. The move is rare and signals further partisan conflict over federal funding. Republicans expressed pessimism about advancing the bill, and it remains unclear how leaders will proceed.

The US has attacked the oil tanker Belma in the Gulf, firing Hellfire missiles into its smokestack after it ignored warnings while heading toward Iran's Kharg Island oil terminal. This follows President Trump's reintroduction of a naval blockade of Iranian ports on Tuesday, in response to alleged Iranian attacks on commercial vessels in the Strait of Hormuz and escalating tit-for-tat strikes. The blockade had been lifted under a ceasefire deal in June, during which Iran exported an estimated 74 million barrels of oil worth up to $6 billion. The US also redirected two other commercial vessels that complied. Crossings through the Strait of Hormuz have fallen sharply, with only 11 vessels on Wednesday, down from 17 on Monday.

CIA Director John Ratcliffe confirmed that Russian recruits on Ukraine's front lines survive an average of 20-30 minutes due to AI-powered drones, marking the first time a senior US intelligence official has publicly validated the high Russian casualty rates. Ratcliffe spoke at the Defense and Innovation Summit, noting that drone technology has stalled Russia's advance and that the US must lead in emerging tech. The Russia-to-Ukraine casualty ratio reached nearly 8-to-1 in the first half of 2026, with over 2 million soldiers killed or wounded since the invasion. The EU and Ukraine signed a $6 billion drone-production deal, and progress was made on multibillion dollar deals with the US.

Acting Attorney General Todd Blanche refused to explicitly rule out deploying armed federal agents to polling places, stating only that he would 'follow the law.' This comes amid lawsuits challenging potential voter intimidation, as multiple administration officials have also declined to guarantee no ICE presence near voting sites. Federal law generally prohibits troops or armed men at polls except in narrow circumstances.

The U.S. Consumer Price Index fell 0.4% in June, the largest monthly decline since April 2020, driven by a 5.7% drop in energy prices. Core CPI rose 2.6% year-over-year. However, the data does not account for the sharp rise in oil prices in July due to renewed U.S.-Iran hostilities, suggesting the reprieve may be short-lived. Analysts expect the Federal Reserve may hold off on rate hikes, but tariff pass-through and AI-driven costs remain concerns.

Background: Iran confirmed US warnings of an Israeli plot to assassinate its negotiators during April ceasefire talks in Islamabad, which led to a framework deal signed on 17 June. The New York Times reported that US officials warned Iran of a suspected Israeli plot to kill Foreign Minister Abbas Araghchi and Parliament Speaker Mohammad Bagher Ghalibaf, the lead negotiators. Washington, unable to coerce Israel, used intermediaries to protect the diplomatic process. The report details that Israeli strikes earlier killed pragmatic figures Ali Larijani and Kamal Kharazi, and that Ghalibaf survived two assassination attempts. It frames Israel as a spoiler within the US alliance, with Israeli Defence Minister Israel Katz declaring Mojtaba Khamenei marked for death, and the IRGC threatening to abandon the talks. US Vice President JD Vance publicly rebuked Israeli ministers for attacking the memorandum. Third parties like Pakistan and Qatar helped ensure safe passage for Iranian negotiators to talks in Islamabad, Doha, and Switzerland.

Gold fell below $4,000 per ounce and silver declined sharply as escalating US-Iran hostilities in the Middle East drove oil prices higher, reviving inflation concerns and expectations that the Federal Reserve may keep interest rates elevated, reducing the appeal of non-yielding precious metals. The US carried out additional strikes against Iranian targets, prolonging hostilities that have disrupted energy supplies. President Trump said Tehran signaled willingness to resume negotiations, but uncertainty remains after an interim peace agreement unraveled. US producer prices unexpectedly declined in June for the first time in nearly a year.