U.S. and allies hold their largest drills yet in the Philippines near Taiwan, showcasing new tactics and alliances to deter China—while Beijing stages its own exercises nearby.
President Trump flew partway home from a NATO summit on an older Air Force One jet instead of the new Qatari-gifted plane, citing "old time's sake." The swap occurred as the U.S. and Iran traded strikes, raising security questions about the new jet, which reportedly lacks some missile detection systems.
At a NATO summit in Turkey, U.S. President Donald Trump announced the U.S. will grant Ukraine a license to manufacture Patriot air defense systems, a significant win for Kyiv. Trump also struck a positive tone with Ukrainian President Zelenskyy, expressing optimism for a peace deal. The summit saw European allies increasing defense spending, though Trump initially expressed dissatisfaction with some partners.
The US launched new airstrikes against Iran early Thursday, hitting approximately 90 targets. Iran responded by targeting Bahrain, Kuwait, and Qatar. These actions threaten an interim deal aimed at ending the Persian Gulf war, with President Trump warning of escalation.
President Trump declared the Iran ceasefire "over," expressing uncertainty about a deal and suggesting the U.S. should "finish the job." This mixed messaging follows recent military strikes, raising questions about future actions amid escalating tensions and ongoing diplomatic efforts by Pakistan, Qatar, and Egypt.
President Trump unexpectedly switched from a new, retrofitted Air Force One gifted by Qatar to an older model for his flight home from a NATO summit. The move raised security concerns about the new jet, which reportedly lacks advanced missile defense systems, especially as U.S.-Iran tensions escalated.
Renewed fighting between the US and Iran has caused crude oil prices to jump 7% and stock prices to fall significantly. The escalation threatens market volatility and could impact Federal Reserve interest rate decisions.
