Summary

• New US attack wave on Iran begins in overnight hours.
• Tehran denies seeking talks, insists on Hormuz terms.
• Oil climbs as attacks on Saudi energy sites continue.
• Conflict widens with joint US-Saudi strikes in Iraq which killed at least 20.

*  *  *

New US Strikes on Iran Begin in Night Hours

The United States has begun a new round of airstrikes in Iran in the night time and early morning hours (local), according to a senior US official to Axios. The extent of the bombings, or whether they will be sustained, remains unclear:

Trump “is in an escalatory mood” but is still contemplating “the depth of that response.”, A senior administration official says – WSJ

Trump is apparently making good on his earlier Wednesday threat:

President Trump has told Fox News that he is “going to beat the fucking shit” out of Iran in response to their attack on US forces in Jordan overnight. Speaking to Trey Yingst, he added “we’ll be hitting them hard, they’re going to get a beating.”

There was heavy US refueler activity in regional skies just ahead of the strikes’ commencement – as well as unconfirmed reports of explosions at Riyadh’s international airport, but the cause has remained subject to speculation.

But with each attack on Iran, its forces tend to respond in kind against Gulf countries hosting US assets and bases. It is going to be a long night for the region, especially while bracing for the IRGC’s inevitable response.

>Before NOTAMs
>After NOTAMs

Large areas have been cleared in northeast, northwest and possibly southern Saudi, opening up corridors at all altitudes. While commercial traffic is filtered through a single narrow corridor. pic.twitter.com/9ZjYkjmars

— barry with the NED (@bonzerbarry) July 29, 2026

US is quite clearly stuck, in search of a strategy…

I think there’s going to be a ground attack soon. What lunacy.

— Brandon Weichert (@WeTheBrandon) July 29, 2026

Details of Trump-Netanyahu Meeting at Oval Finally Emerging

After on Tuesday President Trump hosted both Zelensky and Netanyahu in the Oval Office there were no big press conferences or readouts given. But on Wednesday some key statements have begun to emerge concerning what was discussed, but at this point only offered via the Israeli side…

To be expected, Iran and the nuclear question dominated the discussions, according to i24’s Ariel Oseran, with Israeli officials describing a White House focused on three possible paths forward. “Trump is weighing three options: a nuclear deal, maintaining and intensifying the economic blockade, or renewed military strikes,” one official said, adding, “We didn’t tell Trump Israel’s preference is a strike. Our preference is the outcome. The decision is ultimately his.”

…talk about stating the obvious. But Israeli still maintains that the situation is at tipping point inside Iran, which according to more independent ‘realist’ analysts seems highly dubious.

Israeli officials argued that Tehran is under mounting internal strain. “Iran is under severe economic pressure” due to fuel and diesel shortages, roughly 90% inflation, and “the beginning of public protests.” They added, “We discussed increasing pressure on Iran, both economically and kinetically.”

On Iran’s leadership, officials said, “We know for certain Mujtaba is alive, but since Operation Rising Lion no one has seen him.” Regarding Iran’s military capabilities, they claimed, “Iran now has only 1,500–1,600 missiles left after we destroyed much of its production capability.”

Expletives fly and Trump talks ‘tough’ – but this whole gambit has been a bombing campaign in search of a strategy…

“We’re going to beat the fuc*ing sh*t out of them,” President Trump told Fox News after Iran launched a surprise attack against U.S. forces. “We’ll be hitting them hard.”

The President says U.S. strikes overnight against Iran-backed militias in Iraq were coordinated with the… pic.twitter.com/AeLbEGFCFi

— Trey Yingst (@TreyYingst) July 29, 2026

Addressing the nuclear program, Israeli officials (somewhat surprisingly) assessed, “We currently do not assess that uranium enrichment is taking place at Pickaxe Mountain, and we have good intelligence on Iran’s nuclear material.” They also asserted, “Eliminating 29 nuclear scientists was our insistence. It removed a critical mass of knowledge from Iran’s nuclear program.” This comes just after Trump vowed to wipeout the highly fortified facility, which would be a tall order given that it’s essentially under a mountain.

Looking ahead, they warned, “If Iran tries to rebuild its nuclear program, we will strike the ‘metastases’ as well.” Israeli officials also said they remain skeptical of diplomacy, telling reporters, “We told President Trump we have serious doubts about reaching a nuclear deal with Iran.”

As of yet, the White House has not offered a detailed readout of the Netanyahu discussion from the US point of view, however. Regional reports say some IRGC advisors were killed in the fresh US-Saudi operation in Iraq.

Iran Again Denies Trump Claims it is Urging US Talks

The few days of calm that persisted over last weekend since Friday are already a thing of the past, as tit-for-tat serious attacks between the US and Iran return, and now involving the Saudis and proxy militants in Iraq.

The fresh flare-up started as we reported when in the overnight and early hours of Wednesday (local) Iran launched several missiles on a US base in Jordan, with the Jordanian armed forces saying they intercepted five projectiles. Iran is framing this as new action due to US military activities enforcing the blockade of Iranian ports in the Strait of Hormuz.

For many hours prior to that new Iranian assault, which was accompanied by launches out of Iraq on Saudi energy sites, international headlines claimed that mediators were getting close to restoring the defunct Memorandum of Understanding (MoU).

As if to confirm that those headlines were nowhere close to reality, Iran’s Deputy Foreign Minister Kazem Gharibabadi has recalled President Trump’s words claiming that Tehran was “dying for a negotiation”; but, said Gharibabadi, “We have sent no request for negotiation with the US during the past 16–17 days.”

The Iranians have continued to insist that its own terms for strait management will be the end result of this war. “If the Strait of Hormuz returns to its previous state, our success in this war is not complete,” the Iranian diplomat said. He said this will include Iran’s right to charge fees to allow ships safe passage.

Trump: “We’ll Be Hitting Iran Hard” (Fox)

As for the renewed battle, President Trump has newly warned in a statement to Fox News that “we’ll be hitting Iran hard” in response to the new attacks on American targets in Jordan.

The new expanded nature and scope of the war has seen Saudi Arabia jump directly in against Iran-backed Shia paramilitary groups in Iraq, as well as the Shia Houthis of Yemen.

Oil continues to climb on the escalation headlines…

Rare Major Saudi-US Joint Strikes on Iraqi Militias

Rare and major joint US-Saudi strikes on Iraq have killed at least 20 militants, and wounded 32 more, according to Iraq’s Popular Mobilization Forces (PMF), as cited in Al Jazeera:

In an earlier statement, the PMF – which is an umbrella group for Iraqi militias backed, trained and loyal to Iran, said the attacks represent a “highly dangerous escalation” and a violation of Iraq’s sovereignty and official security institutions.

The Islamic Resistance in Iraq, a self-proclaimed resistance armed group backed by Iran, denied any role in the attacks on Saudi Arabia. It said Saudi claims were “fabrications” and that “any foolish Saudi action will be met with a harsh response”.

CENTCOM acknowledged that operation as a response to this weeks attacks on Saudi infrastructure, marking the first major US military action in the Middle East since last Friday when Trump first declared a pause after the 13 prior straight days of fighting. Trump had noted in the Fox comments that the Saudi and US attacks were coordinated with Iraq.

Ironically this comes at a time the Iraqi government has sought to appease Washington by overseeing a voluntary disarming program of its Shia factions. It has remained an open question to what degree this will actually be carried out.

Saudi Arabia’s Defense Ministry issued a statement saying the offensive was “in response ⁠to recent drone attacks” on the kingdom. During those attacks, the Saudi military “intercepted and destroyed several drones that attempted to target petroleum facilities in the Eastern Province and Riyadh regions…. launched from Iraqi territory and carried out by Iran-aligned terrorist militias.” It added that “The Kingdom emphasizes that it does not seek escalation but will respond to any aggression it faces.”

Meanwhile Trump continues to talk about taking out Iran’s highly fortified Pickaxe Mountain nuclear facility:

⭕️ Trump Says Netanyahu Wants Him to “Stay Involved” in Iran Campaign

During an interview on Fox & Friends on July 28, Trump expressed frustration that the media had leaked Netanyahu’s plans to brief him on intelligence regarding an underground Iranian nuclear facility at… pic.twitter.com/bL2uGfFjbI

— Drop Site (@DropSiteNews) July 29, 2026

Tehran has has responded by condemning the “clear aggression against the national sovereignty and territorial integrity of Iraq.” Iran said the new US-Saudi joint action was “in line with the aspirations of the United States and the Zionist regime to expand the scope of war,” according to the Foreign Ministry.

Iran has pledged its support to its allies in Iraq: “While expressing condolences for the martyrdom of a group of honorable Iraqi people during these aggressive attacks, the Ministry of Foreign Affairs emphasizes the full support and solidarity of the Islamic Republic of Iran with the government and people of Iraq, and holds the warmongering US regime and its accomplices in the region responsible for the dangerous consequences of these criminal, inhumane, and provocative actions,” it added.

War Persists Through November Midterms?

Below, University of Chicago political scientist and foreign policy realist author Robert Pape that the war will stumble along and likely expand even through the midterms…

“The victory rhetoric [from Trump] doesn’t match escalation reality,” he said. “It is out of sync.”

While Pape stopped short of predicting a yearslong conflict, he said meaningful policy changes are unlikely before the political landscape shifts after the midterm elections.

“I think it will actually be after the midterms,” he said. “Between now and January, this is not going to be over.”

Overnight developments 

via Newsquawk…

• US CENTCOM said US and Saudi forces strike Iran-backed terrorist sites in Iraq.
• Iranian state TV cites an unnamed military source stating that Iran denies any link to projectiles fired from other countries at targets in Saudi Arabia.
• Chinese Foreign Ministry denies reported that Iran will received Chinese-made man-portable air defence systems in the coming weeks.
• Iran official said Oman proposal for Hormuz Strait joint regional management is to fail.
• Iran will get Chinese shoulder launched missile systems in weeks, according to Reuters.
• US President Trump said in a tele-rally that Iran wants to make a deal so badly, adds we’ll get Iran to sign on the dotted line and we’ll get the war over with.
• US CENTCOM said at 17.45EDT, IRGC forces launch multiple ballistic missiles from Iran and all Iranian missiles were effectively intercepted.
• US official said Iran launched missiles at a US base in Jordan, but noted missiles were intercepted, according to Axios.
• Iran considered retaliatory strike on Ukrainian seaport, although a flurry of diplomacy has eased tensions, according to NYT citing officials.
• US official said Iran is over reaching with demands that Oman, US and the international community are rightly rejecting on Strait of Hormuz. Deal being discussed is a coordination deal, there are no tolls and no fees.
• Iraq PM’s planned visit to Saudi Arabia tomorrow has been cancelled, Iraqi government source tells Al-Araby.
• A senior Iranian official said Tehran has rejected Oman’s proposal for regional joint management of the Strait of Hormuz as unworkable, reported suggest.
• Iraqi sources said US and Saudi Arabia targeted a mosque and water purification plant in Baghdad.
• IRGC noted that 3 tankers were hit and seized in the Hormuz Strait, adds US interference in the region will not go unanswered.
• Explosions were heard in south Baghdad, while reported noted US and Saudi strike in Kirkuk and Salah Al-Din.
• Israeli PM Netanyahu said meeting with Trump is one of the best we’ve had.
• IRGC confirmed that they fired ballistic missiles at the US Air Base and US Military Central Command Center in Jordan.
• US President Trump posted that he had a very good meeting with Israeli PM Netanyahu and many important subjects were discussed.
• Explosions reported in Al-Suwayrah, Wasit province South of Baghdad.
• Source circulates ‘footage of a direct hit on Muwaffaq Al Salti Air Base in Jordan’.
• IRIB reported explosions in Jordanian airspace and that US base in Jordan was possibly targeted.
• Iranian media sources report explosions in US base in Jordan due to Iranian missile attack.
• Three Japanese-linked vessels have exited the Strait of Hormuz via Iran’s designated route, Kyodo reported.
• An Israeli military source said Defence Minister Katz disclosed operational details about the takeoff of US fighter jets from Israel to carry out strikes on Iran, Al Hadath reported.
• Several loud explosions are being reported in Jordan, according to Nour News.
• Sources said Yemen’s Houthis are considering imposing fees on commercial ships transiting the southern Red Sea.

Via Remix News,

Porsche is preparing to cut more than one in three jobs in Germany under a cost-cutting measure intended to protect its remaining workforce and existing production sites until 2035.

The Stuttgart-based sports car manufacturer will eliminate a further 5,000 positions at its main Zuffenhausen plant and Weissach development center. Combined with reductions already announced, around 8,900 employees are expected to leave the company.

The cuts are due to be carried out without compulsory redundancies, primarily through natural attrition, partial retirement schemes, and voluntary severance agreements, Die Zeit reported.

“This package creates the opportunity to strategically realign our company,” Porsche chief executive Michael Leiters said. “Only if we achieve our goals and are economically successful can we also provide our employees with the necessary security.”

The restructuring will also require significant concessions from staff.

Porsche plans to defer 3.5 percent of current and future collectively agreed pay increases for employees covered by company-specific salary arrangements. Senior managers will forgo part of their planned base-salary increases in 2027 and 2028.

The company-funded portion of employees’ Christmas bonuses will gradually be reduced, cutting the maximum payment from the equivalent of a full month’s salary to 60 percent. Future bonuses will also be tied more closely to Porsche’s profitability and overall performance.

Remote working will be restricted to eight days a month, down from 12, while break arrangements and production cycle times will also be revised.

The package was negotiated with the IG Metall union and the Südwestmetall employers’ association. According to Junge Freiheit, IG Metall members will receive an additional annual day off and a €200 voucher. Regular employees will receive a one-off €1,500 transformation payment in August, rising to €1,911 for union members.

Porsche’s latest measures follow a previous agreement to remove around 1,900 jobs in the Stuttgart region by 2029, as well as the expiry of approximately 2,000 temporary contracts. The manufacturer has also cut positions in Leipzig and announced the closure of three subsidiaries employing more than 500 people.

The company has been hit by collapsing sales in China, U.S. tariffs and costly investments in electric vehicles that have yet to produce the expected returns. The saturation of the European auto market by cheaper Chinese imports has further exacerbated problems within the wider German industry.

Audi recently lowered its revenue and profitability forecasts after second-quarter net profit fell by around 21 percent to €563 million.

Volkswagen is also pursuing a much broader restructuring programme that could reportedly eliminate as many as 100,000 jobs by 2030 and result in factories being reduced in size or closed altogether.

Earlier this month, German Association of the Automotive Industry president Hildegard Müller warned that the crisis had become so severe that some German plants may need to be transferred to foreign manufacturers to prevent their complete closure.

“We will not be able to keep all the factories and suppliers open this way,” Müller said, arguing that Germany and Europe now faced “significant changes” and the end of costly habits and entitlements that the country could no longer afford.

Read more here…

Housing affordability has become a defining economic issue across much of the world, but the relationship between home prices and incomes differs more than many people realize.

Using data from the UN Habitat World Cities Report 2026, Visual Capitalist’s Dorothy Neufeld created this map comparing median home prices with annual household incomes across more than 180 countries, revealing where buying a home is relatively attainable—and where it remains far out of reach.

The World’s Most Affordable Housing Markets

Saudi Arabia and the UAE have the lowest home price-to-income ratios in the dataset at 3.0. The U.S. ranks seventh-lowest at 4.5, below Canada (9.4), Australia (7.5), and the UK (8.3).

The ratio shows how many years of median household income would be needed to match the median home price. A lower figure indicates greater affordability, though the measure does not account for mortgage rates or other homeownership costs.

In Gulf countries, relatively high incomes and government-backed housing initiatives help keep homeownership within reach for many citizens.

In the U.S., rising mortgage rates and constrained housing supply have weakened affordability in recent years. Even so, home values remain relatively low compared with household incomes on an international basis.

Around three billion people worldwide remain underserved by the housing market as home prices continue to outpace incomes in many countries.

Where Buying a Home Is Most Difficult

At the other end of the ranking, Syria records the world’s highest home price-to-income ratio at 86.7, followed by Sri Lanka (40.8) and China (34.6). South Korea, Thailand, Vietnam, and the Philippines also rank among the world’s least affordable housing markets.

Although China’s housing market has cooled in recent years, home prices remain high relative to household incomes after decades of rapid appreciation fueled by urbanization and investment demand.

Several European countries also post relatively high ratios. Portugal (12.6), France (11.8), Luxembourg (11.5), and Germany (10.7) all rank well above the U.S. (4.5), reflecting affordability pressures across many advanced economies despite generally higher incomes.

Why Housing Affordability Is a Global Challenge

The data shows that housing affordability depends less on a country’s overall wealth than on how closely home prices track local incomes.

Even wealthy economies can become difficult places to buy a home when prices rise faster than wages, while some emerging markets remain comparatively affordable despite lower incomes.

Learn More on the Voronoi App 

To learn more about this topic, check out this graphic on home price-to-income ratios by state.

Authored by Tsvetana Paraskova via OilPrice.com,

Britain’s energy regulator, Ofgem, on Wednesday launched a consultation on a proposed commitment fee for data center projects as part of broad reforms to ensure network capacity is used for projects that are ready and able to connect.

The proposal includes a new Data Centre Commitment Fee, which would be paid by large data center developments when accepting a connection offer, Ofgem said in a statement.

The fee would be refunded when the project reaches grid connection status and forfeited if the project exits the grid queue early.  The fee would be set within a proposed range of £237,500 to £712,500 per megawatt (MW), equivalent to around 2.5% to 7.5% of average project costs.

“The proposals are aimed at tackling speculative projects from securing scarce network capacity without any firm intention to connect, ensuring the queue enables investment ready, viable projects,” Ofgem said.

Plans for a commitment fee for data centers were drawn up after the UK saw a surge in connection applications in the past two years, driven largely by demand from data center projects.

“Ofgem is concerned that a significant number of projects in the queue may not ultimately proceed, potentially delaying viable developments and creating misleading signals about future network investment needs,” the regulator said.

Last year, Ofgem approved an investment program of $32 billion (£24 billion) to maintain essential gas distribution networks and expand the power grid in a move to boost energy security and allow more renewables to enter the electricity system.

However, demand and applications for connections have soared over the past year, mostly driven by plans for data centers.

“The connections system must work for consumers and for the projects that are ready to invest, build and connect,” said Eleanor Warburton, Ofgem’s Director for Energy System Design and Development.

“Where speculative projects take up space in the queue, they can delay other schemes and create uncertainty about future network needs,” the official added.

From home construction and renovations to furniture and shipping pallets, lumber is one of the world’s most widely used building materials.

This graphic ranks the world’s biggest lumber producers by sawnwood output in 2024, using data from the UN Food and Agriculture Organization.

The World’s Top 30 Lumber Producers

The United States produced roughly 2.7 billion cubic feet of lumber in 2024, making it the world’s largest producer.

China ranked second with 2.1 billion cubic feet, followed by Russia and Canada. India rounded out the top five with nearly 847 million cubic feet.

Together, the top five producers account for more than half of global lumber output. Their scale reflects extensive forest resources, large sawmill industries, and steady demand from construction and manufacturing.

Europe has a deep bench of major lumber producers, with Germany, Sweden, and Finland leading the region. Sweden and Finland benefit from extensive managed forests and export-oriented sawmill industries, while Germany’s timber resources support its construction and manufacturing sectors.

Austria and France also rank among the world’s top 15, underscoring Europe’s importance to the global lumber supply.

China’s Lumber Industry Has Tripled Since 2004

Although the United States remains the world’s largest producer, China has recorded some of the fastest long-term growth.

Since 2004, the country’s lumber production has more than tripled as rapid urbanization fueled demand for housing, commercial buildings, and infrastructure. China has also become the world’s largest processor and consumer of wood products, supplying everything from furniture to engineered wood used in manufacturing.

A Critical Global Building Material

Lumber demand is closely tied to housing construction, infrastructure spending, and manufacturing activity. As countries continue investing in new buildings and industrial capacity, a relatively small group of producers will remain central to the global wood supply.

To learn more about this topic, check out this graphic on the world’s 4.1 billion hectares of forest by region.

Via Middle East Eye

Israeli Prime Minister Benjamin Netanyahu told Fox News on Tuesday that he was not too bothered by the International Criminal Court’s (ICC) arrest warrant for him, because Israeli special forces would protect him should any country try to take him into custody. 

“It scares me in this sense. For you, you travel internationally, God forbid you had a medical emergency, and you need to land, and you’re about to land in a country that recognizes the ICC. It could complicate things. Do you worry about that?” Fox News pundit and decades-long personal friend to Netanyahu, Sean Hannity, asked during the interview. 

“Yeah, I think about it,” Netanyahu responded. “You know, we have special forces around. I served for five years.”

“The IDF is pretty tough,” Hannity said, referring to the Israeli army. “Yeah. Let’s give them a new task,“ Netanyahu replied. 

Netanyahu flew through the airspace of several ICC member states this week on his way to Washington, prompting critics to accuse those governments of aiding an internationally wanted leader.

Netanyahu left Israel aboard the official government aircraft known as the “Wing of Zion” on Monday, ahead of talks with US President Donald Trump at the White House on Tuesday. Flight-tracking data showed the aircraft passing through the airspace of Greece, Italy and France before crossing the Atlantic, while a widely shared map of the journey indicated that it also entered Canadian airspace on its approach to the US. 

Greece, Italy, France and Canada are all parties to the Rome Statute, the treaty that established the ICC.

The Hague-based court issued an arrest warrant for Netanyahu on 21 November 2024, saying there were reasonable grounds to believe that he bore criminal responsibility for the war crime of starvation as a method of warfare, and the crimes against humanity of murder, persecution and other inhumane acts in Gaza. “It’s the corruption of the international system. It’s an unelected bureaucracy that sits in The Hague that could arrest American soldiers because you don’t recognize this corrupt body any more than we do,” Netanyahu told Hannity.

“And they could say that the president of the United States is a war criminal. That American soldiers valiantly fighting next to us, shoulder to shoulder against the tyranny in Tehran, that they’re war criminals. They could pick them up.”

The prime minister said he would be coming to New York City for the United Nations General Assembly in September, regardless of what legal avenues, if any, mayor Zohran Mamdani decides to pursue.

“This just hate-spewing elected official [is] pitting one group of New Yorkers against the others. He’s turning them against New York Jews. I mean, what are we, in the 1930s? What is this?” Netanyahu said.

Mamdani has repeatedly said he would protect the right of all Jewish New Yorkers, but Israel has accused him of antisemitism for calling on the federal government to arrest Netanyahu on account of the ICC warrant. 

‘Wall of granite’

Netanyahu spent just under 90 minutes with Trump at the White House on Tuesday before both leaders headed to the Washington National Cathedral for the funeral for South Carolina Republican Senator Lindsey Graham, a staunch and vocal supporter of Israel, and potentially the loudest in Trump’s ear. 

The Israeli prime minister told Hannity the visit with Trump was “one of the best meetings that we’ve had”, but he had also indicated to the Israeli press on Tuesday that it was a meeting among several senior officials, meaning he did not get a private one-on-one with the president. 

Such a decision would suggest Trump’s advisers did not want Netanyahu to influence the president one way or another. “I always hate to disappoint our would-be critics who are trying to find cracks in our alliance, and what they find, like today, is a wall of granite,” Netanyahu told Hannity.

🚨MUST- WATCH: PM Netanyahu was asked what would happen if he were forced to land in a country that recognizes the arrest warrant against him; his answer was wild: “We have IDF special forces in the area” pic.twitter.com/qw7p3T2nsB

— Raylan Givens (@JewishWarrior13) July 29, 2026

Trump himself has sounded less than pleased with Netanyahu’s behavior of late, telling Fox News earlier on Tuesday that Netanyahu wants him to keep attacking Iran when he may no longer want to.

“We have a common commitment. We don’t want to see this fanatic regime in Tehran have nuclear weapons to threaten every American and to threaten the peace of the world and to threaten the existence of Israel,” Netanyahu said. “So we have a common goal, and it’s going to be achieved either through diplomatic means or other means. But we’re both committed to that.”

However, Netanyahu has made it clear he is no fan of those diplomatic means. 

Not long after the US and Iran signed a memorandum of understanding in June, Israel intensified its attacks on southern Lebanon, all the way up to the capital Beirut. 

A key part of the agreement was for Israel to cease hostilities in Lebanon, where it says it’s going after its Iranian ally, Hezbollah.  Trump then told reporters he believed Israel’s attacks were disproportionate and were killing too many civilians. “Do you believe there are moderates that would like a deal and a better Iran?” Hannity asked. “I’m skeptical about the deal, and I say it openly,” Netanyahu said.

“But the only way it would be achieved is if Iran understood these various factions. They’re not ideological factions as much as they differ on the assessment of how tough we are,” he added. “I think at the end, it’s our resolve. It’s our common resolve to make sure that Iran doesn’t get nuclear bombs to threaten every American with.”

The US intelligence community, under the Trump administration, had assessed that there was no imminent threat from Iran before the US and Israel launched their joint war on 28 February – so much so that the director of the National Counterterrorism Center, Joe Kent, resigned within hours of the first missiles being launched. 

The Federal Communications Commission is planning to unveil a series of new trade restrictions on Tuesday afternoon that will ban imports of Chinese humanoid and quadruped robots, as well as connected power inverters. This announcement comes ahead of the expected boom in physical AI.

Chinese company Unitree reveal their “all terrain” wheeled robot.

The military potential for this technology is obvious.

Europe is so far behind China, its scary. pic.twitter.com/DcXnmj6Knx

— Chay Bowes (@BowesChay) July 24, 2026

Reuters was first to report the story: 

The Trump administration on Tuesday plans to unveil new bans that target imports of the latest Chinese robots and power inverters, seeking to protect the U.S. AI buildout from national security threats and reshore key industries slated for explosive growth, U.S. officials said.

There is no exact timing for when the FCC is expected to unveil the trade restrictions this afternoon. Officials said the Chinese-linked technologies could expose U.S. power grids, data centers, and AI infrastructure to disruption, data theft, and cyberattacks.

“The President has made clear that the United States must have independent and secure supply chains for critical and emerging technologies like robotic devices and power inverters,” said an anonymous Trump administration official.

“Economic security is national security, and the Trump administration continues to implement a nuanced and multi-faceted policy agenda to reindustrialize America,” the official added.

The trade restrictions on Chinese robots and power inverters come as new analysis from Citi’s Robotics & Physical AI Leadership Conference assesses where the US stands in the physical-AI cycle as robots move closer to mass production. Read the full report here.

Granma, the official newspaper of the Communist Party of Cuba’s Central Committee, reported Wednesday that Havana is easing restrictions on private businesses and self-employed workers as it attempts to stabilize an economy battered by decades of failed socialist policies and renewed pressure from the Trump administration.

“The updated regulations eliminate restrictions, broaden the scope of business activities for micro, small, and medium-sized enterprises (MSMEs) and cooperatives, and incorporate new opportunities in commerce, transport, industry, and services,” Granma wrote in the announcement.

Under Decree 160, the government removed 46 of 125 previously restricted activities and modified another 35, opening more of the manufacturing, energy, transportation, trade, health, and education sectors to non-state participation.

Cuba now has more than 15,600 private small and medium-sized businesses, a figure the government expects to top 16,000 by the end of August.

The reforms mark a slight pivot toward market-oriented activity, even as Cuban officials insist the opening does not represent privatization or a transition to capitalism.

“This opening does not imply a privatization process,” Lázara Mercedes López Acea, president of the National Institute of Non-State Economic Actors, told the local outlet, “but rather the strengthening of the national business system, maintaining the socialist state enterprise as the main actor, while expanding the participation of other economic actors to contribute to the growth of the economy and a better supply of goods and services for the population.”

López Acea said the new measures respond to “the tightening of the economic, commercial, financial, and energy blockade imposed by the United States government.”

This development comes after Cuba passed its broadest economic overhaul since the revolution, seeking to loosen state control as U.S. sanctions compound fuel shortages, prolonged blackouts, and a deepening financial crisis. The economic collapse was already well underway before President Trump launched his maximum-pressure campaign.

Raúl Guillermo Rodríguez Castro, grandson of former President Raúl Castro, recently said Cuba must diversify its economy, business practices and investment channels while pursuing a distinctly Cuban development model.

Rodríguez Castro told USA Today in a recent interview that he is willing to negotiate Cuba’s future with President Trump.