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David Sanger explains the weekend’s proposed Iran deal was not about nuclear or missile issues but a memorandum to reopen the Strait of Hormuz, with substantive negotiations deferred up to 60 days.
The Strait’s closure by Iran, a wartime measure, became an economic weapon causing the largest energy disruption in modern history and spiking US gas prices.
Peter Saint Onge says China's economy is slowing with collapsing investment and retail sales, worsened by Trump's tariffs and state-led industrial overcapacity.
The hosts criticize news coverage of a potential Iran deal, highlighting contradictory reports: Trump announced a Sunday signing, Iran denied an imminent date, and Pakistani officials said a digital signing would occur within 24 hours.
Curry and Dvorak dissect media narratives on Iran, noting Fox featured retired generals arguing against a deal while CNN framed the U.S. as losers and Bloomberg cited unnamed sources to cast doubt on an agreement.
President Trump posted on Truth Social that the US will 'be hitting Iran very hard tonight' and declared 'we will be taking Kharg Island and other oil infrastructure points and assume total control of their oil and gas markets'.
Iran declared the Strait of Hormuz closed to all shipping following the US attacks, warning any vessel movement will be targeted and denying the US claim that it controls the strait.
Carlson argues Iran is winning the war by the only metric that matters: control of the Strait of Hormuz, through which a fifth of global commodities flow.
David Sanger notes the Strait of Hormuz closure resulted from the war and provided Iran massive economic leverage, creating the largest energy supply disruption in modern history.
Last April, China cut off exports of critical materials like Samarium and Gadolinium to the US, nearly halting production for companies like Ford and McDonald Douglas, which were days from shutdown. China's "absolute grip" on these minerals will take 10-20 years for the US to counter.
While technology could improve rare earth extraction, processing remains a key bottleneck due to China's dominant technological know-how. The term "rare earths" originated in the 14th century when alchemists struggled to identify new elements found in the earth.
US forces fired on and disabled a Palau-flagged oil tanker in the Gulf of Oman after its crew failed to comply with directions. The crew were Indian nationals.
Tom Luongo argues the Iran conflict is about rewiring global trade away from geographic choke points like the Straits of Hormuz. He claims the goal is to render the British strategy of controlling oil flows obsolete.
Luongo frames the current conflict as World War III, which is primarily economic and psychological. He says the goal is to dismantle globalist choke points and establish an America-Russia-China geostrategic reality.
He asserts the Biden administration's overriding focus on strategic competition with China to sustain American primacy drove flawed policies, including in the Middle East, and advocates for a positive-sum approach to global trade.
He endorses AOC's view that we are in a 'pre-rules-based order,' where hypocrisies have stripped the system of legitimacy. Duss advocates rebuilding international rules to constrain power, seeing it as a positive-sum project versus Trump's zero-sum view.
The CEO of Payments Canada stated 80% of Canadian cross-border payments route through U.S. correspondent banks, framing payment rails as weapons of economic statecraft.