Iran
Iranian currency hits a record low against the dollar amid U.S. 'Economic D-Day' threats
After all the threats given and received from both parties, U.S. President Donald Trump continues to ramp up economic pressure on Tehran. Iranian leaders warned neighboring countries against providing aid — claiming that these threats exploited the United States for having their backs against the wall. But as of today, Iran's currency has dropped to a record low, and the U.S. plans to continue to make things worse. U.S. Treasury Secretary Scott Bessent is expected to make a statement later today providing further details, while Trump believes Iran is collapsing.
Canada
Trade war escalates between the United States and Canada
On Monday, U.S. President Donald Trump threatened to impose a new 50% tariff on Canadian automobiles, car parts and steel. This would start at the beginning of next year, right after trade talks fell through between the two countries, prompting the United States to impose 50% tariffs on $20 billion worth of Canadian goods. Ontario Premier Doug Ford said Monday in an interview with the AP that Ronald Reagan would be "throwing up" over Trump's trade policies and threatened to cut off electricity and critical minerals to the United States if the Canada-U.S. trade fight worsens.
Ukraine
European Commission approves €6.1 billion defense package for Ukraine
Following constant heavy strikes between Russia and Ukraine, European Commission President Ursula von der Leyen said, "On Ukraine's Independence Day, Europe shows our support is unfaltering and concrete. Today, we have approved €6.1 billion for the air and missile defence systems, missiles, ammunition and radars that Ukraine urgently needs." This statement comes after Norway said it would provide an additional $9 billion in funding in 2027.
