The Trump administration rolled out new tariffs on 60 countries overnight in what it says is an effort to combat forced labor, effectively replacing the levies the Supreme Court struck down in February. At the same time, President Donald Trump is reportedly sending additional forces to the Middle East as attacks on Red Sea shipping push oil prices above $100 a barrel for the first time in months.
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Meanwhile, a fast-moving wildfire threatens a popular resort town on France’s Mediterranean coast during Europe’s peak travel season. And back in Washington, Trump is set to attend the rescheduled White House Correspondents’ Association dinner tonight.
Here are five stories worth following:
Quote Driving the News:
“Today’s forced labor justification is too convenient to be taken seriously,” Democratic Rep. Richard Neal of Massachusetts, on the Trump administration’s justification for new tariffs.
Trump Administration Announces New Blanket Tariffs
What we’re watching: After its temporary 10% blanket tariff on most imports expired at midnight, the Trump administration announced a new tariff regime that imposes taxes of 10% to 12.5% on imports from 60 countries and jurisdictions accounting for 99% of U.S. imports, including the European Union.
Why it matters: The replacement tariffs follow a Supreme Court ruling earlier this year that struck down the administration’s original global tariffs, as well as temporary levies that expired at midnight. The administration’s justification for the levies is that the impacted countries inadequately enforced bans on goods made by forced labor, which EU leaders and others deny. The new policy could influence inflation, supply chains and relations with key trading partners.
Trump Weighs Expanding Iran War as U.S. Builds Up Forces
What we’re watching: Trump is reportedly sending additional fighter jets and special operations forces to the Middle East as the conflict with Iran escalates. In an interview published Thursday, Trump said he is “close” to deciding on a “massive attack” against Iran, adding that Tehran “hasn’t received enough pain yet” and that negotiations remain off the table for now.
Why it matters: The military buildup signals the administration is preparing for the possibility of a broader regional conflict even as casualties, costs and political scrutiny continue to mount. Any decision to expand the war could deepen U.S. involvement in the Middle East, further threaten global energy markets and test congressional support for the administration’s strategy.
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Oil Tops $100 a Barrel Amid Red Sea Attacks
What we’re watching: Oil prices surged above $100 a barrel on Thursday for the first time since May after Iran-backed Houthi rebels based in Yemen attacked two Saudi oil tankers in the Red Sea, threatening another major global shipping route. The spike came as the U.S. continued strikes on Iran and Trump warned Tehran it would face further consequences if Houthi attacks continue.
Why it matters: The attacks have intensified fears that disruptions in both the Red Sea and the Strait of Hormuz could constrain global energy supplies, drive up fuel costs and worsen inflation. Analysts warn sustained fighting could push oil prices even higher, with higher gasoline prices and broader economic impacts likely to follow.
Trump to Attend Rescheduled White House Correspondents’ Association Dinner
What we’re watching: Trump is expected to attend the rescheduled White House Correspondents’ Association dinner tonight, after April’s event was disrupted when a man stormed the venue armed with a shotgun, pistol and knives, firing at Secret Service agents and was stopped before reaching the ballroom.
Why it matters: Journalists and press freedom advocates are urging attendees to push back against the Trump’s ”concerted effort to undermine the First Amendment,” including federal prosecutors’ subpoenas of New York Times journalists over their reporting on Air Force One, the administration’s lawsuits against news outlets and Trump’s pressure campaigns to fire or suspend late night hosts critical of him, including Jimmy Kimmel and Stephen Colbert.
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States With the Highest Gas Prices
European Wildfires Force Evacuations
What we’re watching: Destructive wildfires are spreading across Europe as extreme heat and dry conditions fuel new blazes, including one that forced the evacuation of more than 10,000 people near the French Riviera resort town of Saint-Raphaël. Hundreds of firefighters, aircraft and emergency crews remain deployed as authorities warn that the fire remains difficult to contain.
Why it matters: The fire is the latest in a series of destructive blazes fueled by Europe’s prolonged heat wave, which has strained emergency services across the continent during the peak summer travel season. Officials warn that continued hot, dry conditions could allow more fires to ignite in the coming weeks, threatening communities, tourism and critical infrastructure.
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