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The United States is simultaneously escalating military confrontation with Iran in the Strait of Hormuz and deepening economic engagement with China, as President Trump leads a high-profile business delegation to Beijing while a federal court strikes down his global tariffs.
May 2026
Week of May 11, compared to 12-week average
Top sources covering United States
The US economy is in a contradictory phase: a court ruled Trump's global tariffs illegal, but Trump is pushing Xi for China payments market access and farm deals. Major firms like Google and Blackstone are creating a new AI cloud company, while Nvidia continues its record-breaking streak and Amazon launched 30-minute delivery.
Trump's summit with Xi in Beijing produced few concrete wins, with no major Iran war breakthroughs and an invitation for Xi to visit the US. Iran sent a response to the US proposal to end the war via Pakistan, and the US says a peace deal is 'largely' negotiated, but Iran vows to defend its interests.
The US and Iran are in active military confrontation near the Strait of Hormuz, with exchanges of fire, new US strikes on Iranian military sites, and oil prices jumping. The US also withdrew about 5,000 troops from Germany and killed ISIS's second-in-command with Nigerian forces.
A chemical disaster threat in Southern California has forced 40,000 residents under evacuation orders, with the governor declaring a state of emergency. Separately, the Trump administration ordered green card applicants to leave the US and apply from home countries, and an Ebola-infected US citizen is being treated in Germany.
