US Trade & AI Supply Chains: The U.S. trade deficit jumped to $77.6B in May as imports of semiconductors and AI-related gear rose, with Taiwan overtaking China as a top source. EU Settlement Trade Deadlock: EU foreign ministers back a ban on trade with illegal Israeli settlements, but a fight over whether it’s a sanction or a trade measure could stall action for months. Pentagon Cyber Rules Backtrack: The Pentagon paused CMMC Phase II audits after complaints that compliance costs were pushing small defense suppliers out. Gulf Tensions & Shipping Costs: The U.S. announced new strikes on Iran as it moves to “charge” ships for Strait of Hormuz passage, raising fears of wider economic disruption. India-Europe Push: Piyush Goyal urged a “10x10x10” expansion with Spain and led a business delegation to Spain, Belgium and Finland, while India and Qatar plan to fast-track strategic trade and investment ties. Food Prices at the Ballot Box: A new U.S. poll finds voters blame both tariffs/trade limits and big corporations for grocery price hikes, and want federal action. Clean Cooking in Africa: The IEA backed a push to expand clean cooking access, citing 850,000 annual deaths from pollution and new funding commitments. Regional Water-Energy Planning: SADC energy and water ministers meet to boost regional energy security and water sustainability. Small Business Relief: SBA opened disaster loans for Michigan storm damage and injury losses, and also highlighted support for small defense contractors.