The day's theme: states reaching directly into markets, products and supply lines — a tariff on a G20 economy, a binding order to rebuild a tech platform, and the rising price of contested corridors.

Trade

  • The US imposed a 25% tariff on imports from Brazil on Trump's order, widening the trade war to the world's tenth-largest economy and a major commodity supplier — with retaliation and price shocks the open questions. more

European Union

  • The European Commission issued Google binding, EU-wide orders to open Android and search to rival AI assistants and search engines under the Digital Markets Act — enforcement that changes a gatekeeper's products directly, without a prior court finding of abuse. more

Security and supply chains

  • Some shipping firms are refusing even US-military-guided transits of the Strait of Hormuz after Iranian attacks, per Reuters — a closed chokepoint now priced into routine commercial calls. more
  • The US Air Force is planning 11,200 JASSM and LRASM missiles through Lockheed Martin, and Ukraine is presenting its war-hardened grid as a model — the through-line being that control over corridors, munitions and industrial capacity is the real currency of power. more