Iran Economic Pressure: U.S. Treasury Secretary Scott Bessent says Washington will hit Iran “hard economically” next week with measures “never seen before,” alongside an indefinite Strait of Hormuz blockade, as talks stall. Trade Negotiations: Canada and the U.S. are still far from a tariff-reduction deal, with any agreement expected to keep some tariffs on steel, aluminum, autos and lumber while Canada presses for substantial cuts. EU-US Friction: The EU pushed back on renewed U.S. trade pressure, arguing its green and human-rights rules can’t be negotiated away even as Washington claims Brussels enables tariff evasion. Global Growth Outlook: The World Bank cut its 2026 growth forecast to 2.5% amid Middle East-driven energy and inflation shocks, while warning AI investment could soften the blow but also raise bubble risks. Regional Trade Boost: Nigeria-China trade jumped 35% to $18bn in H1 after China’s zero-tariff policy for African countries took effect May 1. State-Level Finance: Oklahoma reported FY2026 General Revenue Fund collections $612m above estimate, freeing up reserve-held funds as the state heads into the next legislative session. Innovation Spending: Pennsylvania’s 2026-27 budget sets aside $125m for “Innovate in PA 2.0,” aiming to expand venture capital and commercialization in robotics, life sciences and manufacturing.