July 4, 2026

China To Import Record Amount Of US Ethane As Iran War Chokes Off Naphtha, LPG Supplies One year ago, in the immediate aftermath of Trump's Liberation Day tariffs, there was a flurry of discussion over who is more reliant on whom: the US on Chinese rare earth materials, or China on US ethane output (see "Chinese Plastics Factories Face Mass Closure As US Ethane Supply Evaporates" and "Who Blinks First? China May Exempt Tariffs On US Ethane & Other Goods"). Following the detente in the US-China trade war, that discussion was...

White House Rejects 'Complete Fabrication' Of Peace Framework Reports From Iranian Side Summary White House rejects 'complete fabrication' of Iranian TV reporting on MOU and draft deal status. IRGC keeping up the rhetoric: warns that Iran would "turn the area from Chabahar to Mahshahr into a graveyard for aggressors" if the ceasefire collapses. CENTCOM: "Clearly the Iranians are trying to hedge their bets here and put more pressure on the US." Iranian president: "The main battleground today is the economic war." Tabriz International Airport in northwestern Iran- which sustained heavy damage from airstrikes during the...