Louisiana voters are participating in a Republican Senate runoff on Saturday, with Rep. Julia Letlow and state Treasurer John Fleming contesting to replace former Sen. Bill Cassidy. Letlow received over 44% in the primary, while Fleming garnered 28%. The winner is expected to confidently progress to the Senate.

The U.S. military conducted strikes on Iranian missile and drone facilities following Iran’s attack on a commercial vessel in the Strait of Hormuz, which violated a recent ceasefire. CENTCOM described the action as a necessary response, marking the first U.S. military engagement since the ceasefire extension.

President Trump has threatened to implement a 100% tariff on nations imposing a digital services tax on U.S. companies. He stated that any country proceeding with such a tax would face immediate import duties, overriding existing trade agreements. Approximately half of OECD European members have proposed or enacted similar taxes.

Leon Black, co-founder of Apollo Global Management, is set to testify before the House Oversight Committee regarding his financial dealings with Jeffrey Epstein. Senator Ron Wyden has questioned Black’s payments exceeding $170 million for services purportedly related to tax advice and estate planning, amid ongoing scrutiny over Epstein’s criminal activities.

EUROPEAN UPDATE

This morning, European Union leaders address energy security and economic stability in response to recent geopolitical tensions.
Key discussions centre on collaborative strategies moving forward.

Iran’s Revolutionary Guards targeted a Singapore-flagged vessel in the Strait of Hormuz with a drone strike, damaging the ship’s bridge. The United Nations’ International Maritime Organization has paused a planned evacuation of vessels in the Persian Gulf, citing safety concerns following the incident. No casualties were reported.