Snapshots

Argentina

Bolivia

Brazil

Paraguay

Uruguay

A photo shows the national flags of Mercosur countries waving in the wind.

Economics

Global Trade

The South American trade bloc's July 2-3 summit will likely advance two key initiatives: increasing member state autonomy on tariff decisions and finalizing free trade deals with countries seeking to avoid U.S. tariffs.

The Mercosur Summit Will Focus on Advancing Tariff Autonomy and Trade Deals

Armenia

Azerbaijan

Archbishop Bagrat Galstanyan addresses the crowd with a megaphone during a protest in Yerevan, Armenia, on Oct. 25, 2024. 

Military & Security

Politics

The prime minister's escalating dispute with the national church threatens to generate unrest and derail already delayed efforts to implement a contentious peace deal with rival Azerbaijan.

In Armenia, an Archbishop's Arrest Escalates the Prime Minister's Feud With the Church

China

New Zealand

People are seen behind a New Zealand flag during a ceremony celebrating the anniversary of Anzac Day. 

Prime Minister Luxon's recent trip to China marked a high-stakes diplomatic mission aimed at both deepening economic ties with Beijing and signaling New Zealand's more assertive regional posture.

New Zealand's Pivot: Assertive Defense Meets Economic Dependence on China

France

French Prime Minister Francois Bayrou speaks during a press conference at a hotel in Paris on June 24, 2025. 

The collapse of negotiations over potential changes to President Macron's controversial pensions reform will increase the risk of more no-confidence votes against the government, budgetary deadlock and another early election.

In France, the Collapse of Pension Reform Talks Risks Worsening Political Instability

United States

Iran

Israel

Iranian missiles aimed at targets in Israel pass through the sky over the West Bank on June 17, 2025. 

U.S.-Iran Relations

Even if the ceasefire holds in the coming weeks and months, outstanding U.S. and Israeli concerns with Iran's ballistic missile and nuclear programs could reignite hostilities.

The Iran-Israel Ceasefire Will Remain Fragile Amid Unresolved Disputes

Qatar

A photo taken on June 23, 2025, shows the remnants of an Iranian missile intercepted over Qatar. 

Absent further retaliation, Iran's June 23 attack offers a path to de-escalation, but there is still a chance, albeit slim, that additional U.S. strikes trigger a wider conflict.

With a Telegraphed Attack on a U.S. Base in Qatar, Iran Offers an Off-Ramp To Ease Tensions

A Northrop B-2 Spirit on July 4, 2020, near the White House in Washington. 

Energy

Even if carefully calibrated, Iranian retaliation of any form will risk inviting more U.S. strikes and greater escalation that could result in Iran following through on more of its significant threats against the regional oil and gas sector and/or the United States.

Iran's Retaliation Against the U.S. Will Likely Be Limited, but Will Still Risk Escalation

Israeli air defense systems intercept Iranian missiles over Tel Aviv amid a fresh barrage of Iranian rockets on June 16, 2025. Israeli air defense systems intercept Iranian missiles over Tel Aviv amid a fresh barrage of Iranian rockets on June 16, 2025. 

The Israel-Iran conflict is set to evolve into a short war of attrition as Iran pits its degraded missile stocks against Israel's dwindling air defense systems.

Assessing the Trajectory of the Iran-Israel War

Smoke rises from a location allegedly targeted in Israel's wave of strikes June 13, 2025, in Tehran, Iran. Israel and Iran are increasingly likely to expand the scope of their attacks to include targets like each other's political leadership, energy infrastructure and other sensitive targets that would open the door to a wider regional war.

Israel and Iran are increasingly likely to expand the scope of their attacks to include targets like each other's political leadership, energy infrastructure and other sensitive targets that would open the door to a wider regional war.

Israel and Iran's Conflict Intensifies, Raising the Risk of a Regional War

A view of the Bushehr nuclear power plant. Israel's massive strikes on Iran's nuclear and military sites mark a sharp escalation likely to trigger sustained retaliation, regional instability and the collapse of U.S.-Iran nuclear talks.

Israel's massive strikes on Iran's nuclear and military sites mark a sharp escalation likely to trigger sustained retaliation, regional instability and the collapse of U.S.-Iran nuclear talks.



What To Expect as Israel Goes After Iran's Nuclear Program, Military Capabilities

An Israeli Air Force F-16 fighter aircraft on March 24, 2025, over the city of Yokneam Illit in northern Israel.

Israeli launched a "preemptive" strike on Iran in the early hours of June 13, Israeli Defense Minister Israel Katz announced as he declared a special state of emergency inside Israel.

Israel Launches Major Military Strikes on Iran

Cargo shipping containers are seen stacked at the Port of Los Angeles in San Pedro, California, on April 15, 2025. 

Environment, Science & Technology

U.S.-China Relations

Science & Technology

Regardless of any short-term concessions, the U.S. will likely eventually expand the scope of its technology restrictions against China, likely prompting Beijing to retaliate by once again restricting exports of rare earths or other critical raw materials.

U.S.-China Framework To Implement Trade Deal Will Only Temporarily Ease Tensions

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