Latest news for 14 July 2025

CHINA

We don’t want your chips.

Arguing “there’s plenty of computing capacity in China already”, Nvidia chief Jensen Huang has dismissed claims that China’s military uses US-made chips (like Nvidia’s), citing Beijing’s national security concerns. Huang has become a regular critic of US chip curbs against China. (CNN)

Comment: At least one paper contradicts Huang, citing evidence the People’s Liberation Army has bought many US-designed chips for its next-gen AI systems.

ISRAEL

Israel blames error for deadly drone strike.

Israel says a technical error led to a drone strike that hit a crowd of Gazans in line for water, reportedly leaving ten dead (including six children). (BBC)

NORTH KOREA

Neighbours and BFFs.

During his latest visit to Pyongyang, Russian envoy Sergey Lavrov has warned the US, South Korea, and Japan against forming an anti-North Korea alliance. The North also pledged it would “unconditionally support” Putin’s war on Ukraine. (BBC)

Comment: It’s classic Kremlin strategy: make threats while trying to look scary (in this case by getting another pledge from Pyongyang). Meanwhile, these blossoming Russia-North Korea ties must be unsettling for China, which has long seen Korea’s Kim family as answering to Beijing, not Moscow.

EUROPEAN UNION

We’ll trade you.

The EU has delayed its plans to hit US imports with over $25B in retaliatory tariffs, after President Trump announced new 30% levies on both the EU and Mexico. Meanwhile, the bloc continues seeking to curb its reliance on the US via new deals, announcing a joint push to finalise talks with Indonesia after nine years. (FT $)

Comment: Trade these days is all about flexibility and adaptability. But they’re not the adjectives we’ve traditionally heard to describe Brussels. Still, everyone seems keen to get some kind of deal over the line by August, and the EU likely sees this latest US announcement as a pressure tactic to that end.

AUSTRALIA

Commitment issues?

Canberra’s defence industry minister has declined to engage in hypotheticals around whether Australia might back the US in any possible future US-China war, though he’s emphasised it’s ultimately a decision for Australia’s government. (ABC)

Comment: He was responding to reports that Washington wants these kinds of guarantees in exchange for helping the Aussies get nuclear-powered subs. The latest word there is DC’s internal review is still in the works, but it’s all awkward timing for Australia’s prime minister, who’s currently on an official visit to China.

UNITED STATES

Turning point for Ukraine?

Word is President Trump will today (Monday) announce an “aggressive” new weapons plan for Ukraine, including not just Patriot air defences (reportedly EU-financed) but also offensive systems. It comes after months of Putin ignoring US ceasefire proposals. (Kyiv Independent)

Comment: Trump is also scheduled to meet NATO chief Mark “Marky Mark” Rutte today.

IRAN

So about those talks...

Foreign Minister Araghchi has suggested Iran would be willing to resume nuclear talks… if the US guarantees it won’t strike again. (AP)

Comment: Based on the years of these circuitous talks, we’re guessing DC wouldn’t make any such commitment unless Iran ditches its nuclear program.