Iran rejected the US peace framework. Trump rejected Iran’s counter-proposal. Both sides are still talking through Pakistan. Trump flies to Beijing in three days, and China holds leverage over everyone in this negotiation.
① Iran’s counter-proposal was rejected overnight. The US sent back a response. A third exchange of proposals is underway as the Beijing summit clock runs down.
② Netanyahu told 60 Minutes he wants to draw US military aid to zero and said regime change in Iran remains the goal.
③ Israel killed 75 people in Lebanon in 48 hours under the “ceasefire” the US brokered. The Lebanese delegation heads to Washington Wednesday.
④ American refiners are shipping diesel to Asia for premium prices. US distillate inventories are draining heading into harvest season. July is the number to watch.
“Whenever the people are well informed, they can be trusted with their own government.” — Thomas Jefferson, 1789
