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President Trump Welcomes King Charles III
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And he did so with a remarkable address outside of the White House. President Trump: Here in the shadows of monuments to George Washington, Thomas Jefferson, honoring the British king might seem an ironic beginning to our celebration of 250 years of American independence, but in fact, no tribute could be more appropriate. Long before Americans had a nation or a constitution, we first had a culture, a character, and a creed. Before we ever proclaimed our independence, Americans carried within us the rarest of gifts: moral courage, and it came from a small but mighty kingdom from across the sea. For nearly two centuries before the revolution, this land was settled and forged by men, women who bore in their souls the blood and noble spirit of the British. Here on a wild and untamed continent, they set loose the ancient English love of liberty and Great Britain’s distinctive sense of glory, destiny, and pride, and that’s what it is: glory, destiny, and pride…. So today, we look back on 250 years. Let us remember what has made our countries the two most exceptional nations the world has ever known, and together, let us go forward with even stronger resolve to carry on our sacred devotion to liberty and to the traditions of excellence that have been our shared gift of all mankind (text: Examiner; video: CBS).
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King Charles III Addresses Joint Session of Congress
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A speech from British royalty will not—in and of itself—repair the breach that has strained relations. But the King did well. He was a bit more political than was Trump, but he captured the unique bond between our two nations. King Charles: The Founding Fathers were bold and imaginative rebels with a cause. 250 years ago (or, as we say in the United Kingdom, just the other day….) they declared Independence. By balancing contending forces and drawing strength in diversity, they united thirteen disparate colonies to forge a Nation on the revolutionary idea of ‘life, liberty and the pursuit of happiness’. They carried with them, and carried forward, the great inheritance of the British Enlightenment – as well as the ideals which had an even deeper history in English Common Law and Magna Carta. These roots run deep, and they are still vital…. The story of the United Kingdom and the United States is, at its heart, a story of reconciliation, renewal and remarkable partnership. From the bitter divisions of 250 years ago, we forged a friendship that has grown into one of the most consequential Alliances in human history (text: Town and Country; video: CNBC). The day ended with a state dinner at the White House.
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Trump: Iran in a ‘State of Collapse’
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The president on Tuesday: Iran has just informed us that they are in a “State of Collapse.” They want us to “Open the Hormuz Strait,” as soon as possible, as they try to figure out their leadership situation (Which I believe they will be able to do!) ( Truth). Dmitri Bolt at Townhall: It is unclear to what extent the country is “collapsing,” although it likely points to economic collapse, as Iran has been prevented from exporting its most crucial product, oil. Over the past week, the country has struggled to find places to store its excess crude, reluctant to shut in oil wells for fear of causing damage and permanently reducing production capacity. The regime has gone to great lengths to avoid doing so, reactivating a 30-year-old retired supertanker capable of storing two million barrels of oil, rebuilding derelict storage tanks, and even sending oil to China by rail to buy time ( Townhall). Iran International reports on the rifts developing within the regime: A widening split over how to deal with the United States has reached the deepest layers of Iran’s hardline establishment, surfacing in state-linked media and among factions that have long presented a united front under the banner of revolutionary loyalty…. In recent days, hardline lawmakers and commentators have increasingly criticized the negotiating team. Jalili himself appeared to escalate tensions when he called on Mojtaba Khamenei to clarify publicly whether ongoing actions reflected his directives. In a now-deleted post, he wrote that if no such message was issued, “there is one hundred percent a ‘sedition of officials,’ and all these statements are written by the coup plotter himself” ( Iran).
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UAE to Leave OPEC
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It’s a major blow to the oil cartel. Wall Street Journal explains the reasons: The war in Iran has piled on more pressure by exacerbating rifts among the Arab countries at the core of the group and by closing the Strait of Hormuz, through which the group’s biggest producers export most of their oil, making it impossible for the group to influence the market during its biggest supply shock. The U.A.E. is in a relatively privileged position with the ability to circumvent the blockage in the strait by routing more than half of its oil exports across the country. Withdrawing from OPEC will give it more freedom to make investments to expand its output and adjust to the uncertain future of the waterway. The withdrawal of the UAE could be devastating to OPEC. More from the Journal: “It’s the hardest blow ever,” said Homayoun Falakshahi, a senior oil analyst at commodities data company Kpler. “It raises the question about whether OPEC can survive” ( Wall Street Journal). New York Times explains the potential impact on prices: Its departure from OPEC means little for oil prices at the moment because the U.S.-Israeli war with Iran has forced producers across the Persian Gulf to slash production. But in the long term, the move could contribute to greater volatility since less oil will be subject to production controls ( New York Times). The UAE was the third-largest oil supplier in OPEC, after Saudi Arabia and Iraq ( Bloomberg).
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The UAE’s Departure From OPEC: How Will it Impact Conflict With Iran?
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The short of it: It will make the Strait of Hormuz considerably less relevant. John Spencer calls it a game changer: Iran’s massive strategic blunder was playing that card [weaponizing the Strait of Hormuz] – what @SecRubio called the economic nuclear weapon. Motivating all Gulf States to increase/create alternatives. Ultimately brining market stability and removing Iran’s option to use the strait as a weapon ( Spencer). Arab writer Ahmed Khalifa: After leaving OPEC, with its Fujairah pipeline bypassing the Strait of Hormuz, UAE can now ramp up freely potentially adding around 2 million extra barrels a day and helping break the high-price grip ( Khalifa). An earlier argument, also from John Spencer (on bypassing the Strait): The Strait of Hormuz is not an unavoidable fact of geography. It is a problem of infrastructure and strategy. The world has spent decades defending it. Now, the world needs to start investing in ways of bypassing it, and sustained risk should provide enough market pressure to accelerate those alternatives ( Washington Post).
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Today: Supreme Court to Hear Case Impacting Trump Administration’s Deportation Efforts
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This is the last day of regularly arguments for the term. At issue is whether or not the administration can strip temporary legal status from various immigrant communities, opening the door for deportation, most immediately, Haiti and Syria. Amy Howe at SCOTUSblog: The Trump administration argues first that courts cannot review DHS’ decision to end the TPS designations for Haiti and Syria. It points to a provision in the law establishing the TPS program indicating that “[t]here is no judicial review of any determination” of the DHS secretary “with respect to the designation, or termination or extension of a designation, of a foreign state.” This means, the government emphasizes, that if a lawsuit – like these – “is directed at a specific TPS designation, termination, or extension,” it “is unreviewable” ( SCOTUSblog). Carrie Severino of the Judicial Network: The consolidated Temporary Protected Status cases argued …. in Trump v. Miot and Mullin v. Doe are very similar to prior cases where the Court has stayed lower courts that blocked TPS terminations. SCOTUS should reach the same conclusion here: Congress made clear in the Immigration and Nationality Act that for Temporary Protected Status, “[t]here is no judicial review of any determination” regarding “the designation, or termination or extension of a designation, of a foreign state” ( Severino).
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Former FBl Director James Comey Indicted Again
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This time over the image he posted on Instagram in May 2025: “86 47” with the comment, “cool shell formation on my beach walk.” Wall Street Journal: Trump officials at the time said it was a threat to encourage killing Trump, as “86” is old-time slang for “get rid of” and Trump is the 47th president. Comey—whose long career in law enforcement included investigations of organized crime and the Italian Mafia—said at the time that it didn’t occur to him that it would be read as a threat, and that he opposed such violence. The Secret Service questioned Comey in May 2025 about the post ( Wall Street Journal).
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Key Aid to Anthony Fauci Indicted
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David Morens, 78, served as a senior advisor to Fauci in NIAID (the National Institute of Allergy and Infectious Disease) from 2006 through 2022. He’s being charged with evading Freedom of Information Act (FOIA) requests over COVID-19 research grants. From the DOJ: “ These allegations represent a profound abuse of trust at a time when the American people needed it most — during the height of a global pandemic,” said Acting Attorney General Todd Blanche. “As alleged in the indictment, Dr. Morens and his co-conspirators deliberately concealed information and falsified records in an effort to suppress alternative theories regarding the origins of COVID-19. Government officials have a solemn duty to provide honest, well-grounded facts and advice in service of the public interest — not to advance their own personal or ideological agendas” ( Justice). Matt Margolis at PJ Media: Justin Goodman of White Coat Waste called the indictment a start, not a finish. “Morens wasn’t a lone wolf, and other lab leak cover-up lackeys are still in government raking in taxpayer-funded salaries,” Goodman said. “Morens’ indictment should be the beginning—not the end—of long-overdue lab leak accountability at NIH.” Morens faces up to five years on the conspiracy charge, up to 20 years on each records-falsification count, and up to three years on each concealment count. For years, the American public was told COVID’s origins were settled, that questions were dangerous, and that the people asking them were the real problem ( PJ Media).
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California Wealth Tax Officially Qualifies for November Ballot
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A uniquely destructive idea will now be decided by Golden State voters via ballot referendum. It has not even passed yet and—according to a new study—$ 777 billion has already fled the state. Wall Street Journal’s Editorial Board: Progressives are testing how much ruin there is in California. On Sunday they said they’ve gathered enough signatures to place a wealth tax referendum on the November ballot, even as a new study shows it is likely to result in less state revenue…. Billionaires are already leaving the state. California Tax Foundation visiting fellow Jared Walczak estimates in a new paper that “reported departures already total $777 billion,” and more “‘quiet departures’” that do not draw media coverage” are likely this year since “there are solid legal reasons to believe that the initiative’s residency date and approach could be challenged successfully in court.” By his estimate, the wealth tax exodus could total $1.23 trillion and reduce annual state tax revenue by $3.53 billion to $4.49 billion, mainly from lower income-tax collections. He calculates that “the net present value of these ongoing losses outstrips the one-time revenue projected by the initiative’s proponents effects.” That means the tax will over time cost the state more revenue than it raises because of out-migration and slower economic growth ( Wall Street Journal).
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Consumer Confidence Rises in April
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It’s particularly notable in light of the conflict with Iran. The labor market improved as well. Breitbart: Consumer confidence rose in April to the best level of the year, as consumers took a more optimistic view of the jobs market and their income prospects…. The gains are particularly notable given the headwinds consumers faced during the April 1–22 survey period. Brent crude oil prices surged on the back of the Middle East conflict, sending gasoline prices visibly higher at the pump. The Conference Board’s own write-in data showed that consumer mentions of prices, oil and gas, and war all increased in frequency compared to March…. The nearly four-point beat over the consensus estimate suggests that economists may have overweighted the impact of energy prices and geopolitical anxiety on consumer attitudes while underweighting the stabilizing effect of a labor market that continues to show resilience. The March jobs report showed a rebound in hiring, with 178,000 positions added and the unemployment rate ticking down to 4.3 percent ( Breitbart).
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