Wall Street Journal reports the U.S. government has proposed in talks with Mexico to revise the USMCA by raising the required U.S.-content threshold above the current 75%.

Hungary's Prime Minister Magyar clarified that the total EU funds released to date amount to €16.4 billion.

Iran’s Islamic Revolutionary Guard Corps said it launched a large-scale missile and drone strike on a US base in Kuwait this morning in retaliation for an attack on Abbas Port and that such operations will continue as a new routine; Iranian state media also reported Iran’s air defenses shot down a US drone near Bushehr. The US military said it intercepted five Iranian drones and struck Iranian military sites; US Treasury Secretary Bessent said Washington will maintain maximum pressure on Iran and has warned firms and states not to pay any proposed passage fees. Washington has added Iran’s Persian Gulf Strait Authority to its sanctions list and placed the UN special rapporteur for the West Bank and Gaza under sanctions. Iran warned it controls and manages the Strait of Hormuz, said it will decisively respond to any interference, and reported warning shots at four vessels near the strait; Gulf states condemned the Kuwait attack, with the UAE explicitly blaming Iran. Israel ordered the military to occupy 70% of Gaza and carried out strikes in Beirut reportedly aimed at Iranian militia commanders; the IDF detained five militants in Judea and Samaria. On negotiations, Iran says frozen assets must be released unconditionally; US and Iranian officials reportedly agreed on a memorandum of understanding that still requires final approval, while Tehran’s leadership has not formally endorsed any deal and Iran’s deputy foreign minister said it will not sign agreements contrary to national interests.