U.S. permanent representative to the United Nations said the United States will not accept any illegal levies in the Strait of Hormuz and that Iran does not respect the UN Charter.

Analyst Enda Curran said the oil-price rout had already prompted markets to brace for large swings in inf data, but the labor-market narrative now needs revision as multiple, interacting dynamics play out in the economy.

At a July 2 briefing reporters cited Lai Ching‑te's allegation that "China has weaponized agricultural products," using import bans and higher tariffs, and that Taiwan's agricultural exports to China fell from 20.5% in 2015 to 11.5% in 2025, with the US and Japan now the top two markets. State Council Taiwan Affairs Office spokesperson Zhu Fenglian rejected the accusation, saying the mainland remains an important market for Taiwan agricultural exports and will adopt a series of measures to help Taiwan farmers and fishers expand sales in the mainland, open channels and raise incomes.