Asia-Pacific markets showed mixed results Wednesday as investors navigated hotter-than-expected April inflation, Middle East tensions, and anticipated Trump-Xi trade discussions, with gains ranging from Korea's 2.6% surge to Taiwan's 1.3% decline.
Defense Secretary Pete Hegseth testifies on Capitol Hill about the Iran war and rising costs.
The Pentagon considers renaming its Iran military operation to "Operation Sledgehammer" if hostilities resume, which would restart the 60-day congressional approval clock under the War Powers Resolution, amid stalled peace negotiations and ongoing regional blockades.
South Korea's government plans to join the CPTPP trade agreement and resume FTA negotiations with Mexico to expand economic opportunities while participating in international initiatives securing Strait of Hormuz freedom of navigation.
Defense Secretary Hegseth defended the Trump administration's $1.5 trillion military budget request while facing bipartisan congressional scrutiny over the Iran conflict, which has cost $29 billion and raised concerns about depleted munitions stockpiles and strained NATO relationships.
Iran retains access to most of its underground missile sites and capabilities.
Satellite images confirm an Iranian military aircraft is at a Pakistan airbase, challenging Pakistan's mediator role in US-Iran talks.
President Trump visited China in May 2026 to meet Xi Jinping, primarily addressing trade tensions from escalating tariffs while downplaying Iran concerns, accompanied by major U.S. corporate executives seeking business opportunities.
Trump's administration formally approved construction of 15 nuclear-powered megaships, with the first costing $17.5 billion and launching in 2036, to counter China's military growth, sparking debate over astronomical costs and nuclear weapons escalation risks.
Tổng thống Trump đến Trung Quốc cùng Bộ trưởng Chiến tranh Pete Hegseth, lần đầu tiên kể từ 1972.
US lawmakers press Hegseth on Trump's China trip amid allies’ concerns over Beijing
Seoul weighing phased contribution to Strait of Hormuz security: Defense Minister
U.S. Intelligence Shows Iran Retains Substantial Missile Capabilities
Korean and US defense chiefs agreed to strengthen alliance cooperation during a meeting at the Pentagon.
US Senator Lindsey Graham questions Pakistan's credibility as a mediator in US-Iran negotiations.
Men are increasingly obsessed with testosterone as a key to achieving a new male ideal.
A protester interrupted Defense Secretary Pete Hegseth's testimony, accusing him of being complicit in war crimes.
South Korea's defense minister said Seoul may support the U.S.-led effort to secure the Strait of Hormuz, offering military personnel and information-sharing after a South Korean vessel suffered Iranian attacks in the critical waterway transporting twenty percent of global oil.
South Korea signals phased support for the US-led Hormuz mission after a ship attack.
US intelligence indicates Iran retains significant missile capabilities despite Trump administration claims.
South Korea's security chief said the nation is reviewing potential military roles in U.S.-led Hormuz initiatives following an unexplained explosion aboard a Korean cargo ship, with possible contributions ranging from minimal to substantial involvement.
Defense Secretary Hegseth faced bipartisan congressional scrutiny over the Iran war's rising $29 billion cost, depleting U.S. munitions stockpiles, and strained NATO relations, while defending the Trump administration's military strategy and weapons production plans.
President Trump traveled to China for talks with Xi Jinping amid Iran tensions costing nearly twenty-nine billion dollars, as the US maintains an economic blockade while Pakistan mediates peace negotiations between the two nations.
President Trump dismissed concerns about inflation from the Iran war, stating he doesn't consider Americans' financial situation when negotiating with Iran, as inflation surged to 3.8 percent and Pentagon costs reached $29 billion.
Trump supports Pakistan as a mediator between the US and Iran despite criticism from Senator Lindsey Graham.
Trump and Defense Secretary Hegseth warned Tuesday the U.S. could resume strikes on Iran, citing stalled negotiations over Tehran's demands for reparations and Strait of Hormuz control, while Iran threatened weapons-grade uranium enrichment if attacked.
The Pentagon reported US spending on the Iran war reached $29 billion as of May 2026, while international coalitions mobilized to secure Middle Eastern shipping routes and diplomatic efforts, including Trump's China summit discussions, continued amid ongoing tensions.
Hegseth defends Iran war, China trip
UN Pressure Mounts Over Strait of Hormuz Crisis
The Pentagon revised the Iran war cost to nearly 29 billion dollars, up 4 billion from previous estimates, citing increased equipment repair and Middle East operations, while Democratic lawmakers criticized lack of transparency on strategic objectives and weapon depletion concerns.
Hegseth faces bipartisan grilling about weapons drawdown during the Iran war
Defense Secretary Hegseth warned the U.S. could escalate operations in the Middle East while Iran threatened weapons-grade uranium enrichment, as a month-old ceasefire deteriorated amid rejected peace proposals and rising regional tensions.
The US expects Mexico to intensify its fight against cartels to avoid US intervention.
Defense Secretary Pete Hegseth faces congressional questioning over the Iran war.
President Trump visited China for a three-day summit with Xi Jinping amid ongoing Iran conflict, discussing Taiwan arms sales, trade disputes, and regional tensions with Secretary of State Rubio and Defense Secretary Hegseth present.
Pakistan has been hosting Iranian military jets during Middle East conflicts for years, according to NDTV analysis and satellite images.
US Secretary of War Pete Hegseth defends Iran war and Trump's China trip plans.
Iran restored operational access to 30 of 33 missile sites along the Strait of Hormuz and retained 70 percent of its missile arsenal, contradicting Trump administration claims that Iranian military capabilities were decimated during joint U.S.-Israeli operations.
Defense Secretary Hegseth faced bipartisan congressional scrutiny over the Iran war's rising $29 billion cost, depleted munitions stockpiles, and Trump administration strain on NATO alliances during defense budget hearings.
President Trump traveled to China to meet President Xi Jinping, prioritizing trade discussions to resolve tariff tensions while downplaying Iran concerns as a negotiation topic with Chinese leadership.
President Trump dismissed concerns about inflation from the Iran war, stating he does not consider Americans' financial situation when deciding on peace deals, as inflation surged to 3.8 percent and war costs reached $29 billion.
Defense Secretary Hegseth defended Trump's proposed $1.5 trillion 2027 defense budget before Congress, as lawmakers questioned the Iran war's escalating $29 billion cost and its impact on military readiness and weapons supplies.
The US considers renaming its Iran conflict operation if the ceasefire agreement collapses.
Defense Secretary Hegseth defended a $1.5 trillion Pentagon budget before Congress while military expenditures in Iran operations mounted, highlighting fiscal pressures as geopolitical tensions escalated amid broader defense spending debates.
Why Has J.D. Vance Been Quiet about China?
Hegseth gets bipartisan grilling on rising costs of the Iran war and Trump's end game
Iran threatened 90% uranium enrichment and expanded its strategic control over the Strait of Hormuz amid stalled US negotiations, escalating regional tensions as the $29 billion conflict threatens one-fifth of global oil trade.
Defense Secretary Hegseth defended the Trump administration's $1.5 trillion military budget request while facing bipartisan congressional scrutiny over the Iran war's escalating $29 billion cost, depleted munitions stockpiles, and strained NATO relationships amid unclear strategic objectives.
The Pentagon estimates the US-Iran war has cost $29 billion so far.
The 2026 federal budget will address economic challenges and intergenerational inequity.