Impact of Leadership Changes on Middle Eastern Dynamics and Trade

1) US President Donald Trump left the Group of Seven leaders meeting in Canada early to deal with the Israel-Iran conflict, but played down the chances of a ceasefire.

2) Israel and Iran have exchanged fire for the fourth consecutive day, sparking fears of an all-out war that could drag in other countries in the oil-rich region and force the US into a more hands-on stance.

3) Senate Republicans plan to delay and make less onerous a levy targeting foreign companies and investors from countries that the US determines have been unfairly taxing US companies.

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