The Political Markup for May 4, 2026
Politics
Clarence Thomas is the second-longest-serving Supreme Court justice in history.
Economy
Suppliers to U.S. manufacturers face delays and higher prices due to Trump and Israel’s war with Iran.
Unilever is raising prices on its consumer goods due to the war.
International investors and pension funds are reducing their investments in the U.S.
Morgan Stanley says there’s a backlog of business deals waiting to happen and that Trump’s policy to limit regulations is helping.
Iran War
Iran is on the same pace to build a nuclear weapon, despite the U.S. attack last summer and its war with Iran on behalf of Israel.
The U.S. and Iran began attacking each other again, and the United Arab Emirates also took fire from Iran.
The U.S. is offering a currency swap with the United Arab Emirates due to the financial challenges the country is facing since the war. The U.S. currently only has this partnership with the established economies of Europe, England, Japan, Canada, and Switzerland.
The war has caused inflation in the Philippines to reach 7.2 percent.
International
Trump is reportedly ending his effort to manage a ceasefire and facilitate redevelopment in Gaza.
The UK raised its terrorism threat level, indicating an attack could be imminent.
Poland is increasing its defense spending and providing emergency response training for its citizens.
It’d take 10 years and $340-720 billion annually for Europe to establish a new world order, as Trump pulls back U.S. leadership.
Claudia Sheinbaum announced new policies for economic investment in Mexico. Mark Carney recently announced similar policies, as Canada and Mexico head into trade talks with the U.S.
The EU and UK are loaning Ukraine $105 billion to help with its war against Russia.
Sweden seized a Russian tanker in the Baltic Sea.
Israel continues its attacks in Lebanon.
Trump and Xi Jinping are meeting in Beijing May 14-15, and Brazilian president is meeting with Trump this week in Washington.