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AP reports, Iran and the United States are expected to meet in Oman, for the first talks in President Donald Trump’s second term, over Tehran’s rapidly advancing nuclear program. No agreement is immediately likely, but the stakes of the negotiations couldn’t be higher for these two nations closing in on half a century of enmity. Trump repeatedly has threatened to unleash airstrikes targeting Iran’s nuclear program if a deal isn’t reached. Iranian officials increasingly warn that they could pursue a nuclear weapon with their stockpile of uranium enriched to near weapons-grade levels.

White House envoy Steve Witkoff was in Russia on Friday to meet with Russian President Vladimir Putin after peace talks with Ukraine stalled out in recent weeks, “frustrating” President Donald Trump. Meanwhile, European countries vowed Friday to sends billions of dollars in further funding to help Ukraine keep fighting Russia’s invasion, as a U.S. envoy pursued peace efforts in a trip to meet with Russian President Vladimir Putin amid growing questions about the Kremlin’s willingness to stop the more than three-year war.

Reuters reports, Beijing increased its tariffs on U.S. imports to 125% on Friday, hitting back against President Donald Trump’s decision to raise duties on Chinese goods and increasing the stakes in a trade war that threatens to upend global supply chains. The retaliation intensified global economic turmoil unleashed by Trump’s tariffs. U.S. stocks ended a volatile week higher, but the safe haven of gold hit a record high during the session and benchmark U.S. 10-year government bond yields posted their biggest weekly increase since 2001 alongside a slump in the dollar, signaling a lack of confidence in America Inc.

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