The three day G-7 summit it France is behind us. Prior to the start, many analysts wondered if it would be a G-7 summit or a G5+2, with the US and the UK forming the +2. It is still unclear as there have been conflicting messages, but French President Macron tried to end the summit on a positive note in what some now refer to as “Macron’s Iranian Drama”. After US President Trump pulled out of the Iran nuclear deal, tensions with Iran have increased.

US President Trump delivered fresh sanctions against Iran after the downing of a US spy drone. In an effort to annoy Iran, the sanctions include Iranian Supreme Leader Ayatollah Ali Khamenei as well as eight senior military commanders. Iranian Foreign Minister Javad Zarif will be sanction later this week.

The US is entrenched in a trade war with China and it appears as this could last for years or longer. Some compare it to the start of a new cold war as tensions rise, both economies compete against each other and China is boosting its reach across the globe. This is by far the only trade related conflict the US is currently stirring up. This year in May, the Trump administration withdrew from the Iran accord and asked its allies to do the same. The EU, China and Russia have different plans in order to create legitimate trade with Iran, sidestepping US sanctions.

US President Donald Trump is scheduled to announce his administrations decision on Iran today at 2p.m. It is no secret that the preferred option of President Trump is to pull out of the deal. France and Germany tried without success to convince the US to remain in the deal and honor the past negotiations. Iran said that if the US pulls out, they would no longer be bound by the deal and may restart its nuclear program.