President Donald Trump says he is suspending 'Project Freedom," an operation he announced to guide stranded ships through the Strait of Hormuz, citing progress in diplomatic talks with Iran to end the Middle East war.
However, in announcing the pause on social media, Trump vowed to maintain the U.S. blockade of Iranian ports. He did not give any detail to substantiate his claims of progress in peace talks.
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Political News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.