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According to Iran's Mehr News Agency: Preliminary reports indicate that Iran launched an attack on a US missile launch site in Kuwait.

On July 12, local time, US President Trump stated that the US had launched a "fierce strike" against Iran the previous night. In an interview that day, Trump claimed that the US and Iran had reached an agreement the previous day, and Iran was "prepared to give up everything," but hours later, a ship was attacked by a drone. The US military stated that after an attack on a merchant ship in the Strait of Hormuz, the US military launched a new round of strikes against approximately 140 Iranian military targets. This is the third US strike against Iran in a week. There are differing opinions regarding the navigation status of the Strait of Hormuz. Iran's Persian Gulf Straits Authority announced on social media on July 12 that the Strait of Hormuz is currently impassable. Trump, however, stated, "As far as the United States is concerned, the Strait of Hormuz remains open."

Market news: British Prime Minister-designate Andy Burnham plans to expand the autumn budget. British officials are considering releasing the budget in October.

July 12 – As part of a “political strategy” adjustment, Ukrainian President Volodymyr Zelensky is considering replacing the country’s prime minister. With Ukraine preparing for winter amid ongoing threats of Russian attacks, he may nominate a state-owned energy company executive or a former prime minister to succeed him. According to sources, Zelensky is considering appointing Sergei Koletsky, head of the state-owned oil and gas company, or former prime minister and current energy minister Denis Shmyhal for the position. Zelensky met separately with Koletsky and Shmyhal on Sunday and received briefings. He has invited current prime minister Yulia Sviridenko to “take charge of new and important areas with key partners” and thanked her for her “clear, robust, and efficient work” over the past year. Zelensky also met with officials including the mayor of Kharkiv and the defense minister. Zelensky stated that winter preparations are of paramount importance, Ukraine needs to be prepared for any threat, and the transformation of state-owned enterprises must be accelerated.

On July 12, 2026, the head of the Asian Department of the Ministry of Foreign Affairs issued a statement regarding the Japanese Foreign Minister's hype surrounding the tenth anniversary of the "South China Sea arbitration ruling" and Japan's joint statement with other countries. The Chinese side urgently summoned the chief minister of the Japanese Embassy in China to lodge a solemn representation, expressing strong dissatisfaction and protest. China pointed out that Japan bears historical responsibility for the South China Sea issue and has not yet settled accounts, and has no right to make irresponsible remarks. Japan's egregious words and actions challenge the post-war international order and international rule of law, adhere to double standards, distort facts, undermine peace and stability in the South China Sea, and violate the common interests and wishes of regional countries. This has aroused historical vigilance and strong indignation from the international community, including China, regarding Japan's aggression and colonial atrocities since modern times. China will resolutely and forcefully counter Japan's provocations and firmly defend its territorial sovereignty and maritime rights. China also lodged a strong protest regarding the Taiwan issue, Japan's abandoned chemical weapons, Japanese parliamentarians' unwarranted comments on China's ethnic policies, and a series of negative developments in Japan's military and security.

The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.1 occurred at 22:01 on July 12 near Xinghua City, Taizhou City, Jiangsu Province (32.69 degrees north latitude, 120.10 degrees east longitude). The final result is subject to the official rapid report.

Israeli forces: Killed two Hamas members in northern Gaza Strip.

On July 12, the Russian Ministry of Defense announced that Russian forces launched a large-scale attack and destroyed multiple Ukrainian military facilities from the night of July 11 to the early morning of July 12. The Ministry stated that Russian forces attacked and destroyed Ukrainian fuel, energy, and transportation facilities, long-range drone storage points, ammunition depots, and temporary deployment points of Ukrainian forces and foreign mercenaries in 158 regions. In the past 24 hours, Russian forces destroyed 585 drones and 11 aerial bombs launched by Ukrainian forces. The acting governor of Belgorod Oblast, Shuvaev, posted on social media on July 12 that in the past 24 hours, Ukrainian forces launched more than 100 attacks on 11 regions of the oblast, resulting in one death and seven injuries. Russian forces intercepted 111 drones. According to Russian media reports, due to the drone attacks, several Russian cities temporarily restricted civilian aircraft takeoffs and landings from the night of July 11 to the early morning of July 12, causing delays to dozens of flights.

July 12th - A Wall Street Journal survey of economists this month showed that the impact of the war with Iran on the US economy is far less severe than economists had previously feared. However, the bad news is that the war has made inflation, already above the Federal Reserve's 2% target, more stubborn and has removed the Fed's room for interest rate cuts. Economists' views have changed significantly compared to the April survey, about a month after the outbreak of the war. Forecasters now expect the US economy to grow by 2.1% this year, based on inflation-adjusted GDP from the fourth quarter of 2025 to the fourth quarter of 2026, up from the 2% forecast in April. Economists' average probability of a recession within the next 12 months has fallen to 25% from 33% in April, the lowest level since early 2025. However, while the growth outlook has improved, concerns about inflation have also intensified. Economists expect the CPI to rise by 3.4% in the 12 months ending in December, up from 3.2% in the April survey. Inflation concerns have outweighed the war's boost to energy costs. Economists predict that PCE inflation, which excludes food and energy and is closely watched by Federal Reserve officials, will rise by 3.2% in 2026, up from 2.9% in April.

July 12th - In response to the impact of the typhoon on communication networks, the Ministry of Industry and Information Technology (MIIT) closely monitored weather changes and network operation, urgently dispatched national emergency communication support teams and equipment, and activated 5G inter-network roaming services to support the communication needs of flood control and disaster relief command centers and affected residents. According to statistics, as of 12:00 on July 12th, the information and communication industry had deployed 68,000 personnel, 24,000 emergency communication vehicles, 31,000 generators, 130 satellite phones, and 27 drones, sending 330 million warning text messages. A total of 11,000 damaged base stations have been restored.

On July 12, Liu Guozhong, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, conducted research in Beijing. He emphasized the need to thoroughly study and implement the spirit of General Secretary Xi Jinping's important instructions and directives, as well as the spirit of the Political Bureau meeting, and to implement the arrangements of the State Council's executive meeting. He stressed the importance of firmly establishing a bottom-line mentality and a mindset of extreme limits, fully implementing political responsibilities, meticulously implementing measures to prevent and respond to torrential rains and floods, making every effort to ensure the safe passage of reservoirs through the flood season, and effectively safeguarding the lives and property of the people.

Ukrainian President Volodymyr Zelensky has proposed replacing Prime Minister Sviridenko.

July 12th - The clearing out of securities brokers may be accelerating. Industry sources indicate varying degrees of enforcement regarding broker elimination. Some local bureaus emphasize standardized elimination processes but lack a unified timetable; regulators will subsequently review the compliance of these processes. Data shows that the number of brokers in the securities industry has decreased by nearly 12,000 since 2025. As early as 2024, regulators conveyed that securities firms should adapt to the transformation towards wealth management and gradually eliminate brokers. Currently, some leading securities firms have largely completed this process, while smaller firms still have a significant number of brokers. Some securities firms have stated that they will accelerate the elimination process by combining leading practices, regulatory guidance, and industry trends, but will adopt a stable approach, such as not renewing contracts upon expiration and performance-based layoffs. They will also simultaneously adjust traditional commission-dependent models to align with the wealth management transformation. During the elimination process, qualified brokers can be transferred to formal positions such as wealth managers or investment advisors. Regarding potential customer attrition, industry insiders believe that given the overall industry is in a broker elimination phase, the overall impact of customer loss will be minimal, with only some regions potentially experiencing minor disruptions.

Iraqi government spokesperson: The Iraqi prime minister will sign several oil and gas memorandums of understanding during his visit to Washington.

Iraqi government spokesperson: The Iraqi prime minister will travel to Washington on Monday.

According to a Wall Street Journal survey, the probability of a U.S. recession has fallen to 25%, down from 33% in April.

According to a Wall Street Journal survey, economists expect U.S. GDP to grow by 2.1% this year, up from 2% in the April survey.

According to a Wall Street Journal survey, economists expect U.S. consumer price index (CPI) inflation to be 3.4% this year, up from 3.2% in the April survey.

Qatar's Ministry of Foreign Affairs: The ongoing Iranian attacks are a serious escalation that will further complicate efforts to contain tensions in the region.