Axios

The U.S. and U.K. are planning to convene a high-level meeting in London next week that will focus on a potential international coalition to protect maritime shipping in the Strait of Hormuz, two European diplomats and two other sources with knowledge told Axios.

Why it matters: The reopening of the strait for commercial shipping is a key element of any U.S. exit strategy from the war with Iran and of efforts to stabilize global energy markets.

South Carolina has been preliminarily tapped to hold the first Democratic presidential primary of 2028, as a key panel of party leaders picked the Palmetto State over Nevada on Friday after a contentious, racially fraught debate.

Why it matters: It's a coup for Black leaders who argued the party's most loyal voters — represented by South Carolina's large Black population — deserved to have the first chance to weigh in on who should be Democrats' next presidential nominee.

The White House has found new legal ways to keep tariffs flowing. But it's not enough to fully replace the revenue from the import taxes the Supreme Court struck down.

The intrigue: The administration's replacement tariffs would raise about $105 billion a year — replacing about 60% of the revenue lost when the Supreme Court invalidated the administration's emergency tariff regime, according to the Committee for a Responsible Federal Budget.