Axios

Some Hill Republicans view the past 24 hours as a battle lost for MAGA's isolationist camp.

Why it matters: GOP Hill leaders united in support of Israel's targeted attack on Iran — in spite of MAGA media's monthslong warnings against such strikes.

Iran launched a major counterattack against Israel on Friday, firing around 100 missiles in two barrages, according to the Israel Defense Forces (IDF).

Why it matters: The retaliatory attack began 18 hours after Israel launched a war against Iran, attacking its nuclear facilities and missile sites and killing top military leaders and nuclear scientists.

Senate Democratic Leader Chuck Schumer (D-N.Y.) said Friday that U.S. commitment to Israel's defense must be "ironclad" after the country's attack on Iran on Thursday.

Why it matters: Schumer's statement was not critical of the Israeli offensive, while other top Senate Democrats have already panned the attack as "reckless."

Israel's Thursday strike on Iran follows more than a decade of geopolitical brinksmanship since the Iran nuclear deal reached under former President Obama.

The big picture: Israel targeted some of Iran's key nuclear facilities, likely to prompt retaliation in the already conflict-ridden region and add more uncertainty to the US-Iran talks.

The U.S. and Israel were bracing for swift, fierce retaliation from Iran overnight.

• Thanks to intricately planned maneuvers by Israeli spies and pilots — and shock and disarray on the Iranian side — there was silence.

Minutes before heading to the Situation Room for a strategy session on Iran, President Trump told Axios he believes Israel's massive strike likely improved the chances of a U.S.-Iran nuclear agreement.

The big picture: Israel just killed much of Iran's military leadership, targeted its top nuclear scientists for assassination, and is actively bombing the Islamic Republic's nuclear facilities and ballistic missile sites.

Don't sleep on the shale boom as a force behind Trump 2.0's "disruptive" foreign and trade policies, a new essay argues.

Why it matters: The provocative Foreign Affairs piece calls the U.S. oil and gas export surge an "overlooked" driver of America's posture on the global stage that's "mostly unrelated to [President] Trump's particular preferences."

President Trump on Friday called on Iran to go back to the negotiating table and cut a nuclear deal "before there is nothing left" after Israel attacked its nuclear sites.

Why it matters: The Trump administration wants to use the war Israel started to get the Iranians back to the nuclear talks when they are in a weaker position.

Israel's strikes against Iran Thursday night immediately sent oil prices up sharply, with Brent now trading at its highest level since early April.

Why it matters: Traders are responding to risk that the conflict could spread in ways that affect regional oil production and transport.

Israel's stunning and sprawling operation overnight targeting Iran's nuclear facilities, missile sites, scientists and generals followed eight months of intensive clandestine preparations.

Why it matters: The operation launched a new war in the Middle East that could draw in the U.S., demolished any hopes of a nuclear deal, and dealt arguably the biggest single blow to the Iranian regime since the 1979 revolution. And it is only just beginning.

The latest U.S. trade deal with China may let the economy take a brief breather, but it's far from being able to relax.

Why it matters: Months of real-time uncertainty are being replaced with longer-term uncertainty, with trade policy living on three-to-six-month cycles that make business planning a nightmare.

Israel launched a massive wave of attacks across Iran on Thursday night, bombing nuclear and missile sites, targeting military leaders and nuclear scientists, and conducting covert sabotage operations on missile and air defense sites.

Why it matters: Israel is directly attacking its biggest and best-armed adversary without explicit backing from the U.S., which swiftly distanced itself from the operation. Iran has already launched more than 100 drones toward Israel in response.

The Trump administration's deployment of California's National Guard to Los Angeles over Immigration and Customs Enforcement (ICE) raids can continue for now, an appeals court ruled late Thursday.

The latest: The 9th U.S. Circuit Court of Appeals paused U.S. District Judge Charles Breyer's ruling that had granted California Gov. Gavin Newsom's request to block the administration's action while the three-judge panel considers the case.

President Trump's website for his "gold card" that would enable successful applicants to buy U.S. permanent residency for $5 million went live this week.

The big picture: Details on what the program would entail remain scant, and it may require congressional approval.