🏭 🇺🇸 👷‍♂️ U.S. Steel reopening Gary Tin Mill in northwest Indiana

Hundreds of new jobs are coming to Gary, Indiana. U.S. Steel said it's planning to restart the Gary Tin Mill at the company's facility by early next year.

CEO David Burritt said more and more customers want a dependable supply of American tin they can rely on in the long term.

"Restarting the Gary Tin Mill positions us to serve that demand, support domestic manufacturing, and strengthen critical U.S. supply chains—including those that help support American farmers and food producers—provided trade is fair and enforced," Burritt said in a statement.

The reopening of the Gary Tin Mill is expected to create 225 jobs. U.S. Steel said the facility should be fully operational early next year.

https://www.cbsnews.com/chicago/news/u-s-steel-reopening-gary-tin-mill/

📈 🚢 🇮🇷 Nitrogen fertilizer prices, almost double what they were before the Iran war, may climb further as vital supplies remain locked up in the Persian Gulf, according to one of the world’s biggest exporters of the crop nutrient.

📎 Bloomberg

🇺🇸🤝✡️ U.S. to Bar World Cup Attendees Tied to Antisemitism Abroad, Envoy Says

The United States will ban individuals accused of promoting antisemitism from attending the 2026 FIFA World Cup, U.S. antisemitism envoy Rabbi Yehuda Kaploun announced, saying, 'Coming to this country is a privilege. It's not a right'

Rabbi Yehuda Kaploun, the U.S. special envoy for monitoring and combating antisemitism, said this week that the United States will bar individuals from attending the World Cup who are accused of fostering antisemitism in their home countries.

"The president and the secretary of state have made it perfectly clear that people who want to sow discord in this country are not welcome here," Kaploun told the Jewish Telegraphic Agency on Friday. "People who want to bring their brand of hate to the United States with antisemitism are not welcome. Coming to this country is a privilege. It's not a right."

Kaploun's comments on a potential ban were first reported by Euractiv, which said he told a European Jewish Association conference in Brussels that the United States was "holding countries accountable for ministers who are saying things, and they are not being allowed into the country."

"If there is a minister that is promoting, you know, there are people who are promoting right-wing antisemitism or left-wing antisemitism," Kaploun said. "Either way, coming to the United States is a privilege, not a right, and everybody is judged on making sure that they're going to be coming to this country, that they're going to not ferment hate."

The FIFA World Cup, which will be hosted in cities across the United States, Mexico and Canada from June 11 to July 19, will be the organization's largest event to date, featuring 48 national teams.

The countries that qualified include several that have battled openly – and in some cases literally – with Israel, such as Iran, Turkey and South Africa. (Israel, which has faced widespread calls to be banned from the Union of European Football Associations, will not participate, having lost in qualifying competition last year.)

Participating countries also include several where antisemitism is seen to be on the rise or where U.S. officials have sparred with leaders over issues related to Jewish safety – for example, Belgium, where the U.S. ambassador recently challenged the health minister publicly over the arrest of mohels who performed Jewish circumcisions.

🔗 https://archive.ph/SzpHJ

🇺🇸🇮🇷⚡️ — A U.S. military official told NYT that a boarding team of Marines was searching up to 5,000 containers aboard the sanctioned Iran-flagged M/V Touska on Monday.

🇮🇷❌🇸🇦🇮🇱 — OVERVIEW: Iran launched 8,695 missile and drone attacks across eight regional countries, with the UAE facing far more than any other country.

— UAE: 2,819
— Israel: 1,357
— Saudi Arabia: 1,231
— Kuwait: 1,214
— Qatar: 730
— Bahrain: 717
— Iraq: 340
— Jordan: 287

🇺🇸🇨🇳 Global government debt is projected to surge to 102% of GDP by 2031, a level previously seen only in the aftermath of World War II, according to the IMF.

World government debt already stands at ~94% of GDP.

Debt-to-GDP has risen +16 percentage points since 2015, with the US and China responsible for the majority of the increase.

This comes as the US is running a government deficit of 7-8% of GDP, with debt projected to rise to 142% of GDP by 2031.

At the same time, China’s Debt-to-GDP is expected to increase to 127% as the country’s deficit has widened to nearly 8% of GDP.

Global interest payments are expected to rise to ~5% of GDP by 2031 from the current ~3%, as governments refinance maturing debt at today's higher borrowing costs.

🔗 Kobeissi Letter