Trendwatch: Proposed Hormuz deal would give Iran control of inbound traffic, sources say; Tuas Port handles 25 million TEUs; Record low Danube levels push some countries in Eastern Europe to the brink of energy emergency

China announces sweeping retaliatory sanctions against U.S. 

China has announced a series of new sanctions against the U.S., in response to a Trump administration ban on new foreign-made humanoid robot imports. 

According to the Associated Press, China will now require reviews on a case-by-case basis for exports of unmanned aerial vehicles to the U.S., with their components and technologies added to a list of so-called dual-use items that can be used for both civilian and military purposes. China also banned six U.S. firms from trading with Chinese companies, and opened an investigation into the national security impacts of imported printing software and office equipment. 

Tuas Port handles 25 million TEUs 

The milestone comes as operations continue to ramp up at what PSA describes as the world’s largest fully automated container terminal. Tuas Port currently has 14 operational berths and is scheduled to increase this to 18 by 2027. 

PSA said the terminal is intended to support resilient, reliable and efficient cargo flows as maritime trade patterns change. It connects the group’s Singapore transhipment capabilities with its wider international network of port operations. 

The development forms part of PSA’s Node to Network strategy, which links its Singapore transhipment operations with the group’s wider port ecosystem. The operator is also continuing to introduce smart and sustainable technologies across the terminal. 

Trump tariff refunds hit $100B 

The amount the U.S. Customs and Border Patrol has refunded to companies that paid tariffs illegally levied by the Trump administration under the International Emergency Economic Powers Act has reportedly topped 12 figures, as of August 5. 

According to The Guardian, the $100 billion that's been refunded so far makes up 60% of the $165 billion collected from President Donald Trump's "Liberation Day" levies that were announced in April 2025. Another $29 billion is still undergoing review, with another $1.6 billion in refunds delayed because of importers that have not yet given the federal government banking information. 

Record low Danube levels push some countries in Eastern Europe to the brink of energy emergency 

Numerous governments across Central and Eastern Europe are taking steps to conserve electricity and avert an energy crisis as record low water levels on the Danube River have forced power plants to the brink of shutting down. 

Persistent drought and successive extreme heat waves have deprived one of Europe’s largest rivers of water, pushing the Danube’s levels in Hungary’s capital Budapest to around 10 centimeters (4 inches) on Monday, well below the previous all-time low of 33 centimeters (13 inches) set in 2018.

Proposed Hormuz deal would give Iran control of inbound traffic, sources say 

A proposed deal between Iran and Oman would give Tehran control over ships entering the Gulf through the Strait of Hormuz, a senior Iranian source and two regional officials told Reuters on Wednesday, in one of the biggest concessions yet to Iran. 

Despite the apparent step towards yielding to Iranian demands, the sources pushed back against assertions by U.S. President Donald Trump that a deal reopening the strait was imminent. 

"The concession has already been made regarding some form of control over Hormuz," one of the regional sources told Reuters.