Trade Progress With China

President Trump said Wednesday that the United States and China had struck a deal to roll back some of the punitive measures they had taken against each other’s economies in recent months, including his administration’s recently proposed restrictions on Chinese students attending U.S. universities, as the NYT reports.

China Puts Six-Month Limit on Its Ease of Rare-Earth Export Licenses

China is putting a six-month limit on rare-earth export licenses for U.S. automakers and manufacturers, according to people familiar with the matter, giving Beijing leverage if trade tensions flare up again while adding to uncertainty for American industry. Beijing’s agreement to temporarily restore rare-earth licenses was one of the key breakthroughs in the latest round of intense trade talks in London, but the six-month limit illustrated how each side is retaining the tools to easily escalate tensions again, as the WSJ reports.

Pentagon Launches Review of AUKUS Nuclear Submarine Deal

The Pentagon has launched a review of the 2021 AUKUS submarine deal with the UK and Australia, throwing the security pact into doubt at a time of heightened tension with China, as the FT reports.

Executive Education

Looking for the tools to navigate times of uncertainty and significant change with minimum disruption? The CSIS Global Strategy Lab combines virtual and in-person experiences to deliver the strategic insight, global perspective, and communication tools required to drive success in times of change. Register by August 29 to join a community of seasoned leaders from across the private sector, government, and nonprofits.

Audio Briefs

CSIS now offers audio versions of our latest analysis. Listen to the latest commentary by CSIS's Tom Karako, "Why Auctioning Military S-Band Spectrum Is a Bad Idea."

In That Number

20 percent

The government of Pakistan announced on Tuesday a plan to significantly increase its defense spending. Addressing the lower house of Parliament, Pakistani Finance Minister Muhammad Aurangzeb said the defense budget would rise by almost 20 percent.
Source: The Washington Post

Critical Quote

“The two largest economies in the world have reached a handshake for a framework.”

—Commerce Secretary Howard Lutnick

iDeas Lab

As agriculture faces growing biological and environmental threats, crop biodiversity is vital to maintaining and building resilience. CSIS experts examine how agrobiodiversity, and the genebanks that safeguard it, are strategic assets ensuring a more secure future. Read the full analysis here.

The Andreas C. Dracopoulos iDeas Lab at CSIS enhances our research with the latest in cutting-edge web technologies, design, and multimedia.

Optics

(Photo credit: Oles Kromplias/Global Images Ukraine/Getty Images.) Fire and smoke are visible after Russian drone strikes on June 10, 2025 in Kyiv, Ukraine.

This Town Tomorrow

At 8:30 a.m., the CSIS Missile Defense Project welcomes Senator Maria Cantwell (D-WA) to discuss why protecting America's electromagnetic spectrum is critical to U.S. national security.

Later, at 3:30 p.m., the Carnegie Endowment for International Peace hosts a discussion of perspectives on regional security in the Middle East.

Then, at 6 :00 p.m., the Council on Foreign Relations welcomes Ajay Banga, the President of the World Bank Group, for a disussion on the future of the World Bank.

Video

The final episode of the U.S. Investment in the Philippines Series tackles cross-sector investments and explores how transparency, regional equity, and stronger people-to-people connections can deepen cooperation. Watch the full video here.

Podcasts

CSIS hosted Ryan Tseng, Co-Founder and President of Shield AI, to discuss AI, autonomy, and defense innovation.

Listen on Spotify & Apple Podcasts.

Smiles

The Beach Boys were my first love in rock and roll. They were the first band that I saw perform live. At an early age, I somehow knew that they were important. They channeled an America that I saw as ideal—surfing and the ocean, California’s adventurous spirit, hot rods, and the West Coast youth culture of the early 1960s.

The sounds they created were mesmerizing and the songs endlessly catchy. Brian Wilson, who passed away at 82, was the architect of the band’s symphonic structure. His music and the images and stories it conjures up are relevant today, and I dare say, always will be.

I invite you to email me at [email protected] and follow me on Twitter @handrewschwartz

The Evening is my daily guide to key insights CSIS brings to the events of the day. It is composed by Lauren Adler, Ava Rose, and the External Relations team.