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"So long as Fordo remains operational, Iran still poses a near-term proliferation risk. Tehran has the option to ratchet up enrichment to weapons grade levels at the site or divert uranium to an undeclared location," Ms Davenport said.

“The Europeans’ takeaway,” the Journal notes, “was that Trump didn’t believe that a near-term peace deal was in the offing and that the war was Europe’s problem.”

“Disrupted supply chains may also contribute to near-term shortages and delayed deliveries of construction materials.”

"This dynamic, along with changing political sentiment, could have a meaningful impact on demand for our products in the near-term," Tesla's quarterly update said.

The disruption has the potential to cause near-term shortages in the US of items where China dominates the supply, such as baby carriages, colouring books and umbrellas, analysts at Macquarie noted this week.