Friday Afternoon News Updates: Trump the Paper Tiger — 5/1/26

It’s Friday, and the receipts are piling up.

Hi all, Ben here. It’s Friday, May 1st, International Workers’ Day, also known as May Day. Let me give a quick shoutout to all the hardworking people fighting for a better future and to all those taking to the streets in protest.

Here’s a quick rundown of the top stories we’re tracking before I dive deeper:

• Iran issues coordinated warnings that American sailors will end up at the bottom of the Persian Gulf

• CNN confirms at least 16 U.S. military sites damaged in Iranian strikes — far worse than Trump has admitted

• Satellite imagery destroys Trump’s claim that Iran’s oil infrastructure is collapsing

• Iran responds to nuclear deal talks: dismisses latest U.S. amendments

• Trump announces new 25% tariffs on European cars and trucks

• Gas and diesel prices spike sharply across the country; Goldman Sachs slashes income growth forecast

• U.S. set to shutter the Civil-Military Coordination Center in southern Israel

• May Day rallies erupt worldwide as workers protest the Iran war’s economic toll

• Scott Jennings melts down on live CNN after Adam Mockler confronts him with facts

• Trump floats pulling U.S. troops from Germany, blindsiding the Pentagon

Before I go any further, I want to thank all our paid subscribers. At MeidasTouch, you know we don’t care about access. We don’t care about offending power. We don’t act as stenographers for Trump’s lies. We care about getting you the truth. If you’re already a Meidas+ Substack member, thank you. If not, join us today and support our unapologetic reporting.

Now let’s get into all the details.