The major international financial headlines from overnight and this morning include: Trump's claim that negotiations are a "last chance" for Tehran, multiple US states filing lawsuits over the latest tariffs, the White House planning to convene AI giants, the FAA certifying the Boeing 737 Max 7, Trump criticizing energy giants' profits, and Amazon's market cap surpassing $3 trillion.

Trump and Iran's Dueling Narratives, with Talks Called a "Last Chance"

US President Donald Trump stated that his latest offer for negotiations is Iran's "last chance." Iran has denied being in talks with the US, though it indicated progress in discussions with Oman regarding allowing more ships through the Strait of Hormuz. Despite the conflicting claims, the renewed diplomatic efforts pushed oil prices lower on Monday, with Brent crude contracts falling roughly 4.6% to just under $84 per barrel.

Multiple US States Sue Over Trump's Latest Tariffs

Several US states have filed a lawsuit against the new round of global tariffs enacted by President Trump last month. This follows similar legal challenges from small businesses, which accuse the tariff measures of being unlawful. The complaint, filed on Monday in the US Court of International Trade in Manhattan, reignites a familiar dispute. A coalition of states and a separate group of small businesses are now engaged in legal battles with the Trump administration over the third round of tariffs imposed by the president. The lawsuit alleges that Trump and government officials illegally invoked Section 301 of the Trade Act of 1974, replacing tariffs that were either previously ruled illegal by the Supreme Court or have already expired.

White House Plans to Gather OpenAI, Anthropic, and Others for AI Safety Framework Talks

Sources indicate the Trump administration plans to convene artificial intelligence companies at the White House on Tuesday to discuss a new framework for voluntary safety testing of AI models. AI developers expected to attend the meeting include OpenAI and Anthropic PBC, as well as Alphabet Inc.'s Google. This recently completed framework stems from an AI cybersecurity executive order signed by President Trump in June. The order proposes a voluntary mechanism for the safety assessment of AI models and aims to strengthen the security of critical computer systems.

FAA Officially Certifies Boeing 737 Max 7

The US Federal Aviation Administration (FAA) has issued a revised type certificate for Boeing's 737-7 aircraft, formally approving it for commercial service. As the shortest and longest-range member of the 737 Max family, the 737-7 can carry 135 to 160 passengers in a two-class configuration, with a maximum range of 3,800 nautical miles (approximately 7,040 kilometers). This milestone marks the end of Boeing's eight-year certification effort. The testing program for the aircraft began in 2018, accumulating over 1,000 hours of flight and ground tests, including 441 flight tests (686 hours) and 349 hours of ground testing, along with extensive system safety analysis and human factors evaluations. During the certification process, Boeing also resolved a potential design flaw in the engine anti-icing system, developing a permanent fix.

Trump Criticizes Exxon Mobil and Chevron for Surging Profits Amid Iran War

President Donald Trump criticized Exxon Mobil and Chevron for their surging profits, as oil prices spiked in February during the Iran war he launched alongside Israel. Trump stated on Monday that the largest US oil companies are "making too much money" and urged them to "return some of it to the public" while also lowering retail gasoline prices. "I don't like it. I should be the last one to say that, because I'm a strong believer in free enterprise, nobody is more of a believer in free enterprise than me," Trump told reporters at the White House. "Are you surprised I'm saying that? I'll say it loud and clear. I'm not happy about it."

Amazon Hits Record High, Market Cap Surpasses $3 Trillion

Amazon.com closed up 4.58% on Monday with a massive trading volume of $252.87 billion. The stock hit an all-time high, extending its strong rally following last week's earnings report, and its market capitalization surpassed $3 trillion for the first time, making it the fifth company ever to achieve this milestone. Its second-quarter earnings report showed accelerating growth in its cloud computing business revenue. With this achievement, Amazon.com joins Nvidia, Alphabet, Microsoft, and Apple as one of the few companies to reach a $3 trillion market cap. For most of the past three months, Amazon.com was in a selling slump, as investors worried about earnings pressure on tech companies investing heavily in artificial intelligence. The stock fell nearly 18% from its May 6 high to a three-month low last month.