AFBytes Quarter Rundown — Tuesday, August 18, 10:00 PM ET

Here's what's been making headlines today in the last 24 hours. President Trump ruled out near-term talks with Iran. He stated that the Strait of Hormuz continues to function despite reduced traffic. Limited shipping activity has been reported in the area. Disruptions in the Strait of Hormuz can raise global oil prices that directly increase U.S. gasoline and energy costs. President Trump has discussed holding talks with North Korean leader Kim Jong Un this autumn. Sources indicate the possibility of face-to-face meetings is under review. Potential talks could influence U.S. foreign policy priorities and regional security dynamics involving American allies. Donald Trump is reportedly seeking to arrange a meeting with Kim Jong Un before the end of the year to revive nuclear talks. Renewed diplomacy efforts could shape U.S. foreign policy and security arrangements in Asia. Seoul and Washington intend to halve the scope of upcoming joint military drills. The move follows reports that President Trump is seeking another summit with North Korean leader Kim Jong Un. Reduced drills could influence U.S. force posture in Asia and affect regional stability that underpins trade routes and alliance commitments. President Trump is directing aides to arrange a meeting with North Korean leader Kim Jong-un as early as this fall. The Wall Street Journal reported the push amid ongoing tensions on the Korean Peninsula. A renewed US-North Korea summit could affect foreign policy decisions and regional stability in Asia. Any agreement or breakdown would influence US trade leverage and alliance commitments with South Korea and Japan. That's the day from where we sit — thanks for spending part of it with us. Stay with us at AFBytes for what's next.