Welcome to the PDB Situation Report.

I'm Mike Baker, your eyes and ears on the world stage.

And look at that.

I'm still on the road.

All right, let's get briefed. First up,

new intelligence suggests that Iran may still retain significant missile capabilities as the crisis and the strain of Hormuz continues to drag on. We'll break it down with Bill Roggio

from the Foundation for Defense of Democracies. Later in the show,

we take a closer look at President Trump's summit with Chinese leader Xi Jinping following

his visit to Beijing this week. We'll be joined by Steve Lance of NTD News for more on that.

But first, today's situation report spotlight. Despite weeks of U.S. and Israeli strikes,

new intelligence assessments suggest Iran may still retain a significant portion of its missile

stockpiles and launch capabilities along the Strait of Hormuz. Meanwhile, maritime traffic

through the critical waterway remains severely disrupted,

with commercial shipping still operating in a fraction of normal levels amid fears of mines,

drone attacks, and Iranian naval harassment.

The growing concern now is whether Tehran strategy is shifted from direct confrontation

to a prolonged campaign designed to keep global

energy markets under pressure while negotiating an end to the conflict.

For more on this, we're joined by Bill Rogio.

He's the editor of the Foundation for Defense of Democracy's Long War Journal and a very good friend

of the show, might I add.

Bill, welcome back, man, to the Situation Report. Thank you, sir. Always a pleasure. And you know what? And you're not going to hear the word spiffy on nobody else's podcast. Look, I've been accused a lot of things and being a spiffy drugster is certainly not one of them. Where you combine it with being witty or pithy, and you got the whole package right there,

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