US-Iran Ceasefire Expires Amid Iranian Escalation Warnings and US Tomahawk Missile Production Boost

The 60-day US-Iran memorandum of understanding on a nuclear deal expired without a follow-on agreement, with Iran's Islamic Revolutionary Guard Corps (IRGC) warning of 'strategic surprises' and a shift to a more 'offensive form' of defense. Reports indicate Iran's hardline leadership is preparing for a larger conflict, increasing missile and drone production, and has effectively halted shipping through the Strait of Hormuz. In response, the U.S. Department of the Navy awarded a $22.9 billion contract to Raytheon (RTX) to accelerate the production of Tomahawk missiles, a critical long-range strike capability.