LIVE UPDATES: King Charles takes jab at Trump over White House renovations after historic Congress address; Trump administration moves to challenge Jimmy Kimmel's network licence; Latest Iran war news; World warned to prepare for extended Strait of Hormuz blockade

Thanks for following our live coverage of US politics and the conflict in the Middle East.

Here's a recap of today's key developments.

Shaky global affairs have catapulted inflation back home to a three-year high, rising from 3.7 per cent to 4.6 per cent year-on-year.

The United Arab Emirates has announced it will leave the world's biggest oil alliance, OPEC, on May 1.

Foreign Minister Penny Wong has stopped over in Beijing as part of her tour of Asia, meeting with China's vice president and endorsing the importance of China-Australia relations.

King Charles III delivered his address to the US Congress, saying "acts of violence will never succeed", before gifting the president with a WWII-era submarine named HMS Trump during a White House dinner.

And Israeli strikes killed at least eight people in southern Lebanon on Tuesday, despite a declared ceasefire, according to Lebanese authorities and state media.

Foreign Minister Penny Wong has reiterated the importance of Australia's diplomatic relations with China, as the Middle-East conflict continues to cast doubt on global oil security.

Wong met with Chinese Vice President Han Zheng in Beijing today, in her third visit to the capital as foreign minister.

Later today, Wong will co-chair the eighth Australia-China Foreign and Strategic Dialogue alongside Chinese Foreign Minister Wang Yi.

"Australia is committed to working with China to further areas of practical cooperation, including in supporting its APEC host year," Wong said in her address to Beijing's Great Hall of People.

"And we continue to make good progress in ensuring a constructive and stable relationship in the interests of both our countries.

Wong touched on the global oil shock triggered by the Middle East Conflict and closure of the Strait of Hormuz, which has disproportionately affected the Indo-Pacific and Asian refineries.

"In that context, it is more important than ever that we continue to engage and find ways to work together, to keep fuel and goods flowing," Wong said.

"With China, Australia will continue to cooperate where we can, disagree where we must and engage in the national interest.

"My visit to China and our discussions here today will build on the steady tempo of high-level engagement between Australia and China, including between the prime minister and the president, regular exchanges between ministers for trade and for climate, and the visit to Australia by National People's Congress Chairman Zhao Leji as a guest of our presiding officers.

"So, I look forward to a productive discussion with you today".

US Defence Secretary Pete Hegseth will face questioning from MPs for the first time since the Trump administration launched the war against Iran, which Democrats have contested as a costly conflict of choice waged without congressional approval.

The hearing before the House Armed Services Committee is being held to discuss the administration's 2027 military budget proposal, which would boost defence spending to a historic $US1.5 trillion ($2.1 trillion).

Hegseth and the chairman of the Joint Chiefs of Staff, General Dan Caine, are expected to stress the need for more drones, missile defence systems and warships.

Democrats are likely to pivot to the ballooning costs of the Iran war, huge drawdown of critical US munitions and bombing of a school that killed children.

Some lawmakers also may question how prepared the military was to shoot down swarms of Iranian drones, some of which penetrated US defences and killed or injured American troops.

Despite a declared ceasefire, Israeli strikes killed at least eight people in southern Lebanon on Tuesday, according to Lebanese authorities and state media.

Lebanese Civil Defence said two civilians were killed in an initial strike on a building in Majdal Zoun, a town near Tyre. Another strike at the same location afterwards killed three Civil Defence personnel, who were "assisting people wounded" from the earlier strike, the organisation added.

Two Lebanese Army soldiers were wounded in the second strike, both Civil Defence and the army said.

Lebanese President Joseph Aoun's office condemned the strikes in a statement on X, adding that Aoun considered the attacks part of "a series… that targeted relief and first aid" services.

Foreign Minister Penny Wong is continuing her tour of Asia, meeting with China's vice minister in Beijing today.

She was pictured meeting with Han Zheng, and is also believed to have delivered a speech in the Great Hall of People.

We will have details on the speech as soon as we get them.

Representatives from Iran's soccer federation were not present at the largest formal meeting of Asia's soccer leaders before this summer's World Cup, sparking fresh concerns about their participation at the world's biggest sporting event.

In the presence of FIFA President Gianni Infantino, there was no discussion at the Asian Football Confederation Congress about Iran's participation in the tournament or whether the team's games should be moved out of the United States because of the conflict between the two nations.

There have been concerns that visa issues could impact the Iranian delegation's ability to travel to both Tuesday's confederation meeting in Vancouver, British Columbia, and the overall FIFA Congress on Thursday, as well as the World Cup starting on June 11.

The 48-team tournament is being hosted by the United States, Canada and Mexico.

It was not clear if visa issues prevented Iranian representatives from attending the AFC Congress. However, as the nine AFC teams that qualified for the World Cup were presented with commemorative gifts, it was announced that Iran would receive its token "once they arrive."

US President Donald Trump has previously expressed his desire not to see Iran at the World Cup, though the decision is out of his hands.

One of his envoys, with an Italian background, has instead suggested Iran should be replaced by... Italy.

Reported with Associated Press.

Earlier, we reported on US President Donald Trump claiming to say King Charles "agrees with me even more than I do" when discussing the Iran war and Iran's possession of nuclear weapons.

Not only was it awkward because it touched on a disagreement Trump had with UK Prime Minister Keir Starmer, but also because it could have been in breach of royal protocol.

As a constitutional monarch, Charles is bound to remain above politics, able only to represent the UK rather than speak for its government.

Revealing his apparent position on a foreign policy matter puts the King in a tricky spot.

Given this was likely a private conversation, the palace will never confirm what the King's position is on the matter, but the fact that a seemingly confidential conversation has been revealed in public is another protocol problem.

The longstanding convention is that you never share a conversation had with the monarch. But Charles is not Trump's monarch — so there is only a hope, rather than an expectation, that he would abide by the custom.

US President Donald Trump has reportedly told his aides that the blockade of the Strait of Hormuz could be extended indefinitely, as the US looks to apply more economic pressure on Iran.

According to the Wall Street Journal, Trump has decided it is a less risky option than resuming bombing or taking the USA out of the conflict completely.

There was no timeframe suggested on how long the blockade could last under these plans.

While the world has been laser-focused on the Strait of Hormuz, there is another significant waterway that is actually getting busier.

Reuters is reporting that the Panama Canal has experienced a surge in traffic while the Strait of Hormuz remains sealed shut by both Iran and the US blockade.

"The expectation is that this will continue until the situation in the Middle East is resolved," Panama Canal Authority chief Victor Vial said.

He also noted that since October, the canal had registered about 300 more vessel crossings compared with the same period last financial year.

The Panama Canal has been one of Trump's pet projects since he was first elected a decade ago.

On his return to the White House, the US president vowed to "take back" control of the canal over concerns about Chinese involvement and high transit fees.

Treasurer Jim Chalmers has spoken after the release of the country's latest inflation figures, and it's not looking good for Aussies already struggling to keep up.

He's admitted the jump in inflation is being driven by the Middle East oil crisis — a situation we really have no control over.

"We understand that people are under pressure, that is why we cut the fuel excise and providing cost of living help, why we are providing additional tax cuts," Chalmers told reporters.

But without falling into total despair, the treasurer did give an optimistic spin on the issue.

"We know the Australian economy is not immune from all of this global uncertainty and volatility and unpredictable conditions, but we are better placed and better prepared and have faster growth than any other advanced economy to finish up 2025," he said.