Donald Trump will celebrate his birthday with a massive military parade, but at the same time is reassessing military defence deals with US allies.

Australia will have “a very high price to pay if AUKUS fails”, opposition defence spokesman Angus Taylor says.

The Pentagon is reviewing the AUKUS security pact between the U.S., the United Kingdom and Australia, USNI News has learned. The Office of the Secretary of Defense is conducting a review of the agreement,

Investors should not read too much into the AUKUS review. New US administrations routinely revisit major policies and deals as a regular exercise in due diligence.

Little penguins could prove to be a big headache for Australia’s AUKUS program. Work on the key infrastructure needed to support the first Australia-based nuclear-powered submarines will be just one broken wing away from being forced to stop, at least temporarily, under conditions imposed on the project by Environment Minister Murray Watt.