Iran has closed the Strait of Hormuz. This is a very important sea route in the Persian Gulf, through which about 20 percent of the world’s oil supply passes. Iran’s powerful army Islamic Revolutionary Guard Corps (IRGC) has said that this route is now closed for ships and if any ship tries to pass through…
In a major blow to President Donald Trump’s trade policy, the Supreme Court of the United States of America (SCOTUS) on 20 February struck down his global tariffs imposed under the International Emergency Economic Powers Act (IEEPA) of 1977. The apex court held 6-3 that Trump exceeded his legal authority by using IEEPA, which is…
American households and businesses absorbed nearly 90% of the cost of US President Donald Trump’s tariffs through late 2025, according to a new analysis by the Federal Reserve Bank of New York, as reported by usa today. Here’s what the report said The findings add to research suggesting that US families bear much of the…
President Donald Trump’s tariffs will cost the average American household $1,000 in 2025, according to new research from the non-profit Tax Foundation. The burden is expected to rise to $1,300 per household in 2026 if the existing tariffs remain in place. Trump has imposed multiple tariffs on US trading partners, including China, Canada, Mexico, and…
