Free Republic

President Trump has reportedly told his aides to prepare for a prolonged US blockade of the Strait of Hormuz, the world’s most critical waterway for global energy flows. On Wednesday, the president told Axios he is maintaining the blockade until Iran agrees to a deal over its nuclear program. The pressure campaign carries mounting costs beyond Iran. While the near-total cessation of flows through the key waterway is cutting off hundreds of millions of dollars in revenue for Tehran, it’s also choking key corners of the global market. By extending the blockade, Trump is wagering that Iran’s export-dependent economy will...

US stocks retreated on Monday as investors grappled with the fallout from the Supreme Court's rebuff of President Trump's most sweeping tariffs, which has thrown major trade deals into doubt. The Dow Jones Industrial Average (^DJI) led the way down, losing roughly 1.3%, or over 600 points. Meanwhile, the S&P 500 (^GSPC) and the tech-heavy Nasdaq Composite (^IXIC) both fell roughly 0.6%, coming off a volatile but winning session on Friday. Growing uncertainty about the global trade landscape is unsettling markets amid debate about Trump's next moves and reaction from countries that have signed US trade pacts. The Supreme Court's...