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President Trump’s tariffs take effect amid high wartime gas prices
MS NOW • • world
Key Points:
- President Donald Trump stated he is "absolutely" considering resuming full-scale war with Iran if the U.S. does not achieve all its demands, amid escalating tensions and new tariffs taking effect.
- Gas prices in the U.S. rose to an average of $4.11 per gallon as Trump's tariffs on goods from over 80 countries threaten to increase financial strain on Americans ahead of the midterm elections.
- The new tariffs, challenged in court and potentially costing American households an extra $1,100 annually, come amid rising inflation and energy prices driven by the ongoing conflict with Iran.
- Despite ongoing conflict and economic pressures, there has been little progress toward a peace agreement or reopening of the Strait of Hormuz, a critical trade route closed by Iran earlier this month.
- Public patience with the economic costs of the conflict is waning, including among Trump supporters, while legal challenges to the tariffs continue, and the president has made limited public efforts to address Americans' financial concerns.
