• China rejects Trump threat: China, a major trading partner with Iran, pushed back against US President Donald Trump’s threat of an “economic D-Day” against Iran, saying sanctions do not “fit the interest of any party.”
• Iran pushes back: Tehran also condemned Trump’s economic threat, with the Iranian Foreign Ministry calling it “a recipe for an abysmal return to full-scale classic colonialism.”
• Gas prices: Trump promised gas prices will soon come down, describing the war as “a little detour.” American drivers are paying nearly $1 more per gallon, compared with a year ago.
• Strait of Hormuz: This past week, the number of ships traversing the critical waterway rose 27%, according to a CNN analysis of figures from the UKMTO. Still, that is only 20% of the pre-war average.
US Treasury Secretary Scott Bessent will hold a news conference Monday after he promised to unveil “the toughest sanctions in history” against Iran.
