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Oil Shock Drives Tariff Hikes as Iran War Escalates

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The House passed a resolution to withdraw U.S. forces from the Iran conflict, marking its second rebuke of the war since it began. A Senate attempt to advance a similar war‑powers measure fell short, 47‑49. In the last two weeks of fighting, the U.S. has struck Iranian targets while Iran hit American bases in the Gulf and Jordan, rattling global energy markets.

Brent crude surged $100 a barrel, its highest level since May, after Iran‑backed Houthi rebels attacked two Saudi oil tankers in the Red Sea and threatened to block the Bab el‑Mandeb Strait. The spike will hike costs for everyday goods, with UPS adding fuel surcharges. Shipping companies and consumers alike feel the ripple.

Meanwhile, the Trump administration overnight imposed tariffs on 59 countries and the EU, with 10% and 12.5% tiers, and announced 50% tariffs on selected Canadian goods. The policy, aimed at curbing forced‑labour imports, faces public disapproval, yet the administration argues it pressures trade partners.

In Madison, Wisconsin, police shooting of 38‑year‑old Corey Ruiz sparked a vigil and renewed scrutiny over police accountability. Meanwhile, a study found 89% of avocado‑oil products advertised as pure were adulterated, raising authenticity concerns for consumers.