Daily Archives: March 3, 2026

Strait of Hormuz Closure Disrupts Global Shipping and Energy Markets

Escalating military strikes between the U.S., Israel, and Iran have pushed one of the world’s most critical trade corridors into crisis. Following Iranian retaliation and the announcement that navigation through the Strait of Hormuz has been closed, global shipping, energy and containerized cargo alike, is facing severe disruption. What began as targeted military action has…

The Supreme Court Limits IEEPA: Where U.S. Tariff Policy Stands Now

In a 6–3 decision, the Court ruled that the President does not have authority under the International Emergency Economic Powers Act (IEEPA) to impose tariffs. The administration had relied on that 1977 statute to justify broad “reciprocal” duties and additional tariffs tied to trade deficits and fentanyl concerns. SCOTUS said that’s not what the law…