Transcript: Economic Warfare — Lessons From History, with Mark Harrison
The Economics Show hosted by Soumaya Keynes examined the effectiveness of economic warfare with historian Mark Harrison, who traced its evolution from revenue‑denial blockades in the 18th century to modern supply‑chain sanctions. He highlighted the Allied blockade that helped force Germany’s 1918 surrender and contrasted it with today’s Iranian oil restrictions and Western sanctions on Russia. Harrison argued that economic tools are most potent when paired with military pressure, but adversaries often adapt through trade diversion and substitution. The discussion underscored how civilian hardship is an inevitable by‑product of prolonged economic conflict.
Tokenization Makes Finance More Efficient but Introduces Risks: IMF
The International Monetary Fund warned that while tokenization can cut friction and boost transparency, it also introduces financial‑stability risks. About $27.6 billion of real‑world assets are already tokenized on‑chain, with forecasts ranging from $2 trillion to $16 trillion by 2030. The IMF highlighted...
How China Reinvented the BRI
The Belt and Road Initiative (BRI) rebounded in 2025, reaching $213.5 billion in project value and surpassing its 2016 peak. China’s foreign trade hit $6.3 trillion, delivering a record $1.2 trillion surplus. The BRI has been repurposed from pure infrastructure to a tool...
What the Iran War Will Cost Britain
Britain faces the steepest energy‑cost impact from the Iran war despite importing little oil or gas through the Strait of Hormuz. Pre‑war, the UK already endured the highest industrial energy prices among G7 nations, a grid strained by intermittent offshore...
Tanker Shipping Market Very Tight Due to Dislocation of Tonnage
A New York panel convened by NYMAR and YSPNY warned that tanker markets have become exceptionally tight after the onset of Operation Epic Fury, which displaced VLCCs and forced Suezmaxes and Aframaxes onto Asian routes. Panelists highlighted Asia’s heightened dependence on Middle‑East crude...
Central Banks' Inflation Mood Puzzle: More Judgment than Science
Central banks are grappling with how to gauge inflation expectations as an Iran‑driven energy shock filters through the economy. Traditional surveys and market indicators prove too slow, prompting policymakers to rely more on judgment and real‑time qualitative data. New tools—such...
Iran Can Stop Shipping With Mines, From the Gulf to the Red Sea
Iran retains a stock of roughly 5,000‑6,000 sea mines capable of threatening both military and commercial vessels in the Strait of Hormuz and the wider Gulf. The mines, ranging from ground‑influence to floating types, can be laid from civilian boats,...
Kudlow -Thursday, April 2
On Thursday, April 2, Fox Business aired a special episode of Larry Kudlow's program, featuring a roundtable on domestic and global economic policies. The show highlighted a presidential address and an interview with former Florida Attorney General Pam Bondi focusing...
Rival Nations Seize On Choke Points to Counter Trump
President Trump’s confrontational trade and military policies have prompted rival nations to exploit strategic choke points, threatening U.S. economic stability. Iran’s closure of the Strait of Hormuz has halted shipments that carry about 20% of the world’s oil, driving up...
Tariffs Strained U.S. Aluminum Supplies. Now the Iran War Is Making It Worse.
U.S. tariffs on imported aluminum have tightened domestic supply, and the escalating conflict in Iran is further disrupting global metal shipments. Manufacturers like Awake Window & Door in Arizona are already cutting production, while Reitnouer Trailers relies on roughly 4,500 pounds...
Oil Prices Jump and Shares Drop After Trump Threatens More Iran Strikes
Former President Donald Trump’s warning of further strikes against Iran sparked an immediate surge in oil markets, with Brent crude climbing over 8% and U.S. West Texas Intermediate briefly exceeding $110 per barrel. The rhetoric revived fears of prolonged disruption...
The US-China Trade War 1 Year On: Who Really Holds the Upper Hand?
One year after the US‑China trade war escalated, both economies remain locked in a fragile truce that prevents a full‑scale confrontation but leaves many tariffs in place. Washington continues to leverage technology export controls, while Beijing relies on its massive...
Saudi Maxes Yanbu Flows, Taps Storage in March
Saudi Arabia rerouted most of its March crude shipments to the Red Sea port of Yanbu, pushing crude exports to an average of 5.3 million barrels per day and refined product exports to about 800,000 b/d. The 1,200‑km East‑West pipeline reached full...
No IMF and World Bank Spring Meetings without a Global Crisis
The IMF and World Bank’s April 13‑18 spring meetings will be dominated by a supply‑side crisis sparked by the Iran war and the de‑facto closure of the Strait of Hormuz. Disruptions to oil, gas, helium and aluminum shipments are inflating...
Mosaic and Simplot Maintain Support for Fertilizer Tariffs
Mosaic and Simplot have filed support to keep countervailing duties on Moroccan and Russian phosphate fertilizers during the five‑year sunset review, seeking higher rates than the current 16.6%‑47% range. The duties, imposed in 2021 to offset foreign subsidies, are under...
U.K. Hosts Coalition Talks to Reopen Hormuz—Without the U.S.
The United Kingdom convened virtual talks with over 40 nations to form a coalition aimed at reopening the Strait of Hormuz, which Iran has effectively blocked since its war began on Feb. 28. The United States was absent, with President Trump...
Paul Krugman Smacks Down Trump Speech with Argument that $4 Gas Is ‘Less than Half’ of the Hormuz Hit. Here’s...
President Trump told the nation the United States does not rely on the Strait of Hormuz for oil, trying to calm markets after his ambiguous pledge to hit Iran hard. Nobel economist Paul Krugman countered that gasoline represents less than...
Morgan Stanley’s Defensive Playbook for Spiking Oil Prices Amid Iran War
Morgan Stanley is urging investors to adopt a defensive stance as the Iran‑Israel conflict pushes oil prices sharply higher. West Texas Intermediate futures surged more than 11% to $111.54 per barrel, the highest close since June 2022, while Brent rose...
Rubio Raises Concerns over China’s Detention of Panama-Flagged Ships
U.S. Secretary of State Marco Rubio warned that China’s heightened inspections of Panama‑flagged vessels pose a serious threat to global trade. He said the detentions and delays undermine the rule of law in Panama and destabilize supply chains. The United...
Administration Adjusts Metals Tariffs
President Donald Trump signed a proclamation revising the 2025 steel, aluminum and copper tariffs. Derivative products containing less than 15% metal are now duty‑free, while those above that threshold see the rate drop from 50% to 25% and are assessed...
The Next Global Food Crisis Has Already Begun
The closure of the Strait of Hormuz amid the U.S.–Israeli war on Iran has choked a key maritime route for fertilizer shipments, pushing nitrogen and phosphate prices up 20‑40 percent. Rising transport costs and insurance premiums are forcing farmers in...
Walton Global Courts Investors For U.S. Fund As Money Starts Shifting Away From Gulf
Walton Global has launched the U.S. Land Income & Growth Fund, a Shariah‑compliant vehicle aimed at offshore investors, especially in Asia and the Middle East. The fund seeks to acquire undeveloped, pre‑entitled land in high‑growth U.S. markets such as Dallas‑Fort Worth,...
India Inc Seeks Export Ban on Key Inputs, QCO Relief
Industry bodies, led by FICCI, have asked the Indian government to impose a temporary export ban on critical raw materials such as sulphur and non‑essential helium, while also relaxing Quality Control Orders to ease sourcing for SMEs. They propose fast‑track...
GCC Chief Urges UN to Halt Iranian Attacks, Protect Gulf Waterways
Gulf Cooperation Council Secretary‑General Jassim al‑Budaiwi appealed to the UN Security Council to halt Iran's daily missile and drone strikes across the Gulf and to safeguard uninterrupted navigation through strategic waterways. He warned that Iran's attacks have already disrupted the...
As Oil Shortages Deepen, Wartime Rationing Offers a Guide for Today’s Governments
The U.S.-Iran conflict has shut the Strait of Hormuz, cutting roughly eight million barrels of oil per day—about eight percent of global demand—and driving prices sharply higher. In response, the Philippines, South Sudan and Mauritius have declared emergencies or begun...
Wall Street's Pivot to April Not Without Drama
Wall Street closed a brutal Q1 with all three major indexes posting weekly gains, despite a volatile finish driven by President Donald Trump’s polarizing address and persistently high oil prices. Big‑tech names such as Apple, Nvidia and Marvell dominated headlines,...
Why India Should Leverage BRICS to Call for Ceasefire in West Asia
India, serving as BRICS chair for 2026, was urged by Iran’s president to use the forum to broker a cease‑fire after U.S. and Israeli strikes on Iranian territory. Despite the war’s spread to Gulf Cooperation Council states, BRICS has remained...
Matchett for War on the Rocks on Threats to Desalination Plants and Preparedness for Attacks in the Gulf
Ginger Matchett warns that Gulf desalination plants—critical for millions—are increasingly vulnerable to kinetic and non‑kinetic attacks, including missiles, drones, cyber intrusions, oil pollution, pipeline sabotage, and power shortages. Such disruptions could precipitate widespread water scarcity, economic distress, and humanitarian crises....
Energy Security Drives Coal ETF Assets to Double in March
The Range Global Coal Index ETF (COAL) saw assets double in March as investors rushed into coal amid heightened energy‑security concerns triggered by the Persian Gulf conflict. COAL climbed just over 11% in the month and has delivered roughly 60%...
Oil Prices Surge After Trump Vows To Hit Iran ‘Extremely Hard’
President Donald Trump warned of a two‑to‑three‑week escalation against Iran, sending oil markets into a frenzy. Brent crude surged more than 10% to breach the $100‑per‑barrel mark, while the 10‑year Treasury yield climbed above 4.3%. Mortgage rates followed, jumping to...
Govt Imposes Import Curbs on All Articles of Gold, Silver, Platinum
The Indian government has imposed a blanket import ban on all articles of gold, silver and platinum, overriding any existing contracts, letters of credit or advance payments. The Directorate General of Foreign Trade announced the revision of Chapter 71 of the...
US Seeks Bids for 10mn Bl Crude Release From SPR
The U.S. Department of Energy announced a second round of exchange contracts to loan up to 10 million barrels of sour crude from the Strategic Petroleum Reserve, with 2 million barrels available in April and 8 million in May. Companies must return the...
Another Fed Rate Cut Still Possible but Far From Guaranteed
The Federal Reserve kept its policy rate unchanged at 3.5‑3.75 % after the March 2026 meeting, with only one dissenting vote for a cut. The latest dot‑plot shows 12 of 19 policymakers still expect at least one more reduction this year,...
Kroenig Published in The DailyWire on US Options in Iran
Atlantic Council vice‑president Matthew Kroenig appeared on The Daily Wire to argue that the United States has already met its core objectives in the ongoing conflict with Iran. He claims Iran’s military capacity has been significantly weakened over the past...
Hamas Wants Guarantees of Israeli Troop Withdrawal Before Disarmament Talks, Sources Say
Hamas told mediators it will not discuss disarmament without guarantees that Israel fully withdraws from Gaza, as outlined in President Trump’s Board of Peace plan. The group presented demands to Egyptian, Qatari and Turkish envoys, insisting on an end to...
Dollar Index Rally Runs Out Of Steam- UDN Is A Bearish Dollar Index ETF
Analysts rate Invesco DB U.S. Dollar Index Bearish Fund (UDN) a buy as the dollar index’s recent rally to 100.64 appears to be losing momentum. Long‑term bearish pressures—rising U.S. debt, de‑dollarization trends, and a shift of central‑bank reserves toward gold—continue...
How To Break Up With China
The article outlines a strategic playbook for U.S. firms seeking to reduce dependence on Chinese manufacturing and market exposure. It highlights three core steps: mapping critical supply‑chain nodes, building alternative sourcing hubs in Southeast Asia and Mexico, and renegotiating contracts...
Strait of Hormuz Closure Pushes Asia-US Ocean Rates up 29%
The closure of the Strait of Hormuz has triggered a sharp rise in ocean freight rates on major east‑west lanes. Spot rates from the Far East to the U.S. West Coast jumped 29% since the end of February, while routes...
China Calls for Promoting Middle East Ceasefire in Talks with EU, Germany
China’s foreign minister Wang Yi urged the EU and Germany to push for an immediate cease‑fire in the Israel‑Hamas war and to secure safe passage through the Strait of Hormuz. He framed a cease‑fire as essential for maritime safety and...
India–Australia Trade Pact Completes Four Years; Trade Reaches USD 24.1 Billion in 2024–25: Govt
The India‑Australia Economic Cooperation and Trade Agreement celebrated its fourth anniversary, with bilateral trade climbing to $24.1 billion in FY24‑25. Indian exports to Australia more than doubled, reaching $8.5 billion, while overall trade grew 8 percent year‑over‑year. The pact grants India preferential access...
Trump Tariffs Cast Shadow as US-China Trade Shrinks Ahead of Xi Meeting
U.S. trade data released Thursday shows direct commerce with China continuing to shrink, reaching one of the lowest bilateral goods deficits in two decades. The decline follows last year’s tariff escalations, which have deepened economic tensions between the two powers....
Russian Dy PM Manturov, Modi Discuss Trade, Energy, Fertilizers Amid West Asia Tensions
Russian First Deputy Prime Minister Denis Manturov met Indian Prime Minister Narendra Modi in New Delhi to expand a strategic partnership covering trade, energy, fertilizers and investment. The talks, part of Manturov’s two‑day visit, focused on stabilising payment settlements, strengthening...
ECB's Villeroy: The Next Change in Rates Is Highly Likely to Be Upwards
ECB Governing Council member Francois Villeroy de Galhau signaled that the next monetary policy move is likely an interest‑rate increase, though he stopped short of setting a timetable. He emphasized the central bank’s readiness to act whenever conditions demand and...
Several Measures Announced to Cushion Exporters From Gulf Conflict Impact: DGFT
The Indian government announced a suite of measures to protect exporters from disruptions caused by the Gulf region conflict. Exporters of gems, jewellery, rice, pharma and other high‑value goods, which generated about $57 billion in FY 2024‑25, face rising freight costs, war‑risk...
Europe Diesel at Four-Year High Above $200 as Iran War Disrupts Supply
European diesel prices have climbed above $200 per metric ton, marking the highest level in four years. The surge is driven by supply disruptions stemming from the ongoing war in Iran, which has curtailed regional fuel exports. European refiners are...
Central Banks Gold Purchases Net up in February, but Russia, Turkiye Sell
Central banks bought a net 19 tonnes of gold in February, led by Poland’s 20‑tonne purchase and Uzbekistan’s 8‑tonne addition. China logged its 16th consecutive month of net buying, while the Czech Republic marked a 36‑month streak. Turkey and Russia...
So, What Was President Biden’s Grand Strategy?
The Atlantic Council podcast hosted by Matthew Kroenig features Rebecca Lissner discussing President Biden’s overarching foreign‑policy blueprint. Lissner outlines a strategy built on reinforcing alliances, promoting democratic norms, and countering China’s rising influence. The conversation also probes whether former President...
UK Accuses Iran of Hormuz ‘Hijack,’ Holding Global Economy Hostage
The United Kingdom accused Iran of hijacking the Strait of Hormuz, effectively holding the global economy hostage as Iranian attacks have halted almost all commercial traffic. Over 40 nations gathered virtually to discuss diplomatic pathways for reopening the waterway, emphasizing...
The Inside Story of How France Clinched the EU’s New Customs Authority
France secured Lille as the headquarters of the EU’s new Customs Authority after a three‑round vote, clinching exactly 36 votes in the final round. The agency, staffed by 250 officials, will coordinate customs enforcement across the bloc’s 27 member states...
Russia Bans Gasoline Exports as More Refineries Hit
Russia announced a full ban on gasoline exports from April 2 through July 31, expanding earlier limits to include all producers, including refineries. The decision follows a string of refinery outages that have shaved roughly 10% off domestic fuel output. By halting...