Last mentioned: 5d ago
Global Austerity
IMF warns of GDP contraction; SE Asian nations implement emergency energy-saving protocols.
Market Shock
Oil prices peak at nearly $120 as 20% of world oil supply is cut off.
Missile Strikes
U.S. and Israel launch strikes killing Ayatollah Ali Khamenei; Strait of Hormuz is effectively closed.
Pre-Conflict Baseline
Oil prices trade below $70 per barrel with stable global supply.
IMF Review Released
The IMF issues its formal review urging the U.S. to ease trade restrictions and coordinate with partners.
High-Level Consultations
IMF Chief Georgieva meets with Treasury Secretary Scott Bessent and Fed Chair Jerome Powell.
New Tariff Invocation
President Trump taps a different legal authority to impose a 10% global tariff.
Supreme Court Ruling
The U.S. Supreme Court strikes down several of the Trump administration's initial tariff measures.
The effective closure of the Strait of Hormuz following U.S. and Israeli missile strikes has removed 20 million barrels of oil per day from the market, sending prices as high as $120. This geopolitical shock is driving global inflation, threatening food security in emerging markets, and forcing drastic energy conservation measures across Asia.
The International Monetary Fund has urged the United States to pivot toward multilateral cooperation and ease trade restrictions following a year of aggressive tariff policies. While the IMF acknowledges valid concerns regarding the U.S. trade deficit, it warned that current protectionist measures and rising public debt pose significant risks to global financial stability.