The Islamic Revolutionary Guards Corps claimed responsibility for the attack, saying it acted in response to U.S. strikes on an Iranian vessel.

Japanese shipowners are typically conservative, and few Japan-linked vessels have passed through the Strait of Hormuz since Tehran effectively closed off the waterway.

he proposed tariffs would exempt some products, including beef, coffee, rare earth metals, aircraft equipment and certain fruits and vegetables, among the main goods the U.S. imports from Brazil.

Manufacturers are wary of getting caught flat-footed as they did during the COVID-era semiconductor shortage.

China’s biotech sector is booming, but its growth has coincided with backlash from the U.S.

Some of the ships that have crossed belong to companies that hadn’t transited Hormuz since the war began.

A judge on the U.S. Court of International Trade, has indicated concern that the government has not fully complied with a directive to return all of the money amassed under IEEPA duties.

Control over the corridor is central to tortuous negotiations between the U.S. and Iran aimed at ending the conflict.

The NPC warns that the U.K. has done a poor job stockpiling everything from critical medicines to food supplies, leaving the country exposed to cascading economic disruptions.

European productivity growth has continued to lag behind the U.S., putting added pressure on exporters already grappling with weaker global demand and trade uncertainty.