politics

Iranian parliament has approved a plan to close the Strait of Hormuz. Honestly not the first move I thought they would take as a response to the USA.

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Most likely, the response to this will also be military.

Yea. I would imagine that their Navy has begun dropping mines and the US is probably working on how they want to respond. I'm kind of curious to see if continued escalation makes Trump rethink tariffs at all.

I don’t think major disruptions in global oil supplies would last long, more like short-term price.

Well I wasn't thinking for political reasons so much as economic/supply reasons. The US gets a lot of oil from Canada and is tariffing that oil 10%, for example.

Yes, China is going to be very annoyed with this move.

if it becomes politically advantageous to temporarily freeze or change them, he’ll do it. 
Btw, China imports a large amount of oil from the Persian Gulf countries. 
And all that oil is transported by tankers through the Strait of Hormuz. I don’t think they’ll like this idea.