U.S. to instate Strait blockade. And, states sue to stop Paramount-Warner Bros merger
President Trump has announced a new blockade on Iranian shipping in the Strait of Hormuz, including a 20% toll on cargo. Meanwhile, a dozen states are suing to block the proposed merger between Paramount and Warner Bros. Discovery, citing antitrust concerns.
Why it matters
The blockade threatens global oil supply chains, while the antitrust lawsuit could significantly reshape the U.S. media and entertainment landscape.
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President Trump announced yesterday that the U.S. would reimpose a blockade on Iranian shipping. The blockade will go into effect on Tuesday at 4 p.m. ET. Trump also said the U.S. would impose a 20% toll on cargo moving through the waterway while allowing ships from other countries to pass. The move follows renewed U.S. and Iranian strikes that have pushed last month's ceasefire closer to collapse. The Strait carries about one-fifth of the world's oil shipments.
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