🔴 Tension RisingCouncil on Foreign Relations2026-05-12
President Trump declared the ceasefire with Iran was on ‘life support,’ announcing plans to address the war’s costs for U.S. households. He intends to suspend the federal gas tax and temporarily halt beef tariffs to mitigate rising prices. Simultaneously, Iran is experiencing significant economic fallout, including job losses and a severe impact from its ongoing internet shutdown.