The Trump administration initiated a trade investigation — and signaled more to come — that will likely result in new tariffs on global trading partners.
Why it matters: The White House is making good on its promise to reinstate the sweeping tariffs struck down by the Supreme Court.
U.S. and Israeli military strikes on Iran are playing out in the air and at sea, while a parallel fight is unfolding online.
Why it matters: Iranian actors — both state-linked and loosely affiliated — have a history of cyberattacks against the U.S., but the U.S. and Israeli governments are now using similar tactics.
More than 43,000 American citizens have safely returned to the U.S. from the Middle East since the U.S. struck Iran 11 days ago, the State Department said Wednesday.
Why it matters: Despite widespread panic among Americans abroad last week after the State Department encouraged citizens to immediately evacuate various countries, the agency now says its scaling back assistance due to declining demand.
President Trump told Axios in a brief phone interview Wednesday that the war with Iran will end "soon" because there is "practically nothing left to target."
"Little this and that... Any time I want it to end, it will end," Trump said during the five-minute call.
Why it matters: Even as Trump publicly signals his operation has largely accomplished its objectives, U.S. and Israeli officials say there has been no internal directive on when fighting might stop.
The International Energy Agency said Wednesday its member governments will jointly release up to 400 million barrels of oil from strategic stockpiles after the Iran war set off a chaotic spike in crude prices.
Why it matters: It would be the largest joint release in the history of IEA, which coordinates members' emergency responses to oil shocks.
The Consumer Price Index was steady in February, and a gauge that excludes food and energy costs held at the lowest in four years, the government said on Wednesday.
Why it matters: Inflation was stable last month, but new price pressures from the Iran war have since emerged — a fresh factor for consumer affordability concerns.
Russia and other oil exporters outside the Mideast — and not ensnared in the conflict — are emerging as the economic winners in the Iran war.
Why it matters: The market mechanisms are perhaps obvious here — higher oil prices are good for nations that sell oil — but are worth underlining, as the energy market shift plays into the geopolitical calculations.
The B-52 flew in the Vietnam War. It still flies, most recently blasting Iranian ballistic missile and command-and-control sites.
Why it matters: Few war machines have the staying power of the Stratofortress. Boeing built hundreds of them, some of which are being maintained and upgraded today.
Ten days after the U.S. and Israel struck Iran, President Trump's endgame is a murky, ever-moving target.
The big picture: Across interviews, press conferences and social media, Trump floated and erased timelines, predicted the war's end or promised new escalation, and argued he must choose Iran's new leader while the administration denies regime change is the goal.
The U.S. military destroyed 16 Iranian mine-laying naval vessels on Tuesday amid concerns that Iran is preparing to deploy mines in the Strait of Hormuz.
Why it matters: A senior U.S. official told Axios the strike on the inactive ships was a preemptive measure that was a result of intelligence about Iran's operational plans.
Mixed signals from President Trump and his own Pentagon are leaving allies, markets and lawmakers guessing how — or when — the Iran war ends.
Why it matters: Every week without a resolution deepens economic pain at home and instability abroad — raising the political stakes for Trump ahead of the midterms.
The Trump administration asked Israel on Monday not to carry out further strikes on energy facilities in Iran, particularly oil infrastructure, according to three sources familiar with the matter.
Why it matters: The U.S. request marks the first time the Trump administration has reined in Israel since the two countries launched their joint operation against Iran ten days ago.
The Iran war's fuel-price shock is slamming states that could decide Senate control in November, a potential headache for Republicans defending their majority.
After President Trumpthreatened further "Death, Fire, and Fury" against Iran, the secretary of its Supreme National Security Council issued an ominous warning to him on social media.
The big picture: Despite Trump signaling that the war is nearing a close, he has made it clear that he doesn't accept Iran's newly installed leader, Mojtaba Khamenei, and won't tolerate attempts to choke off oil coming through the Strait of Hormuz.
Nearly seven months ago, Ukrainian officials tried to sell the U.S. their battle-proven technology for downing Iranian-made attack drones. They even made a PowerPoint presentation — obtained exclusively by Axios — showing how it could protect American forces and their allies in a Middle East war.
The Trump administration dismissed the Ukrainians, only to reverse course last week because of more-than-expected drone strikes from Iran.
Why it matters: Snubbing Ukraine's offer ranks as one of the biggest tactical miscalculations by the administration since the bombing of Iran began Feb. 28, two U.S. officials tell Axios.
Oil prices would need to stay high for years — not weeks or months — to drive a lasting shift away from the fossil fuel.
The big picture: Every time oil spikes, the same question surfaces: Will this push more people into electric cars or install solar panels onto rooftops?
Ten days into President Trump's Iran campaign, the war has gone global.
At least 20 countries are now militarily involved — shooting, shielding or quietly supplying — while a widening energy shock punishes nations far from the front lines.
Why it matters: This isn't World War III. But it may be the closest we've come in decades — drawing in more countries, more great powers and more overlapping conflicts than any crisis since the Cold War.
