US-Iran Clashes Escalate in Strait of Hormuz Despite Rhetoric Against War

The United States and Iran engaged in direct military confrontation on Tuesday, with Iran striking three American destroyers in the Strait of Hormuz and the U.S. retaliating by targeting Iranian military facilities responsible for the attacks.

CENTCOM’s statement confirmed: "U.S. Central Command (CENTCOM) eliminated inbound threats and targeted Iranian military facilities responsible for attacking U.S. forces including missile and drone launch sites; command and control locations; and intelligence, surveillance and reconnaissance nodes." The statement added, "CENTCOM does not seek escalation but remains positioned and ready to protect American forces."

While the Trump administration has avoided labeling the clashes as a resumption of war, the exchange of fire marks a significant escalation in tensions between the two nations.

Project Freedom: A Flawed Initiative

President Donald Trump’s Project Freedom, designed to ensure safe passage for ships in the Strait of Hormuz, was halted shortly after its launch. The plan involved using destroyers to provide an antimissile umbrella while U.S. helicopters protected against Iranian attack boats. However, the operation faced critical setbacks, including insufficient firepower due to the ongoing blockade of Iranian ports.

According to The Wall Street Journal, U.S. military officials began laying the groundwork for the operation in April by deploying uncrewed sea drones to scan for mines. The goal was to establish a new safe shipping lane along the southern edge of the strait. Despite these efforts, the operation failed to make a significant impact, and Iran continues to assert its dominance in the region.

Legal Setback: Court Rules Trump’s Global Tariff Unlawful

A three-judge panel at the U.S. Court of International Trade (CIT) ruled on Thursday that President Trump’s 10 percent "global tariff" is unlawful. The tariff, imposed in February, was blocked by the U.S. Supreme Court shortly after its announcement. Trump had attempted to use an obscure section of the Trade Act of 1974, which permits temporary tariffs only in cases of "large and serious United States balance-of-payments deficits." The U.S., however, does not meet this prerequisite.

Reason’s Eric Boehm reported that the CIT ruled Thursday that the president cannot impose tariffs under Section 122 without the required balance-of-payments deficit. The decision further limits the administration’s ability to impose economic measures without congressional approval.

New York’s Billionaire Culture Under Scrutiny

In unrelated news, a comment from New York’s financial elite sparked debate: "You can’t earn a billion dollars." The remark, which reflects a cultural tendency in the city where wealth is often downplayed, highlights the unique attitudes toward wealth in New York’s elite circles.