Iran Hormuz Crisis escalates and is now closed: US-Israel strikes trigger Iranian retaliation, IRGC warnings halt tanker traffic through the Strait of Hormuz (20% of global oil supply at risk). Brent crude prices surging, with analysts warning $100-150+ if disruptions persist. Major carriers (Maersk, MSC, Hapag-Lloyd) suspend transits—shipping chaos compounds delays and fuel costs.

At the same time, Trump's defiant response to February Supreme Court ruling striking down IEEPA tariffs: 10% global import duty under Section 122 (effective Feb 24, 150 days max), with indications to hike to 15%. Shadow trade wars emerge via licensing schemes, potential fees, and workarounds bypassing oversight—adding volatility to already strained supply chains.

Host Justin Hayden Miller (global trade strategist, ex-Big 4/ top law firm) unpacks the paradox: independent crises amplifying each other. Hear his prescient Nov 2025 warning (Episode 15 clip) on fuel spikes + tariffs—now playing out.

Key takeaways & survival guide:

Oil hedging, supply chain delays, tariff inflation, rethink strategy, vertical integration, renewables self-sufficiency, onshoring, hyperlocal model, navigate uncertainty, pre-clearance, licensing shifts, multipolar trade realignment

Essential for business leaders, importers, CFOs facing compounded risks. We're in a gale—prepare for the hurricane.

Disclaimer: Not legal/tax/financial/business advice—consult qualified professionals concerning your specific circumstances.

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*Disclaimer: This podcast is simply for informational and entertainment purposes only and does not in way constitute legal, business, financial or other advice whatsoever. Should you require advice then please seek such from an appropriately qualified professional, explaining your specific circumstances.

Iran War: Oil Crisis - First reactions