- Military pressure and sanctions against Iran escalate, leading to a renewed blockade and retaliatory attacks on Saudi Arabia.
- US strikes in the Middle East pushed oil prices higher, coinciding with reports of tax hikes affecting economic stability.
Newsom and Bessent proposed tax measures while Iran war resolution could lead to lower oil prices.
1 report, 1 independent
Updated May 28
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What happened
Newsom and Bessent proposed tax measures while Iran war resolution could lead to lower oil prices.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Newsom blamed Trump's war for high fuel prices, while Valadao urged him to suspend a gas tax hike.Sub-event
Tax proposals and Iran resolution link to global economic shifts.1 source
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The entities involved
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Donald Trump
American businessman and politician (born 1946), President of the United States (2017–2021; since 2025)
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Gavin Newsom
40th governor of California since 2019
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Scott Bessent
United States Secretary of the Treasury
Related events
- The ongoing war with Iran is causing significant economic repercussions, leading to increased consumer costs across the country.
- Trump issued threats against Iranian civilian targets and imposed tariffs on Canadian products, amid ongoing war impacts on oil prices.
- Bessent links G20 consensus to economic isolation of Iran, while Trump's order drives revised international tax compliance, tracking illicit Bitcoin funding via factors including Syria's rescission.
- Donald Trump initiated the war in Iran, leading to consequences that affect the US economy and political support.
- High gas prices resulting from the Iran war are prompting comments from both Donald Trump and Gavin Newsom.