Trump Backs Off 20% Fee for Strait of Hormuz Shipments | Balance of Power 07/14/2026

Summary

The episode covers Trump's reversal on a 20% Strait of Hormuz shipping fee and the reinstatement of a naval blockade with renewed airstrikes on Iran. June CPI showed the first decline in six years, while Fed Chair Warsh gave hawkish testimony. Big banks reported strong earnings, IBM suffered a historic drop, and state AGs sued to block the Paramount-Warner Bros. Discovery merger. New York implemented a one-year moratorium on large-scale AI data centers.

• Trump backs off 20% Strait of Hormuz fee, replaces it with investment deals; naval blockade and strikes on Iran resume.
• Rep. Darrell Issa supports a two-track approach—peace talks and military force—to finish the Iran conflict.
• Former Ambassador Barbara Leaf says only a negotiated end can reopen the Strait, and Iran's asymmetric advantages give it leverage.
• CPI fell for the first time in six years; Trump touts the data, while Fed's Warsh says more work is needed on inflation.
• U.S. stocks and bonds rallied; big banks reported record trading revenues, but IBM lost $69 billion in market cap.
• Twelve state AGs, led by California, sue to block Paramount's $110B merger with Warner Bros. Discovery, alleging antitrust violations.
• New York Governor Kathy Hochul announces a one-year moratorium on large-scale AI data centers, drawing national attention.