Trump Weighs Iran Ceasefire Amid Military Strikes and Canadian Tariffs

President Donald Trump is deciding between a 10-day ceasefire to reopen the Strait of Hormuz and a full-scale coordinated military campaign with Israel against Iran. This follows ten consecutive nights of U.S. military strikes on Iranian targets, launched after Trump vowed Tehran would pay for the deaths of three American soldiers.

Iran responded by targeting U.S. air defense systems, radar installations, and administrative buildings in Kuwait and Bahrain. The Islamic Revolutionary Guards Corps Research and Self-Sufficiency Jihad Organization claimed responsibility for attacks on ships in the Strait of Hormuz off Oman, including a recent strike on a tanker. Additionally, Houthi rebels threatened to blockade Saudi Arabian export routes in the Red Sea, prompting Saudi Arabia to pledge all necessary measures to protect its ships.

Parallel to the military escalation, the Trump administration signed orders on Monday to impose 50 percent tariffs on various Canadian goods. The administration cited unfair treatment and discrimination against American automotive, dairy, and alcohol products. These developments contributed to losses on Wall Street and pushed gold prices above $4,000 an ounce, though Asian markets rebounded on July 21 due to a recovery in chip stocks.