The Iran war is straining the U.S. military for nothing
Donald Trump has authored a whole anthology of aphorisms demonstrating his deep disdain for the military he commands. He derided those killed in action as “suckers and losers,” said in reference to former prisoner of war John McCain that he prefers troops who weren’t captured, and said his “own personal Vietnam” was avoiding sexually transmitted infections while dating in New York City. The president’s latest entry arrived when he was asked about reports of miserable conditions and attempted suicides aboard the aircraft carrier USS Abraham Lincoln, which has almost nine ...
Trump has a credibility problem with Iran
After six months of war with Iran, President Trump has a credibility problem. His blustering threats, alternating with claims of imminent peace and victory, are doubted by friends and foe. Will his new threat this week on Truth Social of the “MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!” be different? By now the world will have to see it to believe it. No President has yet climbed the Iran sanctions ladder with China, moving from the isolated “teapot” refineries that buy Iran’s oil to the Chinese state-owned enterprises that support them. Nor has any ...
Trump may overplay his hand with economic threats
Three moves in the last week have exposed the limits of Donald Trump’s economic bullying. The US slapped 50% tariffs on another $20bn of Canadian goods – then threatened the same rate on the cars, trucks, parts and steel that America Inc depends on. On Monday, the Treasury secretary, Scott Bessent, menaced Iran’s trading partners with exclusion from the US financial network, hoping that coercion can deliver what months of war have not. And as the costs of war, tariffs and pro-billionaire tax cuts helped send US bond yields higher, the Treasury stepped in to tame long-term rates. ...