Trump Escalates Iran Response as Oil Prices Rise and New Tariffs Take Effect

President Donald Trump is warning of possible further military action against Iran as the United States continues strikes and tensions increase across the Middle East.

In an interview with Axios, Trump said he is considering different options, including a larger military response or a potential agreement with Iran. The comments come after nearly two weeks of continued strikes, with Iran showing few signs of backing down.

The conflict is also creating new concerns for global energy markets. Houthi rebels, who are backed by Iran, have moved to block parts of the Red Sea, adding pressure to a major shipping route used for transporting goods and energy supplies.

Oil prices have climbed as concerns grow over disruptions to global supply. According to AAA, the average price for a gallon of gas has risen back above $4, reaching $4.10.

Some lawmakers are calling for a resolution to the conflict and urging efforts to stabilize energy costs. Others say long-term energy production could eventually help reduce prices.

The Trump administration has released 172 million barrels from the Strategic Petroleum Reserve in an effort to help offset higher prices, leaving the emergency stockpile at its lowest level in decades.

Meanwhile, the administration is also moving forward with a new round of tariffs targeting dozens of countries after previous temporary import taxes expired. The tariffs are being implemented under Section 301 of the Trade Act, with officials citing concerns over forced labor practices.

The announcement comes as some U.S. businesses challenge the tariffs in court, arguing the administration exceeded its authority.

Explore: NBCPalmSprings.com, where we are connecting the Valley.