Mnuchin Reveals Trump's Iran Deal Gamble: "The Objective Is To Enter Into A New Agreement"
One of the growing concerns resulting from Trump's decision to pull the US out of the Iran deal, is that oil - and gasoline - prices will jump so much, now that anywhere between 200kb/d and 700kb/d in Iran exports is taken out of the market, they will offset most benefits to US consumers from the Trump tax cuts. We covered this topic three weeks ago in "Rising Gas Prices Threaten To Wipe Out Trump's Tax Cut Benefits." Incidentally, that's just one of the less severe complications that could emerge over the next 6 months as the full extent of the new Iran sanctions is rolled out. As we reported earlier, Trump said ... (full story)