The Panicans will be greatly disappointed by the foresight and economic planning a proactive White House deployed before the confrontation with Iran began.  [Video and Transcript Below]

White House National Economic Council Director Kevin Hassett, leaves CBS’s Margaret Brennan stuttering to respond to the insight presented.  As noted in the interview, proactively the Trump administration planned to mitigate any oil disruption for the U.S, undertaking a series of moves before Operation Epic Fury began.

Iran thinks “that they’re going to harm the U.S. economy and get President Trump to back down,” Hassett says.  “There couldn’t be anything that was a stupider thing to say because the bottom line is that our economy has got all this momentum in the world and we’ve got lots and lots of oil,” he continued.

Then highlighting how the strength of the U.S. position actually ends up with leverage in trade negotiations, Hassett notes, “we have lots of trading partners that are more on the hook from imported oil from these guys.”  Which draws attention to President Trump’s statement yesterday saying, in essence, ‘come guard your oil shipments while we kill bad guys’. WATCH:

[Transcript] – MARGARET BRENNAN: We go now to President Trump’s top economic adviser, Kevin Hassett. Good morning to you.

KEVIN HASSETT, DIRECTOR NATIONAL ECONOMIC COUNCIL: Good morning.

MARGARET BRENNAN: The IDF spokesperson said this morning that Israel’s combat operations will go through the beginning of April. Is that also the U.S. timeline? And if so, how much will this conflict cost the economy if it goes on another three and a half weeks?

HASSETT: Right. Well, one of the things that we’ve been briefed on almost every day is what’s going on and what the president is being briefed on with regard to the Iran war. And as of yesterday this story was- the message was that people, the defense- Department of War believed that it would take four to six weeks to complete this mission and that we’re ahead of schedule. So we are a couple of weeks in and I think that should give you some clarity about when we expect that the president will decide that we’ve achieved his objectives. The other thing I can say is that you can also look at futures markets, which are interesting because you’ve cited over and over the spot price of gasoline, which, of course, is affected right now by the disruption of the strait, but if you look at the futures prices, they are expecting a rapid, rapid end to the situation and much, much lower prices. In fact, I don’t think I’ve seen a sort of future price path with such a steep decline in all my years watching futures.

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Kharg Island is a small coral island in Iran in the northern Persian Gulf. It is 34 miles (55 km) northwest of the port of Bushehr and vital to Iran’s oil industry.

The oil processing facilities at Kharg Island are a foundational component of Iran’s economy. Roughly 90 percent of Iran’s crude is processed at Kharg Island, and any disruption to its oil processing could cripple Iran’s economy.

President Trump announced: “Moments ago, at my direction, the United States Central Command executed one of the most powerful bombing raids in the History of the Middle East and totally obliterated every MILITARY target in Iran’s crown jewel, Kharg Island. Our Weapons are the most powerful and sophisticated that the World has ever known but, for reasons of decency, I have chosen NOT to wipe out the Oil Infrastructure on the Island. However, should Iran, or anyone else, do anything to interfere with the Free and Safe Passage of Ships through the Strait of Hormuz, I will immediately reconsider this decision.”

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U.S. Trade Representative Jamieson Greer and U.S. Treasury Secretary Scott Bessent are traveling to Paris this weekend to meet with the Chinese trade officials.  This meeting is in advance of President Trump’s visit to China for direct face-to-face discussions with Chairman Xi Jinping.

Given the recent events in Venezuela and Iran a lot of groundwork must be taking place for the Trump-Xi meeting.  Multiple Chinese interests have been impacted directly.  USTR Jamieson Greer discusses those preparatory issues as well as the recent announcement for Section 301 investigations and tariffs.  WATCH:

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While under federal indictment for improper retention, holding and releasing classified intelligence, John Bolton appears on NBC News to complain about how President Trump is conducting the war against Iran.

It is hilarious to see Bolton pontificate, with all the customary arrogant self-assurances, that President Trump did not plan for a scenario where the oil flows through the Strait of Hormuz would be disrupted, while simultaneously proclaiming President Trump is giving Russian President Vladimir Putin a gift with the lifting of oil/gas sanctions to support the global market.

His insufferable ignorance is laughable. John Bolton just cannot hear himself.  Trump didn’t plan for the oil shortage, but Trump lifted Russian oil sanctions.  Say that again slowly John, while looking in the mirror.  Trump didn’t plan for an oil shortage, but Trump planned to lift Russian oil sanctions.  Slow it down and repeat as needed, until the ah-ha moment sinks in.

Consider that President Trump did actually plan for the Strait of Hormuz to be closed; perhaps even planned for a long time for the issue {GO DEEP}.  And planned, well in advance, for an offset to deliver massive amounts of oil even with the Strait of Hormuz closed.

Give his narrow and stale globalist mind a little longer than normal to see the strategy; give him quiet time in a room with no windows to contemplate the outcomes he is witnessing; and we might even sell tickets to see the moment his ancient neocon brain explodes.

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‘Trump, you magnificent bastard, I read your book!’

President Trump and Treasury Secretary Scott Bessent are facing mounting criticism for creating a window for Russia to sell oil and gas to the global market via “narrowly tailored, short-term” sanction relief.  However, few people are putting the issue into context, and the background here is exceptionally interesting.

According to the terms announced by Secretary Bessent, the license to sell applies solely to Russian crude or petroleum products loaded onto vessels as of March 12 and is valid through midnight Washington time on April 11. [Treasury Notice Here – OFAC Technical Details Here]

[source]

The sanction relief license to sell will be done in globally recognized petrodollars and applies only to preexisting oil and petroleum products that are already in transit at sea.  However, here’s where it gets very interesting and the ramifications are significant.

Immediately following the Alaska summit between Russian President Vladimir Putin and President Trump, Russia restarted Arctic-2 LNG terminals and began increasing oil production for storage on ‘floating platforms.’  President Trump met with Putin on August 15, 2025, and the curious increase in Russian production began on August 18, 2025.

In the past six months Russia has been pumping sanctioned oil and gas and storing it on ships and mobile sea platforms, seemingly (at the time) with no customers.  Suddenly, against the background of the Iran conflict, all of that previously stored ‘on the water‘ production, now worth double, is authorized for global sale (in petrodollars).

Either Russian President Putin is the luckiest guy in the world, or Russia knew something.

In 2025 what Russia did following the Alaska summit did not make sense; now it does and the ramifications are stunning.

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When the Supreme Court made their ridiculous decision to nullify the import tariffs under the International Emergency Economic Powers Act (IEEPA) use, the high court noted several alternate approaches would not be legally problematic.  One of those approaches would be the use of Section 301 trade tariffs.

Yesterday USTR Jamieson Greer quietly announced that a Section 301 review would be taking place for the following countries: China, the European Union, Singapore, Switzerland, Norway, Indonesia, Malaysia, Cambodia, Thailand, Korea, Vietnam, Taiwan, Bangladesh, Mexico, Japan, and India.”

♦ Section 301 tariffs are a trade enforcement mechanism established under the Trade Act of 1974. They allow the U.S. government to impose tariffs on imports from countries that are found to be engaging in unfair trade practices. The Office of the United States Trade Representative (USTR) conducts investigations to determine if a country is violating trade agreements, and if so, it can impose tariffs as a corrective measure {SOURCE}

USTR PRESS RELEASE – WASHINGTON — Today, United States Trade Representative Jamieson Greer announced the initiation of investigations regarding the acts, policies, and practices of various economies under Section 301(b) of the Trade Act of 1974 relating to structural excess capacity and production in manufacturing sectors.

The investigations will determine whether those acts, policies, and practices are unreasonable or discriminatory and burden or restrict U.S. commerce. The economies subject to these investigations are: China, the European Union, Singapore, Switzerland, Norway, Indonesia, Malaysia, Cambodia, Thailand, Korea, Vietnam, Taiwan, Bangladesh, Mexico, Japan, and India.

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It is transparently obvious now that Canada is going to rely on UniParty (Corporate) opposition to President Trump in the dissolution of the USMCA (CUSMA) in favor of two distinctly different bilateral trade agreements; one with Canada and one with Mexico.

A bilateral trade negotiation between the United States and Canada would be devastating to the interests of the Canadian government.  Particularly after the Venezuela operation and new strategic relationship with the United States, Canada has almost zero points of leverage to negotiate anything similar to their current exploitative trade position.

Canada is going to rely on congress to stop Trump from forcing reciprocity in the bilateral discussions. However, as a positive indicator that President Trump will factually have congressional support for the elimination of the USMCA, Democrat Senator Ruben Gallego has written a letter to President Trump requesting a comprehensive review. [LETTER HERE]

[SOURCE]

This is a key Senate democrat who notes the problem.  One of Gallego’s top points of concern is the loophole that Canada uses to assemble Chinese component parts into finished goods for tariff free distribution into the United States.

Ever since President Trump won the 2024 election, Mexico has been taking proactive independent action to block Chinese component goods. But Canada has done the opposite and begun to enhance their trade relationship with China to take even more Chinese component and finished goods.

Gallego writes to U.S. Trade Representative Jamieson Greer from the position of wanting to increase wages and enhance jobs in both Mexico and the USA, growing both economies. However, Gallego’s advocacy simultaneously bolsters why the USMCA should be dissolved and also puts Canada at a distinct disadvantage.

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The fact that Team Russia and Team USA would be discussing a strategic economic alliance on the issue of energy is not a surprise to those who watched both President Putin and President Trump outline that same content discussion in Alaska last August.  However, given the current conflict with Iran and the escalating oil price issue, Russia and the USA discussing Russian oil capacity and U.S. sanctions therein takes on a new angle.

It has been obvious that domestic U.S. politics, in combination with the Russia-Ukraine war, has impeded President Trump from organizing a strategic reset with Russia pulling away from historic conflicts.  However, CTH is also clear-eyed on the longer-term ramifications for Eastern Europe when contrast with Putin’s ambitions to fix what he perceives as prior Russian Federation mistakes regarding the West (more on that at the end).

As noted in social media exchanges from Witkoff and Dmitriev, the discussion was productive.

[SOURCE]

All indications of this meeting give the appearance of less focus on progress in the Ukraine-Russia conflict, and a higher focus on current economic conditions -created by the Iran conflict- that could be enhanced with cooperation between the U.S. and Russia. {GO DEEP BACKGROUND}

According to Kirill Dmitriev, Russian special presidential envoy for investment and economic cooperation with foreign countries and director general of the Russian Direct Investment Fund (RDIF), relayed through the Russian News Agency (TASS), “he visited the US upon orders from Russian President Vladimir Putin, taking part in a meeting of the heads of a working group on economic cooperation between the two countries.”

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Tanker ships in the Gulf region continue to be targeted by various Iranian munitions including air and sea drones.  Three tanker ships were hit today.  Secretary of Energy Chris Wright appears on Fox News to discuss the issues with Iran and the decision to release oil from the SPR.  WATCH:

WASHINGTON—U.S. Secretary of Energy Chris Wright released the following statement regarding the International Energy Agency (IEA) and the U.S. Strategic Petroleum Reserve (SPR):

“Earlier today, 32 member nations of the International Energy Agency unanimously agreed to President Trump’s request to lower energy prices with a coordinated release of 400 million barrels of oil and refined products from their respective reserves.

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Today, President Trump is travelling to Kentucky to deliver remarks at Verst Logistics in Hebron Kentucky to promote and emphasize the MAGAnomic manufacturing revitalization.  The anticipated start time for his remarks is approximately 4:30pm ET, with livestream links below:

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