world-economy
Freightwatch Reporter
Freightwatch.news
Wednesday, May 13, 2026
President Donald Trump rejected Iran's response to a U.S. peace proposal Wednesday, declaring the terms unacceptable and warning of imminent military intervention. Trump posted on social media that Iran must respond within two days through Pakistani mediators, with bombing to commence if negotiations fail. Oil prices climbed following Trump's ultimatum, reflecting market concerns over potential Middle East escalation. The standoff marks another flashpoint in Trump's second term. His administration also faces legal challenges on other fronts, including a federal court ruling that blocked his 10% global tariffs as unlawful.