The World in Brief from The Economist

Donald Trump gave Iran 48 hours to make a deal or open the Strait of Hormuz, after which it would face “all hell”; European policymakers are privately pushing back against new windfall taxes on big oil, labelling the measures as premature, a source close to the negotiations told the Economist.

Iran’s foreign minister, Abbas Araghchi, warned that “Radioactive fallout will end life” in the Gulf, after a fourth attack on the area surrounding Iran’s only operational nuclear power plant in Bushehr

Iran’s foreign minister, Abbas Araghchi, warned that “Radioactive fallout will end life” in the Gulf, after a fourth attack on the area surrounding Iran’s only operational nuclear power plant in Bushehr

Iran and America scrambled to find the pilot of an American F-15 fighter plane that was shot down over southern Iran; Israel struck Beirut, Lebanon’s capital.

The Trump administration said it would ask for a significant rise in defence spending in its budget request to Congress for the 2027 fiscal year

Iran hit a second American plane, according to reports citing American officials; America’s economy added 178,000 jobs in March, much more than expected.

Donald Trump warned that America would destroy Iran’s “bridges next, then electric power plants”. Also, Mr Trump sacked Pam Bondi, America’s attorney-general.

America’s main oil benchmark rose to its highest level since mid-2022 on Thursday after Donald Trump warned in a televised address that he would hit Iran “extremely hard”.

Oil prices rise; Trump unveils new tariffs on pharmaceuticalsAmerica’s main oil benchmark rose to its highest level since mid-2022 on Thursday after Donald Trump warned in a televised address that he would hit Iran “extremely hard”; Mr Trump unveiled tariffs of up to 100% on some branded drugs, targeting pharmaceutical companies that have not lowered prices or increased manufacturing in America.