Iran takes US for a ride on Hormuz, Trump retaliates: Shishir Gupta explains what's likely next

The Iran war has turned the Strait of Hormuz into a choke point, with Tehran hitting Gulf states and tankers while the US pounds ports and air defences. Shishir Gupta explains Trump’s hard‑line strikes, Iran’s bid to tax global shipping, the risk of regime‑change gambits, and what spiralling oil prices mean for the world.