1usThe Iran war

U.S. sanctions nearly 60 Iranian targets and threatens countries that keep trading with Tehran

Treasury’s “Operation Economic Outcast,” announced Monday, Aug. 24, puts China and other Iranian trading partners at risk of U.S. penalties—but sets no deadline.

Iran’s rial hit a record low on Monday, Aug. 24, raising import costs before this package takes full effect. PBS NewsHour reports that China buys 90% of Iran’s crude exports, so enforcing the threat against Chinese buyers—not adding Iranian names to a U.S. list—will determine Tehran’s oil-revenue losses.

ContextIran’s rial hit a record low on Monday, Aug. 24, raising import costs before this package takes full effect. [PBS NewsHour](https://pbs.org/newshour/show/a-look-at-the-new-u-s-sanctions-on-iran-and-threats-against-its-trading-partners) reports that China buys 90% of Iran’s crude exports, so enforcing the threat against Chinese buyers—not adding Iranian names to a U.S. list—will determine Tehran’s oil-revenue losses.

NBC NEWS12 sources

2usTariffs and trade

Trump imposed 50% tariffs on $20 billion of Canadian goods and threatened the same rate on autos and steel

Canada will retaliate dollar for dollar on Sept. 8 after U.S. trade talks collapsed.

The United States and Canada traded $762.10 billion in goods in 2024, according to the U.S. Census Bureau Foreign Trade Division. The newly targeted $20 billion equals about 2.6% of that annual trade. Of U.S. imports from Canada, 51.6% were industrial supplies and materials, including energy; 13.9% were automotive vehicles, parts and engines; and 13.8% were capital goods other than automotive products. Those shares describe the broader Canadian import mix, not necessarily the targeted $20 billion basket; Trump’s threatened Jan. 1 escalation would hit autos, auto parts and steel directly (U.S. Census Bureau, BEA end-use estimates, USAFacts).

ContextThe United States and Canada traded $762.10 billion in goods in 2024, according to the U.S. Census Bureau Foreign Trade Division. The newly targeted $20 billion equals about 2.6% of that annual trade. Of U.S. imports from Canada, 51.6% were industrial supplies and materials, including energy; 13.9% were automotive vehicles, parts and engines; and 13.8% were capital goods other than automotive products. Those shares describe the broader Canadian import mix, not necessarily the targeted $20 billion basket; Trump’s threatened Jan. 1 escalation would hit autos, auto parts and steel directly (U.S. Census Bureau, BEA end-use estimates, USAFacts).

AP12 sources

3us◀▶contestedImmigration enforcement

Trump proposes a $103,265 fee for each new H-1B skilled-worker visa

The employer charge would rise from $2,000-$5,000 today to at least 20 times that amount.

Federal law provides 65,000 general H-1B visas each year, plus 20,000 for workers with advanced degrees from U.S. schools. That makes 85,000 slots under the annual limits. Charging $103,265 for each would produce as much as $8.8 billion, compared with $170 million to $425 million at the current $2,000-$5,000 fee.

ContextFederal law provides 65,000 general H-1B visas each year, plus 20,000 for workers with advanced degrees from U.S. schools. That makes 85,000 slots under the annual limits. Charging $103,265 for each would produce as much as $8.8 billion, compared with $170 million to $425 million at the current $2,000-$5,000 fee.

THE NEW YORK TIMES10 sources

4us

Hawk Fire drives 42,000 people from homes near Reno

Another 45,000 people were told to prepare to leave as the 15,000-acre fire reached 27% containment Monday, Aug. 24.

At 15,000 acres, the Hawk Fire was more than 2.5 times the final 5,824-acre footprint of the 2024 Davis Fire south of Reno, according to the Truckee Meadows Fire Protection District. Evacuation orders and warnings together covered about 87,000 people. Investigators classified the fire as human-caused, but the supplied reports identify no specific cause.

ContextAt 15,000 acres, the Hawk Fire was more than 2.5 times the final 5,824-acre footprint of the 2024 Davis Fire south of Reno, according to the [Truckee Meadows Fire Protection District](https://tmfpd.us/2024/09/18/update-final-on-davis-fire-for-september-18-2024/). Evacuation orders and warnings together covered about 87,000 people. Investigators classified the fire as human-caused, but the supplied reports identify no specific cause.

CBS NEWS7 sources