Strait of Hormuz blockade threatens Australian economy

Donald Trump has implemented a blockade in the Strait of Hormuz, preventing all maritime traffic from entering or exiting Iranian ports. The closure is expected to cause petrol and grocery price increases in Australia, potential food shortages globally, and Westpac forecasts three additional interest rate hikes if the blockade continues. Australian commentators discuss the economic impacts and uncertainty affecting families, noting that even Trump's staunchest supporters are beginning to speak out against the action.See omnystudio.com/listener for privacy information.