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U.S. President Donald Trump has dramatically escalated rhetoric amid the Israel–Iran war, calling for Iran’s “unconditional surrender” and warning Tehran civilians to evacuate.

Analysts warn that Section 899 of the “One Big Beautiful Bill”—Donald Trump’s proposed retaliatory tax on foreign entities—could deter investment by imposing a tax starting at 5 %, rising to 20 %, on companies from countries that levy “unfair” taxes on US entities.