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U.S. President Donald Trump called on Congress to add tariffs on Iran to a sanctions bill against Russia and Tehran that has bipartisan support. However duties would have little effect, as the U.S. imports nearly nothing from Iran.
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Commonwealth Bank of Australia said in a note on Friday that stronger oil flows through the Strait of Hormuz had eased market concerns after U.S.-Iran strikes earlier this week.
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The Bank also expects the economy to grow more than previously forecast this year, although uncertainties remain because of the Iran war.
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