The Long-Term Economic Damage From the Iran War
Even with a ceasefire agreement, stranded vessels, rising fuel costs and the prospect of a US retreat from the Gulf are rippling through global trade.
A ship passing through the Strait of Hormuz.
Photographer: Giuseppe Cacace/AFP
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On this episode of Trumponomics, host Stephanie Flanders examines how the US-Israel war with Iran has choked one of the world’s most vital shipping routes and tested the foundations of global trade. With traffic through the Strait of Hormuz severely constrained and hundreds of vessels backed up, the disruption is pushing up energy prices and raising fresh concerns about the reliability of supply chains. More broadly, President Donald Trump’s threat to leave securing the Persian Gulf to others could have far-reaching consequences for the world—and US power.