How will the Iran War Impact Global Trade?

A few weeks into the War with Iran, it is clear the conflict will hit more than the market for crude. The blockage of the Strait of Hormuz has significant implications for the price – and availability – of petroleum intensive products affecting agriculture, logistics, manufacturing, defense and a slew of other core industries.

Scott Lincicome, Vice President of General Economics at the Cato Institute, one of the most cited voices in the national debate over U.S. trade policy, joins host Jay Sapsford to discuss recent moves to ease both Russian sanctions and the Jones Act. They also talk about what the war – and its focus on Hormuz, a vital chokepoint - says about our highly interdependent global economy.

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