President Donald Trump’s latest move in the war in Iran alarmed a supply chain analyst on Sunday.
Over the weekend, Trump called on other countries to help the U.S. clear the Strait of Hormuz, which the Iranian regime has fortified in response to the coordinated bombing campaign conducted by the U.S. and Israel that began in late February. About 20% of global liquefied natural gas and oil trade passes through the Strait of Hormuz, and Iran has said U.S. and Israeli ships can no longer transit the waterway.
That call for reinforcements came as U.S. forces struck Kharg Island, a main oil export hub for the Iranian regime. Iranian forces have also attacked multiple ships traveling through the Strait of Hormuz, according to reports.
CNBC Supply Chain Analyst Lori Ann LaRocco warned in an interview on Sunday that the Trump administration’s inability to make the Strait of Hormuz safe for international trade could have long-lasting implications.
“A lot of people that I’ve talked to, a lot of tanker owners, they’re very afraid of being a target,” LaRocco told MS NOW’s Alex Witt on Sunday. “We’ve already seen a tanker on fire. This is not a very easy remedy.”
LaRocco mentioned that prices for goods ranging from fertilizer to semiconductors have skyrocketed due to disruptions in the Strait of Hormuz.
“There’s so much that we’re not even thinking about that’s going to slap us in the pocketbook, not only now, but in the months to come,” LaRocco said.
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