From Indian films to Italian wine, Trump’s Iran war is rippling through the world economy

Now the effects are reaching industries that might have seemed insulated from the fallout. Read more at straitstimes.com.

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NEW YORK - The supply shockwaves from the US and Israel’s war in Iran are spreading across the global economy, raising concerns about an inflation hit to companies and consumers that will require policymakers to raise borrowing costs.

While US President Donald Trump’s chaotic tariff campaign took months to filter through supply chains, the spiking prices for oil, gas, aluminum, fertilisers and chemicals since the bombing of Tehran began on Feb 28 have rapidly been felt by factory managers, farmers and freight carriers.

Now the effects are reaching industries that might have seemed insulated from the fallout, or too far away to feel it. 

And that is unlikely to be reversed soon even as Mr Trump signalled on March 23 that a potential cease fire was possible.

In Bengaluru, producers of the 6 billion rupee (S$82 million) Toxic: A Fairy Tale for Grown-ups have delayed release from March to June for fear of missing out on cinemagoers across the Gulf region – a huge market for Indian films due to its vast South Asian diaspora.