War with Iran spreading economic damage far beyond oil, gas markets

Washington Post: But the pain is not being felt equally. The cost of shipping goods by air from Asia to Europe is up 45 percent since the war began, more than twice the increase for sending items from Asia to the United States, said Ryan Petersen, chief executive of Flexport, a freight forwarder and logistics company in San Francisco.

The shipping impact illustrates a broader economic truth: The war is hitting the economies of Europe and Asia harder and faster than it is striking the United States…

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