Trump's strikes on Iran could cost the American economy up to $210B, report says [View all]
Source: The Independent
Wednesday 04 March 2026 05:36 EST
The U.S. war with Iran could cost the American economy as much as $210 billion, according to fiscal analyst Kent Smetters, director of the widely used Penn Wharton Budget Model. The ongoing conflict is already driving disruption to trade, global energy markets, and gasoline prices, though it is difficult to precisely estimate how much the war will impact the economy, Smetters told Fortune.
His predictions currently estimate a $115 billion economic loss, though that figure could range between $50 billion and the upward bound of $210 billion depending on the nature and duration of the conflict.
“One problem I have with cost of war calculations is that they really do ignore the counterfactual,” he told the outlet. “If Iran really did get a nuclear weapon, then we might have spent a lot more on military and even repair of cities later on.”
The president has already acknowledged the economic threat of the war, offering government-backed insurance and potential naval escorts to energy tankers moving through key chokepoints in the Gulf region.
Read more: https://www.the-independent.com/news/world/americas/us-politics/trump-war-iran-economic-impact-b2931403.html
Link to Fortune Magazine REPORT - Trump’s strikes on Iran could cost American economy as much as $210 billion, top budget expert says
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