Donald Trump’s assault on Iran will ship an even bigger blow to European and Asian economies than to the US itself, which will likely be partly cushioned from the results because of its giant home power sector, analysts say.
The US has been a internet exporter of pure gasoline since 2017 and of oil since 2020, official figures present, which means its personal power sector advantages from surging costs, even when the typical American family will likely be hit exhausting by rising petrol prices.
By distinction, European and Asian economies reliant on power imports face a a lot sharper surge in inflation, partly as a result of pure gasoline costs in these markets are extra risky than within the US and have already jumped — and the gasoline is essential of their home power markets, the FT’s Sam Fleming explains.
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