Strait of Hormuz Disruption: A Canary in the Coal Mine for Global Trade The warning from Treasury sources that a prolonged conflict in the Strait of Hormuz could strangle UK economic growth highlights the fragility of global trade.
According to internal modelling presented to Prime Minister Burnham and Chancellor Healey, GDP growth could plummet to 0. 3% next year if disruption persists until the end of 2026.
The effects of rising tensions in the Middle East are already being felt in oil and fuel prices, as well as supply chain disruptions.