Trump, Iran have one month to reopen the Strait of Hormuz or risk major economic slowdown, OECD warns
The OECD has warned that President Trump and Iran must reopen the Strait of Hormuz within a month to prevent a significant global economic slowdown. If the strait remains closed, global economic growth could drop to 1.8% next year, with severe impacts on nations reliant on oil from the Persian Gulf. The situation remains tense as negotiations continue amid ongoing conflict in the region.
- ▪The OECD predicts that global economic growth could shrink to 1.8% next year if the Strait of Hormuz remains closed.
- ▪The prolonged closure threatens to cause high inflation and rising unemployment worldwide.
- ▪If the strait reopens, the global economy could rebound and grow by 3.1% in 2027.
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World News OECD warns Trump, Iran have a month to reopen Strait of Hormuz – or risk major economic slowdown By Ronny Reyes Published June 3, 2026, 3:08 p.m. ET See more of our coverage in your search results. Add The New York Post on Google President Trump and Iran have one month to reopen the Strait of Hormuz and get oil flowing again if they want to avoid a worldwide economic slowdown for the next two years, according to projections released Wednesday by the Organization for Economic Cooperation and Development (OECD).
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