Iran War: Europe Signals Little Interest in Aiding US with Hormuz | The Opening Trade 3/17/2026
Original Report
The European Union’s foreign policy chief Kaja Kallas said EU foreign ministers on Monday showed “no appetite” to extend the bloc’s maritime security mission to the Strait of Hormuz from the Red Sea....
The European Union’s foreign policy chief Kaja Kallas said EU foreign ministers on Monday showed “no appetite” to extend the bloc’s maritime security mission to the Strait of Hormuz from the Red Sea. The US-Israeli war against Iran continues to reverberate across markets, with traders closely watching shipping through the Strait of Hormuz and rising oil prices fueling inflation concerns. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Tom Mackenzie and Lizzy Burden. (Source: Bloomberg)
Glass House Analysis
International economic policy has concrete impacts far beyond diplomatic circles. Tariffs show up in the price of goods at stores, supply chain disruptions affect whether products are on shelves, and trade tensions can mean job losses in export-dependent industries. The globalized economy means that decisions made abroad can affect workers and consumers domestically.
Inflation is the silent tax that erodes purchasing power, hitting hardest those who can least afford it. When grocery bills rise faster than wages, families face impossible choices between food, medicine, and rent. Unlike market volatility that mainly affects investors, inflation touches everyone who buys groceries, fills a gas tank, or pays rent.
Energy prices affect virtually every aspect of daily life—from commuting costs to heating bills to the price of groceries (which must be transported). For working families, energy represents one of the most volatile and impactful line items in their budgets. Energy policy decisions ripple through the economy, affecting everything from manufacturing competitiveness to household financial stress.
The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.
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