Regional businesses say Iran war, Trump tariffs are increasing prices, hurting the economy

By: Marty Schladen

Outlets: Ohio Capital Journal

Published: April 29, 2026

Words: 637

Last Updated: 2 months, 2 weeks ago

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President Donald Trump’s undeclared war with Iran and his sweeping tariffs are increasing costs and dampening the economic outlook, some business and community leaders have told the Federal Reserve Bank of Cleveland.

The war will enter its third month on Friday without a clear rationale or goal. A fragile cease-fire is in place, but Iran continues to restrict access to the Strait of Hormuz — a chokepoint for global energy, fertilizer and …

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