Asia is being hammered by the Iran conflict’s economic fallout. The U.S. has the playbook to help—and every reason to

As countries around the world confront the economic fallout from the Iran conflict, Asian economies have been particularly hard hit. Energy prices have skyrocketed, economic growth forecasts have been slashed, food insecurity is back in the spotlight, and access to critical chemicals, aluminum and other products has been curtailed.

In response, Asia has been busy implementing a range of measures, from restricting energy use to introducing fuel subsidies, re-starting coal plants, and imposing export restrictions. While the crisis looms large over Asia, the U.S. trade agenda appears to move forward unabated. Adapting U.S. trade asks to reflect the pressures partners are facing — and offering financial support or other cooperation — would build meaningful goodwill in a region Washington cannot afford to lose.

With more than 80% of the oil and gas usually passing through the Strait of Hormuz bound for Asia, the region’s energy vulnerability is stark. Energy prices in Asia have risen by almost 70% in some places since the start of the war, forcing countries like Cambodia and Vietnam to ration energy and introduce fuel subsidies. Pakistan and Bangladesh have closed schools, and, across Southeast Asia, officials are working from home and curtailing travel.  For tourism-dependent economies like Thailand........

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