Red Sea Attacks: Threats to Global Supply Chain and US Response

Houthi attacks on ships in the Red Sea have disrupted global trade, leading major shipping lines and oil transporters to suspend their services. This has resulted in increased freight costs and potential delays in container and commodity deliveries. The United States is expected to announce its strategy in response to the attacks. Insurers are widening their high-risk zone, potentially leading to higher costs for shippers and consumers. The route shifts also pose a threat to Egypt's struggling economy, which relies on the Suez Canal.