What Business Leaders Are Saying About the Red Sea Attacks

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Recent attacks on commercial ships in the Red Sea by the Iranian-backed Houthi militia have forced companies to pay higher insurance rates or reroute goods around Africa, adding costs and delays that could put a dent in companies’ profit margins and, ultimately, push up prices for consumers.

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Secretary of Defense Lloyd J. Austin III and Vietnam Minister of National Defense Phan Van Giang stand for the playing of the U.S. and Vietnam national anthems during a bilateral exchange at the Pentagon, Washington, D.C., Sept. 9, 2024. (DoD photo by U.S. Navy Petty Officer 1st Class Alexander Kubitza)

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