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Cliff Kupchan appears on a studio monitor for a remote interview as host Geoff Bennett listens from the PBS News Hour set.

Geoff Bennett interviews analyst Cliff Kupchan of the Eurasia Group about how a prolonged war with Iran is affecting the global economy. Photo: PBS NewsHour

Prolonged Iran War Impacts Global Economy

September 4, 2026

Prolonged Iran War Impacts Global Economy

A prolonged war with Iran is rippling through the global economy, from oil prices to tariffs. Geoff Bennett talks with analyst Cliff Kupchan about the stakes, and students weigh what the U.S. could do next.

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To discuss the latest flare-up in the war with Iran and the impact on the global economy, Geoff Bennett spoke with Cliff Kupchan. He's chairman emeritus at the consulting company Eurasia Group and senior fellow at the think tank Center for the National Interest.

View the transcript of the story.

NOTE: If you are short on time, watch the video and complete this See, Think, Wonder activity: What did you notice? What did the story make you think about? What would you want to learn more about?

Remote video URL

Warm-Up Questions

  1. What are some of the ways the war with Iran is impacting the global economy, according to Cliff Kupchan?
  2. Why has the impact on oil prices been less severe than some economists predicted?
  3. How have China and the U.S. attempted to keep oil prices down?
  4. Where would additional imposed tariffs and other sanctions affect the U.S. economy?
  5. When will the U.S. provide economic relief to Russia, according to Kupchan?

Essential Questions

  • What actions do you think the U.S. government could take to ease the impact of tariffs and war on the U.S. economy?
  • What do you think are the most significant non-economic impacts of the war in Iran?
  • Media literacy: Why do you think the following infographic was included with this segment?

Text graphic explaining the G20 was created after the 1997–1998 Asian financial crisis to convene finance ministers and central bank leaders.

What Students Can Do

The current U.S. conflict with Iran is a direct result of a long troubled relationship between the two countries. As a class, read this explainer. Then discuss:

  • Knowing a little about the history of the relationship between the U.S. and Iran, what do you think it would take to more permanently settle hostilities?
  • What role do you think other countries besides the U.S. or Iran could serve in pushing for a peaceful outcome?
President Harry S. Truman greets Prime Minister Mohammad Mosaddegh of Iran as the latter arrives at Blair House, temporary Presidential residence in Washington D.C., Oct. 23, 1951.
President Harry S. Truman greets Prime Minister Mohammad Mosaddegh of Iran as the latter arrives at Blair House, temporary Presidential residence in Washington D.C., Oct. 23, 1951.

Lesson Plans on Global Politics

Find more resources on global politics and how they relate to your students with our free collection of preK-12 lesson plans and teaching resources.

Republished with permission from PBS News Hour Classroom.

PBS News Hour Classroom
PBS News Hour Classroom helps teachers and students identify the who, what, where and why-it-matters of the major national and international news stories. The site combines the best of News Hour's reliable, trustworthy news program with lesson plans developed specifically for... See More
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