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www.newsindiatimes.com – that’s all you need to know Community News India Times (April 4, 2026 - April 10, 2026) April 10, 2026 9 From Indian Films To Italian Wine, Trump’s Iran War Ripples Through World Economy she said. “Growth could face headwinds through several transmission channels: softer consumption as house- hold purchasing power erodes; constrained government spending as possibly higher oil subsidies complicate fiscal deficit management; and weaker investment as elevated input costs compress corporate margins and profitability.” Some chief executives have warned of supply strains widening with time unless the bottlenecks are cleared. “Anybody that manufactures anything has to pay at- tention to this and any consumer in our economy has to pay attention to it,” John Pfeifer, president and CEO ofWisconsin-based defense contractor Oshkosh Corp., said at an investor conference on March 18. He noted that 25% of the world’s aluminum transits Hormuz. “That will be very disruptive to economies, ours and others, if it doesn’t get resolved in a relatively expeditious way.” For Francesco Scala, a third-generation winemaker in Calabria, a 60% jump in the price of diesel couldn’t come at a worse time. He’s sending out tractors to prepare the soil for the growing season, with intense farming taking place from April through mid-July, when the heat kills off mildew and other pests and his Gaglioppo and Greco Bianco grapes can mostly take care of themselves. “Every- thing will be more expensive,” Scala said. Even with diesel available to farmers tax-free from the government, he worries about the affordability of producing everything from wine to pasta. The fuel price pressures are hitting growers and winemakers at the same time as Trump’s tariffs. And because wine sales have been slowing not just in the US but around the world, Scala said he’s probably going to have to swallow the higher costs himself. “If we put one euro more on the price of the bottle, I’m sure that we will sell less wine,” he said. To underpin consumer spending in the US, the Trump administration has partly counted on enlarged tax re- funds to bolster economic growth in 2026. But if the war pushes oil to settle at $83 per barrel or above for much of the year, that would cancel out the average household’s gains from the refunds, according to AnnaWong, chief US economist at Bloomberg Economics. Higher gasoline prices are already cutting into the financial boost households typically get from tax refunds, according to Citigroup Inc. economist Gisela Young. She estimates that a 20% increase in fuel prices would force Americans to spend about $6 billion more on gas in a single month, based on typical spending levels. So far, total tax refunds are only running about $20 billion higher than last year, according to data from the Internal Revenue Service. If gas prices stay elevated for three to four months, it could quickly eat through that cushion and “basically it offsets a pretty good chunk of the higher tax refunds, if not all,” Young said. Joe Lavorgna, chief economist at SMBC Nikko Secu- rities America and a former US Treasury official, said increases in gas prices are effectively a tax hike because consumers have to pay that cost. “Another few weeks, we’re okay. We go a few months from now, we’re going to have some issues,” Lavorgna said on Bloomberg Television on March 18. “We have to watch the confidence in the consumer spending num- bers and see if the economy’s holding up.” Already stressing are US farmers, even though they re- ceived $12 billion in government aid during the first year of Trump’s second term. They’re gearing up for planting season and getting sticker shock from their projected fer- tilizer and fuel bills. Those financial strains portend crop shortages that could spread the pain to grocery checkout lines far from rural America. “Not only is this a threat to our food security – and by extension our national security – such a production shock could contribute to inflationary pressures across the US economy,” wrote Zippy Duvall, president of the American Farm Bureau Federation, in a letter to Trump this month. In Australia, RBA Governor Michele Bullock summed up the dilemma confronting monetary policy makers in her press conference on March 17 after raising interest rates for a second straight meeting. “If we don’t raise interest rates and we’re going to see second-round effects coming from petrol prices and fuel prices, they’ll get into supply chains,” Bullock told report- ers. “If inflation gets built into the fibres and then we will see the costs of everything going up and that will be a much worse outcome.” Bloomberg - Continued From Page 8 US - India Priya Jain Sworn In As Commissioner Of The New Jersey Department Of Transportation N ew Jersey Department of Trans- portation (NJDOT) officials announced March 30, 2026, that Priya Jain was sworn-in as New Jersey Department of Transporta- tion Commissioner, making her the 21st Chief Executive of the Department. The full New Jersey State Senate unanimously confirmed her nomination on March 23. Governor Sherrill nominated Com- missioner Jain on January 19, 2026, and she has served in an acting capacity since then. She will continue her work over- seeing the Department that manages the state’s multi-faceted transportation network. The Commissioner of NJDOT also serves as Chair of New Jersey Transit, the New Jersey Turnpike Authority, and the South Jersey Transportation Authority, noted the press release from NJDOT. “Commissioner Jain is committed to delivering an affordable, reliable, and modern transportation system through collaboration, practical problem solving, and disciplined delivery,” NJDOT said. “Her vision for a community-centered approach to transportation will meet the real needs of the public through the use of innovative technology and data-driven decision making.” According to NJDOT, since she came on in an acting capacity, Commissioner Jain has worked alongside engineers, mainte- nance crews, and operators, applying her expertise as a civil engineer, to learn the foundation of this Department. Jain has more than three decades of experience leading major and complex transportation and infrastructure pro- grams. She began her career as a civil and environmental engineer and has worked at the intersection of engineering, policy, and programmanagement to support public agencies in advancing complex capital projects. Most recently, she served as the Presi- dent of Americas for Mace Consult, where she led strategic growth and operational excellence across the U.S. and the globe. Prior to that, as Executive Vice President and Chief Growth Officer for Atlas, she is credited with driving enterprise-wide growth initiatives and helping position the firm for long-term success. As Senior Vice President for Sales and Strategy at Atkins, she spearheaded the firm’s expansion across North America and strengthened partnerships with public agencies. She also held senior leadership roles at CH2M, managing and delivering major transpor- tation and infrastructure programs. Jain’s connection to New Jersey’s transportation system began early in her career, as an engineer on the original ARC Tunnel project. “That experience shaped her understanding of the complexities of large, multi-agency projects and con- tinues to inform her focus on efficient permitting, interagency coordination, and timely project delivery,” the press release said. She is a member of the Board of Direc- tors of the American Association of State Highway and Transportation Officials (AASHTO), the Northeast Association of State Transportation Officials (NASTO), and The Eastern Transportation Coalition (TETC). In addition to her professional respon- sibilities, Commissioner Jain remains engaged in academic and industry service as an Advisory Board Member for Civil En- gineering at the City College of NewYork. She holds a bachelor’s degree in civil engineering and master’s degree in phys- ics from Birla Institute of Technology & Science, Pilani, as well as a master’s degree in environmental engineering from the University of NewYork at Buffalo. By a StaffWriter PHOTO:NJTRANSIT.COM Commissioner Priya Jain.