India...all have significant oil import from that strait. At least China can increase more import from Russia. But Japan, South Korea, india, Taiwan... have no other ways to get oil and LNG. Trump's effort to rebalance global trade will be out of the question if Iran blocks the strait.
Bush's Iraq war distracted him from other agendas, wasted 8 years. Obama's Arab Spring, leading rising of ISIS, is another 6-year waste of foreign policy. By contrast, China achieved amazing economic growth during these 15 years. I will say it again, Trump's continuing war with Iran will definitely derail MAGA agenda.
Link: https://www.japantimes.co.jp/business/2025/06/20/economy/middle-east-jp-economy/#:~:text=According%20to%20the%20Petroleum%20Association,with%20Iran%20on%20one%20shore.