American businesses in manufacturing, transportation and retail are facing simultaneous pressure from tariffs, record fuel prices linked to the war with Iran, and the Federal Reserve's first interest rate increase in three years. Higher steel, aluminum and other raw-material costs are forcing companies to consider price increases, while more expensive borrowing raises the cost of financing inventories and equipment. Smaller businesses, which often rely on short-duration debt, feel rate increases quickly. Diesel prices reached an unprecedented national average of $6.27 a gallon after tanker traffic through the Strait of Hormuz was restricted and Ukrainian drone strikes on Russian refining infrastructure led Moscow to ban diesel exports, removing roughly 20% of diesel normally transported by sea, according to ING analysts. Auto suppliers have responded by suspending production, abandoning investment plans or seeking Chapter 15 bankruptcy protection (a US process for foreign insolvency cases). Larger technology and financial companies have more protection from higher rates because of their cash holdings and fixed long-term borrowing, while capital-intensive sectors such as manufacturing, trucking and commercial real estate face compressed margins and limited relief options.