Research

June 10, 2026

The Iran war has significantly strained U.S. munitions stockpiles, with replenishment expected to take several years.

A high-end conflict over Taiwan could exhaust U.S. weapons inventories much faster than a renewal of the Iran conflict.

Despite these shortages, the Iran war is unlikely to meaningfully undermine deterrence of a Chinese attack on Taiwan. Xi Jinping and Chinese leaders will need to weigh broader factors before any decision to seize Taiwan by force.