Defense Secretary Pete Hegseth revealed the U.S.-Iran war's cost at $37.5 billion, while experts suggest the total financial burden could significantly exceed this estimate.

Follow the latest news on the major headlines of the day.

The war with Iran has cost $37.5 billion so far, according to US Defense Secretary Pete Hegseth, but the bill is likely much higher, experts have told CNN.

The Trump administration is pursuing what would amount to a $1.5 trillion defense budget for fiscal 2027.

Latest estimate before that, in May, was $7.5bn lower

At a Senate budget hearing on Tuesday, US Defense Secretary Pete Hegseth estimated that the war with Iran had so far cost $37.5 billion.