Donald Trump has said the growing financial pressure inflicted on Americans by the war on Iran is 'not even a little bit' motivating him to make a peace deal with Tehran. With US inflation at a three-year high and fuel costs still climbing, the US president said on Tuesday he is not focused on the economic hardship sparked by the conflict.
'The only thing that matters when I’m talking about Iran is they can’t have a nuclear weapon,' Trump told reporters at the White House before boarding a plane to China. 'I don’t think about Americans’ financial situation. I don’t think about anybody. I think about one thing: We cannot let Iran have a nuclear weapon. That’s all.'
The remarks come ahead of a US midterm election campaign season expected to be defined by mounting concerns around affordability. Official figures revealed that US prices rose 3.8% in April, their fastest pace since 2023, driven largely by energy costs that have surged since the US and Israel first attacked Iran in late February. Gasoline now averages over $4.50 a gallon, the highest price in four years, while food prices are up nearly 4% and airlines have raised fares by more than 20%.
Trump’s top officials have struggled to explain when such pressures will fade. Energy Secretary Chris Wright said in March that fuel could return to prewar levels by summer, but later said he 'can’t make predictions'. Kevin Hassett, Trump’s top economic adviser, told Fox News that relief was coming 'relatively quickly' and claimed the president had assured him the 'war is close to being over'. However, Secretary of State Marco Rubio suggested Americans should count themselves fortunate compared to other countries suffering 'big time'.
On Tuesday, Trump predicted a resolution to the war would bring a 'massive drop in the price of oil' and noted that worst forecasts had not materialised. He insisted his economic policies were working 'incredibly' and that once the war ends, Americans would see the payoff. 'When this war is over, oil is going to drop, the stock market is going to go through the roof, and truly, I think we’re in the golden age right now,' he said.
