Donald Trump has stated that the growing financial strain on Americans due to the war on Iran is not motivating him to seek a peace deal. With US inflation at a three-year high and rising fuel costs, the president said he is focused solely on preventing Iran from obtaining a nuclear weapon.
Speaking at the White House before departing for China, Trump told reporters: “The only thing that matters when I’m talking about Iran [is] they can’t have a nuclear weapon. 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 as official figures show US prices rose 3.8% in April, the fastest pace since 2023, driven by energy costs that have surged since the US and Israel attacked Iran in late February. Gasoline now averages over $4.50 a gallon, the highest in four years, while food prices are up nearly 4% and airline fares have risen over 20%.
Trump’s top officials have offered conflicting predictions on when economic pressures might ease. Energy Secretary Chris Wright said in March that fuel could return to prewar levels by summer, but later said he “can’t make predictions”. Economic adviser Kevin Hassett claimed relief would come “relatively quickly and certainly ahead of the election”, while Secretary of State Marco Rubio suggested Americans should consider themselves fortunate compared to other countries.
The economic strain is global, with inflation accelerating in Australia, Canada, and South Korea, and British households warned of a fresh cost-of-living crisis. A University of Michigan survey found consumer confidence has fallen to levels last seen in 2022. Trump insisted his economic policies are working “incredibly” and predicted a “golden age” once the war ends, with a drop in oil prices and a stock market surge.
