Trump defends Iran deal at G7, says deal helped avert ‘economic disaster’ from prolonged war | Today’s news
US President Donald Trump on Wednesday (Jun 17) defended his administration’s interim deal with Iran, saying an end to the conflict was necessary to avoid a global economic shock caused by the protracted war in the Middle East.
Speaking at the end of the G7 summit in Évian-les-Bains, France, Trump said the risk of escalating economic damage weighed heavily on his decision to make the deal.
“So the one thing I didn’t want to see is I didn’t want to see an economic disaster. If you keep doing this, that could happen.”
The comments came as global markets continue to assess the impact of months of conflict that have led to rising energy prices, heightened inflation fears and disruptions to key shipping routes.
Trump invokes warnings of a major depression
Trump explained his concerns and compared them to former US President Herbert Hoover, who was in office when the stock market crash of 1929 triggered the Great Depression.
“I didn’t want to be like Herbert Hoover,” Trump said, warning that prolonged conflict could have serious economic consequences.
The war, which began with attacks by the US and Israel on Iran in February and later spread into a wider regional conflict, has raised fears of major disruptions to global energy supplies and food markets.
The agreement is expected to be signed soon
Trump said the deal reached Sunday with Iran should be formally signed within days, though he stopped short of providing a definitive timetable.
“The deal we made with Iran on Sunday will be signed soon, tomorrow, maybe the day after tomorrow.”
He added: “We will most likely sign an agreement.”
Trump also reiterated that Tehran appears willing to make progress.
“Iran wants to sign the deal.”
But he conceded earlier in the day that the deal was not yet final and warned that Washington could reverse course if it was not satisfied with Iran’s actions.
US to discuss missiles and proxies with Gulf nations
Trump said Washington would simultaneously continue talks with Gulf allies on Iran’s ballistic missile program and its network of regional proxy groups.
“We will discuss Iran’s ballistic missiles and terrorist proxies with the Gulf states.”
The comments suggest that security concerns beyond the nuclear issue will remain part of broader regional diplomacy.
Trump comments on Netanyahu, Lebanon and Syria
During the press conference, Trump also addressed Israeli Prime Minister Benjamin Netanyahu.
“Netanyahu is a good man who sometimes gets a little excited.”
Trump further revealed that the Lebanese leadership is expected to hold talks with Washington in the coming weeks and said the Syrian leadership is interested in targeting Hezbollah positions with greater precision in Lebanon.
These remarks highlighted the broader regional dimensions of the postwar diplomatic effort.
Reopening of the Strait of Hormuz on Wednesday as agreed
According to US and regional officials, the interim agreement requires Iran to immediately facilitate the reopening of the Strait of Hormuz, one of the world’s most important energy transit routes.
The waterway handles a significant share of global oil and gas supplies and has been at the center of energy security concerns during the conflict.
The deal would also allow Iran to resume unrestricted oil exports while broader negotiations on a final settlement continue.
The biggest challenge remains the nuclear program
While the interim agreement aims to end hostilities and stabilize regional trade, the most contentious issue – Iran’s nuclear program – remains unresolved.
The agreement is expected to begin a 60-day negotiation period aimed at reaching a broader settlement.
Preventing Iran from obtaining a nuclear weapon has been a major goal of Trump’s Iran policy and was one of the reasons the administration cited for entering the conflict earlier this year.
However, Iran has consistently maintained that its nuclear program is peaceful.
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