US President Donald Trump said on Tuesday (local time) that he is not weighing the economic burden of the war in Iran on ordinary Americans as he negotiates a deal with Tehran’s leadership.
In a speech on the South Lawn of the White House before leaving for a diplomatic trip to China, Trump was asked to what extent the “financial situation of the American people” was motivating him to strike a deal with the Islamic Republic. He replied, “Not a bit,” adding, “The only thing that matters when I talk about Iran — they can’t have a nuclear weapon. I’m not thinking about the financial situation of the American people. I’m not thinking about anybody. I’m thinking about one thing — we can’t allow Iran to have a nuclear weapon. That’s it,” NBC News reported.
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When asked again if he was really thinking about the economic effects of war, the US president reiterated, saying, “By far the most important thing — including whether our stock market, which is at an all-time high by the way — but including whether our stock market goes up or down a little bit, by far the most important thing is that Iran can’t have a nuclear weapon,” adding that this is something every American understands.
Hegseth faces grilling over Iran war
The US president’s comments came on the same day Defense Secretary Pete Hegseth faced tough questions from lawmakers about the Trump administration’s bottom line on the Iran war, the conflict’s growing $29 billion cost and its impact on America’s dwindling weapons stockpile.
Hegseth, Chairman of the Joint Chiefs Dan Caine and Pentagon finance chief Jules Hurst III were asked about the cost of war during testimony about the administration’s 2027 defense request of $1.5 trillion.
Democrats and other critics of the war have disputed the Pentagon’s calculations, suggesting the true cost, including damage caused by Iran, could be much higher, AFP reported. While Hegseth declined to provide a damage estimate, he reiterated, consistent with his past remarks since the beginning of the conflict, that the consequences of Iran acquiring a nuclear weapon would be far more severe.
Sen. Patty Murray, D-Washington, asked Hegseth about a cost breakdown of the war, saying, “You’re spending families’ hard-earned tax dollars on a war that many are strongly opposed to, forcing people to pay more at the pump,” adding, “And yet you don’t even provide a true breakdown of the costs of this war.”
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Hegseth responded by saying, “What is the cost to Iran of getting a nuclear weapon? And the fact that this president was willing to make a historic and bold choice to face that is worth it — and we recognize that.”
Hegseth and Caine underwent a second round of questioning before a Senate committee following their testimony in the House, with anti-war protesters present at both sessions.
Impact of the US-Iran War on America
Since late February, the US and Israel launched a joint strike against Iran, the Islamic Republic has blocked access to the Strait of Hormuz, a key waterway through which roughly a fifth of the world’s oil supplies typically pass each day.
With the Strait of Hormuz closed for several months, gas prices also rose in Washington. The national average price of regular unleaded gas was $4.50 a gallon Tuesday, while diesel was $5.64 a gallon, according to the AAA tracker.
In addition, rising fuel prices have rippled across the nation’s economy, with inflation rising to 3.8 percent in April, the highest level in nearly three years, according to data released Tuesday by the Bureau of Labor Statistics.
While U.S. employment data beat expectations in April and U.S. stock indexes hit record highs during the war, Americans generally expressed dissatisfaction with the economy under Trump. A CNN/SSRS poll conducted between April 30 and May 4 found that roughly 70 percent of Americans disapprove of Trump’s handling of the U.S. economy, the highest number the pollster has recorded during Trump’s two terms in office.
Key things
- Trump prioritizes national security over economic interests in negotiations with Iran.
- Rising fuel prices and inflation were significant problems for American households.
- Public disapproval of Trump’s economic management is at an all-time high.
