Trump doesn't care about Americans' wallets

Donald Trump said the increasing financial pressure the war against Iran is putting on Americans is not affecting his motivation to reach a peace deal with Tehran "in the slightest."

At a time when inflation in the US is at its highest level in three years and fuel prices continue to rise after a sharp jump in oil prices, the US president said on Tuesday that he was not focused on the economic hardship caused by the conflict, the Guardian reported.

“The only thing that matters when I talk about Iran is that they must not have nuclear weapons,” Trump told reporters at the White House before boarding a plane to China. “I don’t think about the financial situation of Americans. I don’t think about anybody. I only think about one thing: We must not allow Iran to have nuclear weapons. That’s all.”

The statements come ahead of the US midterm election campaign season, which is expected to be marked by growing concerns about the cost of living.

Trump also spoke just hours after official data showed that US prices rose 3,8 percent in April, the fastest pace since 2023, largely due to energy costs, which have soared since the US and Israel first attacked Iran in late February.

According to AAA, the average price of gasoline is now more than $4,50 per gallon, the highest level in four years. Food prices have also risen nearly four percent, electricity and utility bills are higher, and airlines have raised fares by more than 20 percent.

Trump’s top officials have struggled for months to explain when, or if, such pressures will ease. Chris Wright, the U.S. Energy Secretary, said in March that gas prices could return to pre-war levels by the summer, but on Sunday he said he “cannot make predictions.” He told CNN in April that prices falling below $3 a gallon “may not happen until next year.”

Trump himself, recently asked about his forecast, said that prices could be lower by November, "or the same, or maybe a little higher."

Kevin Hassett, Trump's top economic adviser, told Fox News on Sunday that relief would come "relatively quickly and certainly before the election." He also claimed that the president had personally assured him that "the war is nearing an end."

Secretary of State Marco Rubio took a different approach last week, suggesting that Americans should be happy because other countries are suffering "in a big way."

A University of Michigan survey in April showed that consumer confidence had fallen to levels last seen in 2022, when inflation, due to disruptions caused by Covid-19, reached its highest level in a generation.

Trump's recent public appearances have included boastful claims about the stock market, dismissive remarks about inflation and, at least once, an update on the escalating cost of a new White House ballroom. He said Tuesday that his economic policies are working "incredible" and that Americans will see the benefits once the war is over.

“When this war is over, oil will be cheap, the stock market will explode, and, really, I think we are in a golden age now,” Trump said. “You will see a golden age like we have never seen before.”