Trump said he’s not factoring Americans’ financial struggles into Iran negotiations, even as CPI and gas prices reflect mounting costs.
Donald Trump landed on a blunt line about the people most affected by the tightening economy: when asked how much Americans’ financial strain influences his approach to Iran, he said it does not.
Speaking May 12, Trump was pressed by a reporter on whether Americans’ struggles were motivating him to reach a deal. His answer was categorical: “Not even a little bit,” adding that he does not think about Americans’ financial situations as he weighs negotiations.
In that same exchange, Trump framed the decision around a single priority—preventing Iran from obtaining a nuclear weapon. He told the reporter he does not consider the broader impacts of the situation, saying his focus is confined to the goal that Iran can’t have a nuclear weapon.
When another follow-up asked whether he truly is not factoring in the economic impact of the war, Trump doubled down again. He argued that the most important point—“by far”—is the nuclear issue, even mentioning market performance in the context of whether it rises or falls.
Trump’s remarks landed as new economic data painted a more complicated picture for households.. The Consumer Price Index report released May 12 showed prices rising 0.6 percent in April after a 0.9 percent gain in March.. On a yearly basis, prices climbed 3.8 percent, the biggest increase since May 2023.
Energy costs were central to the inflation picture. Gasoline rose 5.4 percent, with the Bureau of Labor Statistics attributing more than forty percent of the monthly overall price increase for “all items” to higher energy prices. For drivers, the impact has been especially visible.
AAA reported that the national average price for regular unleaded gas reached $4.50 per gallon, while diesel rose to $5.64.. The contrast was stark: a year earlier, regular gas averaged $3.13.. Those figures have become a focal point for conversations about how the Iran standoff is being felt at the pump.
Grocery prices also increased, climbing 0.7 percent. While smartphones were exempt from Trump’s tariffs, other tariff-exposed categories saw higher costs, including clothing, which rose 0.6 percent, along with increases noted for electronics, bedroom furniture, and toys.
The administration has faced a growing argument that policy decisions and regional conflict are converging to strain consumer budgets.. Since the U.S.. and Israel launched joint strikes on Iran in late February. Iran has restricted access through the Strait of Hormuz. a key shipping lane that normally carries about 20 percent of the world’s daily oil supply.
That disruption has helped push gas prices higher, as long-haul energy supply becomes less predictable. The report noted that Iran sought to separate nuclear talks from efforts related to reopening the Strait of Hormuz oil lane, keeping the negotiations segmented even as access remained constrained.
Shipping activity through the Strait has reportedly stayed severely limited. For the week ending May 12, shipping data showed only three crude tankers exited the waterway, and trackers were switched off to avoid Iranian attacks.
Oil markets have responded to the uncertainty. A Reuters survey reported that OPEC oil production fell again in April to its lowest level in more than two decades, while Brent crude futures climbed above $107 per barrel, reflecting how the standoff has kept the Strait largely closed.
The White House signaled that it expects the effects on prices to ease. In a statement to Al Jazeera, White House spokesperson Kush Desai said the increase in prices “will likely be temporary,” pointing to what the spokesperson called temporary disruptions associated with Operation Epic Fury.
Trump also said he would suspend the federal gasoline tax until it is “appropriate” to help reduce fuel prices. He has repeatedly argued that prices will fall after reaching a deal with Iran, positioning an agreement as the mechanism for relief.
As questions persisted about whether his approach has delivered on campaign promises to lower prices, Trump became visibly frustrated. He said his administration’s efforts were “working incredibly,” claiming inflation had cooled to roughly 1.7 percent before the war with Iran began.
Public reaction to the economic fallout appears increasingly negative in recent polling. A CNN/SSRS poll found 77 percent of respondents believe Trump’s policies have increased the cost of living, with many pointing to the Iran war and tariffs as key drivers.
More broadly, Americans have expressed dissatisfaction with how the situation is being handled.. Another CNN/SSRS survey. conducted between April 30 and May 4. found 70 percent of Americans disapproved of Trump’s handling of the economy. while an NBC News Decision Desk poll reported that two-thirds disapproved of his handling of inflation and the Iran conflict.
Further survey findings suggested concerns about how clearly the public understands the rationale behind the war.. According to a Reuters/Ipsos poll. two out of three Americans—including one in three Republicans and nearly all Democrats—said Trump has not clearly explained why the United States entered the war.
Taken together. Trump’s comments about not considering financial strain stand in stark contrast to the economic indicators and public sentiment described in the same reporting. where inflation pressures and fuel prices have remained prominent while the Iran standoff continues to affect energy access.
Donald Trump Iran negotiations consumer price index gasoline prices Strait of Hormuz OPEC production inflation poll