Amid war, Trump says he doesn’t ‘think about Americans’ financial situation’ as inflation spikes to 3.8%

Donald Trump said he does not consider the economic impacts of the Iran war on Americans. Photo / Getty Images

US President Donald Trump has said he does not consider the economic impacts the war in Iran is having on Americans, remarks that quickly drew criticism from Democrats and appeared to undermine his campaign pledge of addressing voters’ cost of living concerns.

“Not even a little bit‚” Trump said when asked to what extent “Americans’ financial situations” are motivating him to reach a deal to end the war. Trump spoke to reporters on the White House South Lawn before departing for his trip to China.

“The only thing that matters when I’m talking about Iran – they can’t have a nuclear weapon. I don’t think about Americans’ financial situation. I don’t think about anybody,” Trump said. “I think about one thing: We cannot let Iran have a nuclear weapon.”

The President doubled down on the sentiment when asked to clarify whether the economic impact on Americans was a factor in his decision-making. The US inflation rate has risen to its highest rate in nearly three years since the start of the Iran war in late February, with increased prices largely driven by higher energy costs. Gas prices rose 5.4% last month and were up about 30% over the past year. Still, the US stock market has continued to hit a series of records.

“Every American understands,” Trump said of economic issues related to the war, referencing an unnamed poll he said showed an overwhelming majority of people “understand that Iran cannot have a nuclear weapon”.

“Now if the stock market goes up or down a little bit, the American people understand,” Trump continued. “When this war is over, oil is going to drop, the stock market is going to go through the roof, and truly, I think we’re in the golden age right now. You’re going to see a golden age like we’ve ever seen before.”

Trump’s approval on economic issues, which were critical to his political comeback in 2024, has fallen since he launched the Iran war.

A recent Washington Post-ABC News-Ipsos poll found that his approval rating on the economy has declined by seven points, to 34%, as gas prices have risen. Trump’s approval on inflation has fallen five points in that time to 27%, and his lowest rating comes on perceptions of his handling of the general cost of living, with 23% of Americans approving vs 76% disapproving.

The poll also found that Americans disapprove of his handling of the situation with Iran by 66% to 33%.

Democratic officials and campaign strategists were quick to jump on Trump’s comments, with some openly musing about using them in campaign ads against Republicans during the midterms.

Pennsylvania Governor Josh Shapiro, a Democrat, shared the clip, writing on social media that “Gas is over $4.60/gallon in Pennsylvania today” and Trump “literally doesn’t give a damn”.

At another point while talking to reporters, Trump defended his economic policies, saying “If you go back to just before the war,” inflation had fallen under his watch.

Trump, who has expressed an interest in pausing the federal gas tax – which would require congressional approval – said this week that he would support governors doing so in their states. “I think that’s a great idea,” Trump said.

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