Trump: Preventing Iran’s Nuclear Weapon Outweighs Inflation

President Donald Trump told reporters before boarding for a trip to Beijing that preventing Iran from obtaining a nuclear weapon is his sole focus and that he is not factoring Americans’ financial strain into that decision.

The Consumer Price Index for April rose 3.8% year over year. Core CPI, which excludes food and energy, increased 2.8% year over year. The energy index climbed 3.8% and accounted for more than 40% of the headline gain.

Gasoline prices rose 28.4% over the past year, and households have spent an estimated $37.6 billion more on fuel since February. The food index increased 3.2% year over year, and higher fertilizer costs were cited as a risk for further upward pressure on grocery prices.

Asked whether voter economic pain had influenced his willingness to make a deal on Iran, Trump replied, “Not even a little bit.” He also told reporters, “I don’t think about Americans’ financial situation. I don’t think about anybody. I think about one thing: we cannot let Iran have a nuclear weapon. That’s all.”

When pressed on why inflation reached a three-year high despite his pledge to lower prices, he pointed to inflation at 1.7% in the months immediately before “the war” and framed the choice as preventing Iran from developing a bomb. “If you want to do that, then you’re a stupid person,” he said.

Trump predicted that an end to the conflict would lower oil prices and lift markets, saying lower energy costs would send the stock market, which he noted was at record highs, “through the roof.”

U.S. officials have cited disruptions in the Strait of Hormuz as a factor pushing energy and transport costs higher. The partial closure of that shipping route has affected global supply chains and contributed to higher transportation and food costs, along with gasoline.

The remarks came ahead of his meeting with Chinese President Xi Jinping in Beijing, where the agenda is expected to include trade, security and strategic competition. Administration officials have described national security concerns as the guiding factor in diplomatic and military decisions on Iran.