NEW YORK — Trump officials say Iran is miscalculating if it believes rising prices and the midterm elections will weaken President Donald Trump's hand in negotiations to end the nearly seven-month conflict. The administration is projecting confidence that mounting economic pressure will push Tehran toward a deal, even after three hours of talks this week ended without an announced breakthrough. "The president holds all of the cards here," State Department principal deputy spokesperson Tommy Pigott told Fox News Digital in an on-camera interview on the sidelines of the U.N.
Americans, meanwhile, are facing a mounting cost at home. The national average for regular gasoline reached $4.49 per gallon Friday, according to AAA, up from $3.16 a year ago. AAA said volatility in the Strait of Hormuz and high crude oil prices have driven the national average to its highest level ever recorded for this time of year.
Secretary of State Marco Rubio acknowledged those costs Wednesday while arguing that allowing Iran to eventually obtain a nuclear weapon would carry a far greater price. THE TOP MOMENTS FROM IRAN PRESIDENT’S TENSE VISIT TO US SOIL AS WAR RAGES "It comes at a price and at a cost, there's no doubt about it," Rubio told reporters. "But the cost of not doing something about it is substantially higher, especially for future generations." Trump himself laid out the stakes in stark terms during his address to the U.N.
General Assembly Tuesday, presenting Tehran with a choice between reaching a deal that would allow Iran to rebuild or facing potentially devastating further U.S. action. "Or do I annihilate the Islamic Republic and do it quickly, never giving them a chance to kill and destroy people and countries again?" Trump said. "Do I drive them into hell with no chance of survival and no hope of future greatness or generations?" But Trump predicted Tehran would ultimately choose a deal, arguing that Iranian leaders are waiting to see whether the November midterm elections weaken his position.
"They're waiting to see how I do in the midterm election," Trump said. "What they don't realize is that I'm not running." "I gave absolutely no credence and will not give credence to the election when it comes to Iran," Trump added. "It doesn't even enter my mind." A U.S. official told Fox News Digital Friday that discussions through mediators remained "positive and constructive," but said the administration was in no hurry to reach an agreement.
"The United States is in a very strong position with control of the Strait of Hormuz, so we are not in a rush," the official said, adding that nearly 40 million barrels of oil had transited the strait over the previous 48 hours. The official predicted oil and gas prices would fall back to pre-conflict levels as the U.S. continues to maintain control of the strait. Trump said U.S. officials held a "very good" three-hour meeting with Iranian officials Tuesday as part of a renewed diplomatic push to end the conflict.
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