President Donald Trump said rising inflation and fuel costs tied to the Iran conflict will not change his administration’s focus on preventing Tehran from obtaining a nuclear weapon as he departed for meetings with Chinese President Xi Jinping.
By yourNEWS Media Newsroom
President Donald Trump said Tuesday that economic pressures stemming from the Iran conflict will not shift his administration’s primary objective of preventing Tehran from developing nuclear weapons capability.
Speaking to reporters at the White House before departing for China, Trump rejected suggestions that rising fuel prices, inflation, and broader economic strain were driving Washington’s efforts to negotiate an end to the conflict, according to reporting from the Washington Examiner.
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Trump said Americans’ “financial situation” was not shaping his position on negotiations with Iran and emphasized that blocking Tehran’s nuclear ambitions remained the administration’s overriding national security priority.
The remarks came as economic disruptions tied to instability around the Strait of Hormuz continue affecting global energy, shipping, and agricultural markets.
Trump has repeatedly stated in recent weeks that the United States will not accept Iranian demands he views as incompatible with preventing nuclear weapons development. Earlier reports from KSAT said Trump described Iran’s latest negotiation proposals as “not satisfied” and later characterized a subsequent response as “totally unacceptable.”
At the same time, the administration has expanded financial pressure on Tehran while continuing diplomatic contacts through intermediaries.
Treasury Secretary Scott Bessent said last month the United States was coordinating with Gulf nations to increase scrutiny of Iranian financial networks in an effort to pressure the regime into concessions.
The ongoing conflict and disruptions surrounding the Strait of Hormuz have increasingly affected household costs across the United States.
Nearly 20% of the global oil supply and approximately one-third of seaborne fertilizer shipments transit through the narrow waterway, making the region central to international energy and agricultural supply chains.
Energy analysts cited in multiple market reports said shipping delays, rerouted oil tankers, and military tensions in the Gulf have contributed to higher prices for gasoline, diesel fuel, fertilizer, and shipping services.
The Washington Post reported Tuesday that Labor Department data showed inflation rose to 3.8% in April, the highest level recorded in nearly three years. According to the report, gasoline prices increased 5.4% during the month and were nearly 30% higher than one year earlier.
The report also stated that real wages declined 0.5% in April despite nominal wage growth as rising energy costs consumed much of workers’ increased pay.
According to data from the American Automobile Association cited in regional media reports, average gasoline prices in several states climbed above $4 per gallon in recent weeks compared with approximately $2.80 per gallon before tensions around the Strait of Hormuz escalated earlier this year.
Diesel prices in some regions reportedly exceeded $5 per gallon, increasing transportation and agricultural operating expenses.
The higher prices have significantly increased fuel costs for American drivers. Filling a standard 15-gallon fuel tank at $4 per gallon costs approximately $60 compared with about $42 when gasoline averaged $2.80 earlier this year.
Farm groups and agricultural analysts have also warned that rising fertilizer prices may contribute to broader food inflation later this year.
Analysts associated with the University of Illinois farm policy program said urea fertilizer prices increased more than 28% following the Hormuz disruptions, while growers in Midwestern states reported fertilizer costs climbing between 30% and 40% compared with the prior year.
Agricultural producers interviewed by PBS said higher fuel and fertilizer expenses were already affecting planting-season budgets and would likely increase grocery prices as those costs move through the supply chain.
Despite the growing economic strain, Trump has continued framing the Iran conflict primarily as a national security issue centered on nuclear containment.
Reuters reported Tuesday that Trump said ahead of meetings with Chinese President Xi Jinping that the United States did not require Beijing’s assistance to resolve the conflict and remained prepared to manage the situation “peacefully or otherwise.”
Trump departed Washington Tuesday afternoon for Beijing, where he is scheduled to meet with Xi during a May 13–15 summit focused heavily on trade, security, and geopolitical tensions.
The trip marks the first presidential visit to China since Trump’s 2017 state visit during his first term.
“We’re gonna have a great meeting,” Trump told reporters before departure.
He also said he and Xi would have “a long talk” regarding the Iran conflict.
In a separate interview Tuesday on WABC Radio’s “Sid & Friends in the Morning,” Trump expressed confidence heading into the summit.
“I think it’s going to be good,” Trump said. “China is strong, but we’re stronger than China. We’re stronger than any other country militarily.”
Trump’s itinerary includes bilateral meetings with Xi, a formal welcome ceremony, a tour of the Temple of Heaven, a state banquet, and additional working sessions before his departure from China on May 15.
The administration is expected to urge China to support efforts to reopen the Strait of Hormuz, though Beijing has so far resisted U.S. requests related to the issue.
Washington recently imposed sanctions on Hengli, identified as China’s largest independent oil refinery, and sanctioned three Chinese companies accused of supplying satellite imagery to Iran during the conflict.
Taiwan is also expected to remain a major point of discussion during the summit.
Trump acknowledged Xi would likely raise concerns about U.S. arms sales to Taiwan during their meetings.
“I‘ll have that discussion,” Trump said on May 11 when asked about Taiwan. “That’s one of the many things I’ll be talking about.”
“He will bring up Taiwan, I think, more than I will,” Trump added.
Human rights issues are also expected to be discussed during the summit.
Trump said he plans to raise the cases of imprisoned Hong Kong media entrepreneur Jimmy Lai and Chinese pastor Ezra Jin Mingri during discussions with Xi.
Lai has remained imprisoned in Hong Kong for more than five years after becoming one of the most prominent pro-democracy figures charged under Beijing’s national security law imposed following the 2020 Hong Kong protests.
Chinese authorities arrested Jin in 2025 in connection with his Christian activities and leadership role at Zion Church.
Trump is also bringing a delegation of major American business executives to Beijing representing sectors including aerospace, finance, agriculture, and technology.
Executives expected to join the delegation include Elon Musk, Tim Cook, Boeing CEO Kelly Ortberg, BlackRock CEO Larry Fink, Blackstone CEO Stephen Schwarzman, Cargill CEO Brian Sikes, and Citi CEO Jane Fraser.
A senior administration official said the United States is seeking purchase commitments from Beijing worth tens of billions of dollars during the trip.
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