US President Donald Trump is facing deepening pressure over rising costs stemming from a Strait of Hormuz stalemate.
US gas prices on Tuesday hit their highest level in four years, while a new Reuters poll showed Trump’s approval rating sank to the lowest point of his second term, driven by concerns over ballooning costs.
Washington is mulling an Iranian proposal to open the strait, but Trump is reportedly skeptical of the offer, given that it would postpone talks on Tehran’s nuclear program.
The US has been relatively spared from the most severe economic impacts from the conflict, which could give Trump some breathing room politically.
Experts say the US would only enter recession territory if oil were to hit $150 per barrel.
