US President Donald Trump defended the Iran deal that offers several concessions to Tehran, saying Wednesday he wanted to avoid an “economic catastrophe.”
It was an admission that the markets forced his hand, with the war driving up inflation and energy costs. Terms in the US draft include reopening the Strait of Hormuz in exchange for the unfreezing of billions in Iranian assets, the creation of a $300 billion reconstruction fund, and Iran agreeing to dilute its enriched uranium.
It’s a “massive gamble,” The Wall Street Journal wrote, that “the Iranian regime will choose economic progress over nuclear development.” US officials cautioned that either side could walk away before a final deal, and Trump threatened to bomb Iran if they misbehaved.