Flagship newsletter icon
From Semafor Flagship
In your inbox, every weekday
Sign up

Trump ‘low-keying it’ on Iran, as he bets on economic pressure

Aug 10, 2026, 8:45am EDT
PostEmailWhatsapp
US President Donald Trump waves as he disembarks Air Force One at Joint Base Andrews, Maryland.
Elizabeth Frantz/Reuters

US President Donald Trump said he is waiting for Iran to buckle under economic pressure from the war rather than pressing for a deal, despite his own inflation concerns back home. “We are low-keying it,” Trump said in an interview with Axios. “We are just watching Iran with its huge inflation and the fact they have no money.”

Iran has been waging its own economic campaign by dictating terms for reopening the Strait of Hormuz to oil shipments, its best leverage as Trump heads into the midterm elections seeking an end to the war and lower gas prices. “The US is running out of munitions, it’s running out of options, and fundamentally, it’s running out of patience,” a security analyst told CNN.

A chart showing the estimated Patriot and THAAD interceptors remaining in US inventory.
AD