Trump signals shift to economic pressure on Iran over new military strikes

play Live Sign upShow navigation menuNavigation menuNewsShow more news sectionsAfricaAsiaUS & CanadaLatin AmericaEuropeAsia PacificMiddle EastExplainedSportOpinionVideoMoreShow more sectionsFeaturesEconomyHuman RightsClimate CrisisInvestigationsInteractivesIn PicturesScience & TechnologyPodcastsTravelSponsored Contentplay Live Click here to searchsearchSign upNavigation menucaret-leftDonald TrumpTrump, Netanyahu and the Iran questionHow Iran war fallout may shape US electionsA visual guide to redistrictingcaret-rightEconomy|Donald TrumpTrump signals shift to economic pressure on Iran over new military strikesThe US is relying on sanctions and a naval blockade, as oil prices stabilise, easing economic strain on American consumers. xwhatsapp-strokecopylinkgoogleAdd Al Jazeera on GoogleinfoUS President Donald Trump waves goodbye after the final round of the LIV Golf New York tournament at Trump National Bedminster [Dennis Schneidler-Imagn/Reuters]By Al Jazeera StaffPublished On 10 Aug 202610 Aug 2026United States President Donald Trump has said Washington is relying on economic pressure rather than new military strikes to push Iran towards making a deal. “We are low-keying it,” Trump said in an Axios interview on Sunday, pointing to a more cautious approach after months of conflict and adding that Washington is “only semi-negotiating” with Tehran while monitoring the toll the war has taken on Iran’s economy. He said Iran is in “very bad shape” financially, citing high inflation and difficulty paying its own troops, and credited a US naval blockade in place since April with deepening that pressure. Trump also said falling oil prices, now just above $75 a barrel, have eased the economic impact on American consumers. “It will work out. It always works out. It’s like a chess game,” he said. Trump’s remarks come as talks mediated by Oman over reopening the Strait of Hormuz to shipping appear close to a breakthrough. Iran’s foreign ministry said this month that the talks had reached their “final” stages, with both sides nearing an agreement on coordinates for a new shipping route through the strait. Tehran has stressed it would not fully reopen the waterway until the US “corrects its behaviour”, which includes demands to lift the naval blockade, halt military actions and pay war damages. A ceasefire reached in June collapsed weeks later over disputes about control of the strait, and fighting resumed. Since then, Iran has continued intermittent strikes on US bases in Kuwait, Bahrain and Jordan, while Yemen’s Houthis, who are aligned with Tehran, declared a separate naval blockade against Saudi Arabia last month. Recent reporting has suggested friction between Washington and Israel over the pace of US efforts to wind down fighting on multiple fronts, including in Gaza and Lebanon. Advertisement AboutAboutShow moreAbout UsCode of EthicsTerms and ConditionsEU/EEA Regulatory NoticePrivacy PolicyCookie PolicyCookie PreferencesAccessibility StatementSitemapWork for usConnectConnectShow moreContact UsUser Accounts HelpAdvertise with usStay ConnectedNewslettersChannel FinderTV SchedulePodcastsSubmit a TipPaid Partner ContentOur ChannelsOur ChannelsShow moreAl Jazeera ArabicAl Jazeera EnglishAl Jazeera Investigative UnitAl Jazeera MubasherAl Jazeera DocumentaryAl Jazeera BalkansAJ+Our NetworkOur NetworkShow moreAl Jazeera Centre for StudiesAl Jazeera Media InstituteLearn ArabicAl Jazeera Centre for Public Liberties & Human RightsAl Jazeera ForumAl Jazeera Hotel PartnersFollow Al Jazeera English: