Trump ignores Americans' financial hardships due to war with Iran

The US president has clearly stated that Tehran's nuclear threat outweighs any economic hardships faced by citizens, and this decision is already affecting prices around the world.

On Tuesday, May 12, 2026, Donald Trump, standing at the gate of a plane bound for Beijing, once again emphasized that the only thing that matters in negotiations with Iran is preventing Tehran from getting a nuclear weapon. He deliberately pushes all other aspects, including the financial difficulties of American families, to the background. These words were uttered against the background of new data on inflation, which in April reached 3,8 percent - the highest figure in the last three years.

Economic pressure on Americans: numbers that cannot be ignored

Official statistics from the US Department of Labor for April 2026 showed an acceleration in price increases, primarily due to the energy sector. The average price of gasoline exceeded $ 4,50 per gallon - the highest level in four years. Food prices increased by almost 4 percent, and electricity and utility rates increased by an average of 6,2 percent. Airlines have already increased ticket prices by more than 20 percent, which directly affects the travel plans of millions of families.

A University of Michigan survey found consumer confidence has fallen to its lowest level in 2022. Many respondents complain that spending on basic necessities is eating up a significant portion of their family budget. In states that traditionally support Republicans, such as Texas and Florida, local media are recording an increase in the number of applications to food banks.

Position of key administration officials

Energy Secretary Chris Wright promised in March that fuel prices would return to pre-war levels by the summer, but on Sunday, May 10, he dropped any predictions. In an April interview with CNN, he suggested that prices below $3 a gallon might not appear until next year. Chief economic adviser Kevin Gassett says relief will come “relatively quickly and right before the election,” citing the president’s personal assurances that the conflict is nearing an end.

Secretary of State Marco Rubio took a slightly different stance: he urged Americans to consider themselves “lucky” because other countries are suffering “much more.” According to him, the United States, as a net oil exporter, is partially protected from the worst consequences.

Global consequences of the conflict

Inflation is not just accelerating in the US. Australia, Canada and South Korea have all recorded monthly increases in consumer prices of 0,4-0,7 percent. In the UK, the government has warned of a new cost of living crisis, and Asian manufacturers are already passing on higher costs to their supply chains. Fuel prices in Europe have risen by an average of 18 percent since the end of February.

Analysts at the International Energy Agency note that even without a direct embargo on Iranian oil, the psychological effect on the market has already led to an increase in Brent quotes by $12 per barrel compared to pre-war levels.

Election campaign and voters' expectations

The 2026 midterm elections are increasingly centered around the issue of affordability. A Gallup poll shows that 67 percent of Americans see the economy as the country’s top problem. Trump, speaking to reporters, assured that his economic policies were “working incredibly well” and that Americans would see a “golden era” after the war ended. He recalled that inflation was 1,7 percent before the conflict began and predicted a “massive drop in oil prices” after the deal.

Experts from George Washington University believe that if fuel prices do not fall by September, it could significantly affect voter turnout in key states.

What's next: scenarios and predictions

Most analysts agree that the talks in Beijing could be a turning point. If the parties make progress on Iran's nuclear program, the market will immediately react by lowering oil prices. If the conflict drags on, gasoline prices could stabilize at $4,8-$5,2 per gallon by the end of the summer.

Trump has repeatedly said, “When the war is over, oil will be cheaper, the stock market will soar, and we will enter a truly golden era.” Only the near future will tell whether these words will come true.