President Donald Trump has said US gasoline prices would "drop like a rock" once the conflict with Iran is resolved, arguing that temporary increases in fuel and farm input costs are the price of preventing Tehran from obtaining a nuclear weapon.
In an interview with NBC's Meet the Press, Trump acknowledged that higher energy prices have affected American farmers but insisted the economic pain would be short-lived and justified by his administration's actions against Iran. "As soon as that's complete, gasoline prices are going to drop like a rock," Trump said when asked about concerns from farmers facing higher fuel and fertiliser costs.
The remarks come as the White House faces growing political pressure over the economic impact of the conflict with Iran, which Trump said has entered its 100th day since the first US strikes. Questioned about concerns from farmers who say they are struggling to make ends meet, Trump argued that rural America continues to support him because of his record in office.
"I love the farmers, and the farmers love me. The farmers trust me," he said. Trump pointed to assistance provided during his first term, saying: "I gave them $28 billion." The President said he had faced a choice between maintaining lower energy costs and acting against what he described as the threat posed by Iran's nuclear programme.
"I could've kept it that way. But I said, I have to take a little bit of a turn. The farmers are going to understand it better than anybody. We're going to have higher gasoline. We're going to have a little higher fertiliser, et cetera, et cetera. But I'm going to get rid of a nuclear weapon in the hands of very dangerous people," Trump said.
He repeatedly linked future declines in fuel prices to either a negotiated settlement with Tehran or the successful completion of US military objectives. Asked whether gasoline prices had already peaked, Trump replied: "They're going to come low, very low.
They're going to go lower than they were before." The President added that the timing would depend on how events unfold. "It depends where the war goes. It could be, I'll have to give them a shot, and it could be we'll sign an agreement. If we sign an agreement, it'll go down now.
Otherwise, it'll go down after we're finished," he said. Throughout the interview, Trump defended his handling of the conflict and rejected suggestions that it had undermined his long-standing pledge to avoid prolonged overseas military engagements.
He argued that US military action had significantly weakened Iran's capabilities and maintained that the campaign would not become a prolonged conflict. "We're not going to be there," Trump said when asked what made him confident the situation would not turn into a quagmire.
Trump also cited a stronger-than-expected US jobs report as evidence that the economy remained resilient despite the conflict. He described the employment figures as "really strong" and said the country was experiencing record economic performance.