US President Donald Trump has signalled that he is prepared to let economic pressure on Iran intensify rather than order further military strikes, marking an apparent shift in strategy as Tehran continues to make tough demands for an agreement to reopen the Strait of Hormuz.
“We are low-keying it,” Trump said on Aug 9, according to Axios, which reported speaking to him in a brief telephone conversation.
The remarks came just a week after Trump renewed his threats to strike Iran “very hard”, before subsequently backing away as he sought to secure a deal to end the war launched by the United States and Israel on Feb 28.
According to Axios, Trump showed no apparent frustration over Iran’s delay in reaching an agreement to reopen the Strait of Hormuz.
AFP reported that Tehran demanded that Washington first end its blockade of Iranian ports and lift oil sanctions, in accordance with a memorandum of understanding signed by the two countries in June.
Iran’s closure of the strategic waterway since the outbreak of the war has driven up fuel prices and unsettled the global economy, increasing pressure on the Trump administration as the November midterm elections approach.
“We are only semi-negotiating with them. We are just watching Iran with its huge inflation and the fact they have no money,” Trump was quoted as saying.
He also pointed to falling oil prices, saying American consumers were consequently experiencing less economic pain from the conflict.
“It will work out. It always works out. It’s like a chess game,” Trump said of Washington’s dealings with Tehran. - August 10, 2026
