WASHINGTON D.C Aug 9, 2026 – President Donald Trump said Sunday that the United States is only “semi-negotiating” with Iran and is instead relying on mounting economic pressure as Tehran continues to defy Washington.
In a brief phone interview with Axios, Trump described the approach as “low-keying it.”
“We are only semi-negotiating with them. We are just watching Iran with its huge inflation and the fact they have no money,” Trump said. He added that Iran is “in very bad shape” economically and lacks the funds to pay its troops, a situation he said has been worsened by the U.S. naval blockade.
Trump expressed confidence the situation would resolve itself. “It will work out. It always works out. It’s like a chess game,” he said.
The comments come as an agreement to reopen the Strait of Hormuz—negotiated among Iran, Oman, and the United States—remains pending. Iran recently issued a new list of demands, including an end to the U.S. blockade of its ports and the lifting of oil sanctions, before allowing shipping to resume through the vital waterway.
Trump noted that oil prices have fallen to slightly over $75 a barrel, easing pressure on American consumers even as the broader confrontation continues. He made no new threats of military action and did not express frustration over the delayed Hormuz deal.
The remarks signal a temporary preference for economic leverage over renewed combat operations, even as Iran continues to issue tough conditions and the conflict approaches the six-month mark.
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