Trump says Americans' financial pain won't sway his stance on Iran nuclear deal

US President Donald Trump landed in Beijing on Wednesday for a two-day summit with Chinese President Xi Jinping after making clear, just hours before departure, that America's financial situation would not dictate his approach to the Iran war. Standing on the White House South Lawn before boarding Air Force One, Trump dismissed pressure about the economic toll of the conflict.

"I don’t think about Americans’ financial situation. I don’t think about anybody," Trump told reporters. "I think about one thing -- we cannot let Iran have a nuclear weapon. That’s all."

A reporter asked Trump how much Americans’ financial hardship was motivating him to pursue a deal with Tehran.

"Not even a little bit," Trump replied.

IRAN WAR DRIVES UP INFLATION

The blunt remarks landed as inflation surged to its highest level in nearly three years, fuel prices spiked across the US and Trump’s economic approval ratings sank deeper into negative ahead of November’s midterm elections.

The US President doubled down moments later when asked whether he was seriously ignoring the consequences of the war.

"The most important thing by far -- including whether our stock market, which, by the way, is at an all-time high -- but including whether our stock market goes up or down a little bit, the most important thing by far is Iran cannot have a nuclear weapon," Trump said. "Every American understands."

The remarks are likely to hand Democrats fresh ammunition as Republicans already face backlash over inflation and household costs.

The economic pressure has intensified since the US and Israel launched joint strikes on Iran. In response, Iran moved to block access through the Strait of Hormuz, the narrow shipping channel that handles roughly one-fifth of global oil supplies. It pushed fuel costs higher in the US and rest of the world.

According to AAA data, the national average price for regular unleaded gasoline climbed to $4.50 per gallon, while diesel prices rose to $5.64 per gallon in the US. The Bureau of Labor Statistics reported this week that April inflation surged to 3.8 percent, its highest level in nearly three years. The agency said energy prices accounted for more than 40 percent of the overall monthly increase, while food, rent and airfare costs also rose.

POLLS FLASH WARNING SIGNS FOR TRUMP

Polling released this week by CNN found that 70 per cent of Americans disapprove of Trump’s handling of the economy -- the worst number recorded for him across both of his terms in office. During his first presidency, his economic disapproval rating never crossed 50 percent. Another NBC News Decision Desk poll found that roughly two-thirds of respondents disapproved of Trump’s handling of inflation and the Iran conflict.

At the same time, nearly seven in 10 Americans told CNN they believe a recession is likely next year.

Despite those figures, Trump rules out to change his Iran policy. Before arriving in Beijing, he also dismissed that China could play a decisive role in ending the conflict.

"I don't think we need any help with Iran," he said. "We'll win it one way or the other, peacefully or otherwise."

HIGH-STAKES SUMMIT IN BEIJING

Trump’s Beijing visit marks the first trip by a sitting US president to China in nearly a decade and comes at a precarious political moment for both Washington and global markets. The President was welcomed in the Chinese capital with a carefully choreographed arrival ceremony featuring a military honour guard, a military band and hundreds of Chinese youths waving flags along the tarmac.

He landed in Beijing accompanied by a high-profile delegation of business leaders, including Elon Musk, Jensen Huang and executives linked to Apple and Boeing. The trip is expected to focus heavily on trade, artificial intelligence, critical minerals and the fallout from the Iran war.

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With inputs from agencies