U.S. President Donald Trump has stated he does not expect to need China's help to end the war in Iran and ease Tehran's grip on the Strait of Hormuz, in remarks made before he arrived in Beijing on Wednesday for a summit with President Xi Jinping. Trump told reporters in Washington before departing for China, "I don't think we need any help with Iran. We'll win it one way or the other, peacefully or otherwise."
Iran has appeared to firm up its control over the Strait of Hormuz in recent days, cutting deals with Iraq and Pakistan to ship oil and liquefied natural gas from the region, according to sources with knowledge of the matter. The waterway typically carries about one-fifth of the world's oil supply. An Iranian army spokesperson has indicated that supervision of the waterway could generate revenue amounting to twice Iran's oil income while strengthening its foreign policy leverage.
More than one month after a tenuous ceasefire took effect, U.S. and Iranian demands to end the war remain far apart. Washington has called for Tehran to scrap its nuclear program and lift its hold on the strait, while Iran has demanded compensation for war damage, an end to the U.S. blockade and a halt to fighting on all fronts, including in Lebanon, where Israel is battling Iran-backed Hezbollah. Trump has dismissed those positions as "garbage." The Trump administration stated on Tuesday that senior U.S. and Chinese officials had agreed last month that no country should be able to charge tolls on traffic through the region.
The conflict is weighing heavily on global energy markets. The International Energy Agency has reported that global oil supply will fall by around 3.9 million barrels per day across 2026 and undershoot demand due to disruptions caused by the Iran war, with more than 1 billion barrels of Middle East supply already lost. Brent crude futures have remained steady at around $108 per barrel, following a three-day rally driven by the Hormuz deadlock.
Surveys show the war is unpopular with U.S. voters less than six months before nationwide elections. A Reuters/Ipsos poll indicates that two out of three Americans, including one in three Republicans and almost all Democrats, think Trump has not clearly explained why the country has gone to war. When asked to what extent the economic strain on Americans was motivating him to strike a deal, Trump replied, "Not even a little bit," adding, "I think about one thing: We cannot let Iran have a nuclear weapon." The remarks are likely to draw scrutiny as cost-of-living concerns remain a top issue for voters ahead of November's midterm elections.
Key Takeaways:
1. U.S. President Trump stated he does not expect to need China's help to end the Iran war ahead of the Beijing summit with President Xi Jinping.
2. Iran has firmed up control over the Strait of Hormuz by cutting oil and LNG shipping deals with Iraq and Pakistan.
3. The International Energy Agency reported that global oil supply will fall by 3.9 million barrels per day across 2026 with over 1 billion barrels of Middle East supply already lost.
4. Brent crude futures have remained steady at around $108 per barrel following a three-day rally driven by the Hormuz deadlock.
5. A Reuters/Ipsos poll shows two out of three Americans believe Trump has not clearly explained why the country has gone to war.
