President Donald Trump has considered himself an effective dealmaker above all else, but he appears to have hit a wall with Iran as his tough talk, threats and even military action have not moved Tehran from its long-established positions.
Iran ’s foreign minister said a lack of trust is the biggest obstacle in negotiations to end the war with the U.S., saying Friday that Tehran would be open to diplomatic help, particularly from China, to help ease tensions.
The conflict with Iran continues to drive up prices at the pump.
A ship anchored off the United Arab Emirates was seized and taken toward Iran and another — a cargo ship near Oman — sank after being attacked, authorities said Thursday, as tensions escalated near the Strait of Hormuz.
U.S. wholesale inflation came in hot last month. Producer prices rose 6% from a year earlier, the highest point in more than three years, as the Iran war pushes up energy prices and intensifies pressure on companies to pass along their rising costs to consumers.
U.S. consumer prices climbed sharply again last month as the 10-week war with Iran pushed energy prices higher.
The United States and Iran were in a deepening standoff Monday after U.S. President Donald Trump rejected Tehran’s latest offer to end the war. Officials said the proposal included some concessions on its disputed nuclear program.
U.S. forces fired on and disabled two Iranian oil tankers on Friday after exchanging fire with Iranian forces in the Strait of Hormuz overnight. The United Arab Emirates, meanwhile, reported another Iranian missile and drone attack.
Iran said it was reviewing the latest American proposals to end the war after U.S. President Donald Trump threatened the country with a new wave of bombing unless a deal is reached that includes reopening the crucial Strait of Hormuz to international shipping.
The U.S. military fired on an Iranian oil tanker Wednesday as President Donald Trump sought to pressure Tehran into reaching a deal to end the war.
