U.S. President Donald Trump says the United States is “only semi-negotiating” with Iran, describing Washington’s approach as watching how pressure affects Tehran rather than fully negotiating. In comments reported by Axios, he says Iran is in “very bad shape,” pointing to soaring inflation and what he calls Iran having “no money.”

Trump also claims Iran cannot afford to pay its soldiers and credits a U.S. naval blockade with worsening Iran’s financial difficulties. The reporting also notes Trump does not address costs to the United States from the conflict, including estimates in one outlet of higher fuel prices affecting Americans and military operations costing more than $100 billion. He frames the situation as a longer “chess game,” saying the U.S. is “low-keying it.”

Across the two accounts provided, both describe the same core remarks to Axios—“semi-negotiating,” Iran’s economic weakness, and the blockade’s role—while one source includes additional figures about U.S. economic and military costs and highlights that Trump does not discuss them.