US President Donald Trump defends a memorandum of understanding (MOU) with Iran and a move to end the war on Tehran, saying his decision is intended to avoid an “economic catastrophe.” Speaking to reporters, Trump compares himself to former US President Herbert Hoover, who took office before the 1929 stock market crash and oversaw policies widely cited as worsening the Great Depression. Trump says he was “the one I didn’t want to be,” and adds that he did not want to see an economic catastrophe that could damage markets and his presidency.
Trump also links his views on the war to market reactions, claiming that the stock market rises when he signals consideration of ending the conflict and falls when he discusses continuing it. In earlier remarks, he drew criticism after saying he does not focus on Americans’ financial situation in deciding whether to end the war, and instead frames the central objective as preventing Iran from acquiring a nuclear weapon.
