Trump played down China's role to resolve the conflict

WASHINGTON: US President Donald Trump has said 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. Speaking before departing from Washington, Trump played down the role China could have in resolving the conflict, in which both sides have blocked maritime traffic through a waterway that normally carries one-fifth of the world's oil supplies. 'I don't think we need any help with Iran. We'll win it one way or the other, peacefully or otherwise,' ⁠he told reporters.
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. Iranian officials have signalled they see that control as a long-term strategic goal. An army spokesperson said supervision of the waterway could generate revenue amounting to twice Iran's oil income, while strengthening its foreign policy leverage. 'After this war ends, there will be no place for retreat,' the spokesperson said, according to comments carried by ISNA news agency. More than one month after a tenuous ceasefire took effect, US and Iranian demands to ​end the war remain far apart.
Washington has ⁠called for Tehran to scrap its nuclear programme and lift its chokehold on the strait, while Iran has demanded compensation for war damage, ​an end to the US blockade and a halt to fighting on all fronts, including in Lebanon, where Israel is battling Hezbollah. Trump has dismissed those positions as 'garbage.'
The Trump administration said on Tuesday that senior US and Chinese officials had agreed last month that no country should be able to ​charge tolls on traffic through the region, in an effort to project consensus on the issue ahead of the summit. China, a major buyer of Iranian oil that maintains close ties with Tehran, did not dispute that account. On Wednesday, a Chinese supertanker carrying 2 million barrels of Iraqi crude was attempting to sail through the strait, ship-tracking data showed. If successful, the voyage would mark the third known passage by a Chinese oil tanker through the channel since the US and Israel launched strikes on Iran on February 28. Other countries are exploring shipping arrangements similar to Tehran's deals with Iraq and Pakistan, sources said, potentially entrenching Tehran's control of the waterway through which fertilisers, petrochemicals and other bulk commodities vital to global supply chains normally flow.

As the costs of the conflict mount, Trump said Americans' financial struggles were not a factor in his decision-making on the war. Data released on Tuesday showed that US consumer ​inflation accelerated in April, with ⁠the annual rate posting its largest gain in three years as food, rent and airfares rose. Asked to what extent the economic strain on Americans was motivating him to strike a deal, Trump replied: 'Not even a little bit.' 'I don’t think about Americans’ financial situation ...,' Trump said before leaving for China. '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.
The conflict ​is weighing heavily on global energy markets. 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, the International Energy Agency said on Wednesday, with more than 1 billion barrels of Middle East supply already lost. Brent crude futures edged up slightly to around $108 per barrel, extending a three-day rally driven by the Hormuz deadlock. Surveys show the war is unpopular with US voters less than six months before nationwide elections. 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. Iran has demanded security guarantees for Lebanon as part of its proposal to end the wider war, but despite a US-mediated ceasefire announced last month, Israel has continued to strike Hezbollah. — Reuters