Trump justifies Iran deal as a way to prevent 'economic catastrophe'

Trump justifies Iran deal as a way to prevent 'economic catastrophe' Submitted by Sean Mathews on Wed, 06/17/2026 - 19:26 US president suggests Iran will need to keep its ballistic missiles to match its neighbour's arsenals and says US will have to return frozen funds sooner or later US President Donald Trump gestures as he boards Air Force One at Geneva Airport after attending the G7 Summit in France, on 17 June 2026 (Martial Trezzini/Pool/AFP) Off President Donald Trump on Wednesday threatened to “bomb the hell” out of Iran if it does not abide by a memorandum of understanding (MOU) with the US , adding he was concerned the war could spark an “economic catastrophe” dooming his presidency. "The one president I did not want to be was the late, great, Herbert Hoover,” Trump said, noting that the stock market rose when he said he was considering ending the war and went down “very big” when he mulled continuing the conflict. "The stock market is more brilliant than anybody there is, including the people on this stage, other than me, of course,” Trump said, flanked by senior US officials including Secretary of State Marco Rubio, Secretary of Commerce Howard Lutnick and Treasury Secretary Scott Bessent.