Fears of an ‘economic catastrophe’ helped push Trump toward an Iran deal

As last week’s G7 summit in France got underway, a reporter asked Donald Trump whether his purported deal with Iran was final. “No, it’s not final,” the president replied. Later that day — during a visit to Versailles, of all places — he signed the framework anyway.

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But moments after signing his name to the memorandum of understanding, Trump offered an unsubtle hint about what he was thinking at the time. Amid applause from those around him, the American president pointed down and then up while saying, “Oil down, stocks up.”

In other words, Trump’s focus had nothing to do with natural security and everything to do with the economy. What’s more, the four-word phrase was part of a larger and underappreciated pattern. The Washington Post reported:

In the more than 100 days since President Donald Trump launched a war with Iran, he has offered a shifting list of reasons for why he started the conflict. But in explain ing his push for peace, he named a priority much closer to home: protecting the stock market.

“I didn’t want to see economic catastrophe,” Trump told reporters gathered in the Alpine spa town of Évian-les-Bains, France, after the Group of Seven summit.

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As the summit wrapped up, the Republican similarly said, “I’ve studied presidents, some good, some bad, some great. Not too many are great and some really bad. … And the one president I did not want to be was the late, great Herbert Hoover. I didn’t want that and who knows what would have happened.”

He pushed the same point in an interview with Axios, which was released over the weekend.