President Donald Trump said he anticipated significant economic fallout before authorizing military action against Iran, but ultimately concluded the operation was necessary regardless of short-term consequences. Speaking at the National Republican Congressional Committee’s annual fundraising dinner on March 25, 2026, Trump described his expectations for rising oil prices and a potential stock market decline, while emphasizing his administration’s broader economic goals.
Trump on Iran: I thought that the oil prices would go up higher. I thought the stock market would go somewhat lower. But it didn't matter to me. pic.twitter.com/AaJgbTN9PF
— Acyn (@Acyn) March 26, 2026
During his remarks, Trump framed the decision to strike Iran as a long-delayed action that prior administrations had avoided. “I actually thought when I went on this excursion, as I call it, excursion into hell, excursion into a terrible place, when I went on to do something that for 47 years should have been done by any of the other presidents, and you heard numerous of them said they wished they did it, but they didn’t have the guts to do it. We had no choice,” Trump said. He added that he expected immediate economic disruption but viewed it as secondary to national security concerns. “I thought it was be much worse. I thought that the energy prices, oil price would go up higher. I thought the stock market would go somewhat lower. But it didn’t matter to me. Short term. What we had to do is get rid of the cancer.”
The comments come amid ongoing volatility in global energy markets, with oil prices surpassing $100 per barrel and gasoline costs rising sharply, developments that have drawn public frustration. Trump acknowledged those concerns indirectly while suggesting that the impact could have been more severe. He characterized Iran’s nuclear ambitions as an urgent threat, stating, “We had to cut out the cancer. And the cancer was Iran with a nuclear weapon. And we’ve cut it out. Now we’re going to finish it off.”
Despite the near-term economic pressures, Trump used the speech to reiterate his administration’s focus on lowering costs. He pointed to recent inflation data and argued that price stabilization efforts are already underway. “As we rebuild the greatest economy in history, a top priority must be to bring down the cost of living. And we were doing that and we are doing that at a record clip,” he said. He also criticized prior economic conditions, adding, “They had the highest prices and we’re bringing down the prices with the worst inflation which has come way down.”
Trump outlined a policy approach centered on tax cuts and deregulation as mechanisms to reduce costs. “We’re ending high prices with tax cuts, deregulation, and frankly again the words common sense,” he said, framing those measures as part of a broader recovery strategy following the Iran operation.
The remarks highlight the administration’s effort to balance the political and economic implications of military action abroad with domestic concerns about rising costs. While acknowledging that energy prices have increased significantly, Trump maintained that the long-term outcome of the operation and his economic policies would ultimately leave the country in a stronger position than before.