Trump says inflation will drop when Iran conflict ends

U.S. President Donald Trump told reporters that he expects inflation to be lower by the end of the year, attributing the improvement to a sharp fall in oil prices once the conflict with Iran is resolved. He linked the anticipated decline in fuel costs directly to the de‑escalation of hostilities in the region.

Trump also announced that Israeli Prime Minister Benjamin Netanyahu’s planned visit to the White House was cancelled, saying the Israeli leader had no right to interfere with the United States’ decision on the sale of F‑35 fighter jets to Turkey and that tensions over Iran made the meeting untenable.

In a separate briefing, Trump urged the administration to extend a temporary exemption to the Jones Act that allows the domestic transport of fuel and other commodities, arguing the rule is needed because ongoing clashes at the Strait of Oman/Ormuz and renewed U.S.–Iran tensions threaten supply chains.

Finally, Trump delivered a televised accusation that China illegally obtained about 220 million U.S. voter records in the 2020 election, calling it the largest election‑data breach in history and demanding investigations by intelligence and law‑enforcement agencies.