Trump: US 'semi-negotiating' with Iran, watching pressure

President Donald Trump said the United States is only “semi-negotiating” with Iran, disclosing a deliberate strategy of observing how Tehran’s economy buckles under massive inflation and financial isolation, according to an interview with Axios published Friday.

Trump’s comments came as he departed Joint Base Andrews, Maryland, aboard Air Force One. He described Washington’s current approach as one that lets economic pressure do the talking while the regime in Tehran struggles to fund its operations and maintain public support.

A Tactical Pause, Not a Withdrawal

The president’s use of “semi-negotiating” signals a shift from the full-bore diplomacy his administration has occasionally floated toward Iran. Rather than pausing talks altogether, the phrase suggests a calibrated engagement—one that keeps a channel open without committing to a comprehensive deal.

Officials familiar with the matter say the administration wants to see if Iran’s economic strain forces a change in behavior, especially regarding its nuclear program and regional proxies. The strategy echoes the “maximum pressure” campaign that defined Trump’s earlier stance, but with an added element of measured patience.

Why Watching Matters

For Washington, the goal is to avoid concessions while Iran remains solvent enough to be a credible negotiating partner. By waiting until inflation erodes Iran’s leverage, the US hopes to extract a more favorable outcome.

But critics argue that semi-negotiating could be a misstep, allowing Iran to accelerate its nuclear work or stoke regional conflicts while the West is seen as hesitating.

Iran’s Fiscal Tailspin

Iran is currently grappling with runaway inflation, a plummeting currency, and severe shortages of hard currency. International sanctions have slashed petroleum exports and cut off much of the country from global banking—a combination that has left state coffers dwindling.

The president’s remark that Iran has “no money” reflects a reality where investments and imports have slowed sharply, and where the regime faces difficult choices between subsidizing basic goods and funding allies abroad.

Economic analysts point to a rising cost of living that has already triggered protests in several provinces. The situation is likely to worsen as winter approaches, with energy and food costs expected to spike further.

The Human Toll

Ordinary Iranians are bearing the brunt of the pressure. Households report having to cut back on essentials, while some business owners have shuttered shops for lack of demand. The regime has tried to manage the crisis with price controls and rationing, but these measures have had limited effect.

This humanitarian fallout is a double-edged sword for Washington. On one hand, it heightens pressure on Iran’s leadership to negotiate. On the other, it raises moral and diplomatic questions about using civilian suffering as a bargaining chip.

Diplomatic Signals and Stumbling Blocks

Despite the “semi-negotiating” stance, there is no indication that talks have collapsed. Intermediaries have continued to shuttle messages between Tehran and Washington, focusing narrowly on prisoner exchanges or emergency humanitarian aid. Yet, any broader engagement remains stalled over the core issues of uranium enrichment and sanctions relief.

Iran’s leadership, meanwhile, has sent mixed signals—sometimes welcoming dialogue, sometimes vowing to “resist” US pressure. The ambiguity on both sides makes a decisive breakthrough unlikely in the near term.

For the international community, the Trump administration’s position adds to a sense of uncertainty. European allies have urged a return to a more structured negotiation, while Russia and China continue to deepen economic ties with Iran, partially offsetting the impact of US sanctions.

Looking Forward

The president’s remarks suggest that the United States is settling in for a prolonged period of calibrated pressure. The question now is whether Iran’s economic woes will eventually force a shift in its calculations, or whether the country will withstand the strain and continue to develop its nuclear infrastructure under constant international scrutiny.

As the year progresses, all eyes will be on key indicators: Iran’s currency exchange rate, the rate of inflation, and any signs that internal unrest is shifting into outright instability. Meanwhile, Washington’s “semi-negotiating” posture leaves room for either a measured escalation or a sudden jump into full-fledged diplomacy—depending on which way the winds blow in Tehran.