Trump’s War with Iran Hits $29 Billion

Brace for higher fuel prices and rising living costs; the financial toll of the United States’ war with Iran has now climbed to an estimated US$29 billion, and the bill is still climbing.

The latest figure, disclosed by Pentagon official Jay Hurst, is US$4 billion higher than the estimate provided to Congress just two weeks ago. At the same time, the US Energy Department is warning that oil prices could remain above US$100 a barrel in the coming weeks.

The economic concerns mount as negotiations between US President Donald Trump and Tehran remain deadlocked.

Trump departed today for China, where he said he plans to have a “long talk” with President Xi Jinping, CNN reported. Beijing is seen as a potential mediator between Washington and Tehran. Trump, however, played down the idea that he needs China’s help. “We’ll win it one way or another,” he said, according to CNN. “We’ll win it peacefully or otherwise.”

Meanwhile, instability across the region continues. Iranian strikes have disrupted major energy infrastructure in the Middle East while a large oil spill off Iran’s Kharg Island continues to spread.