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Globe/AP say Exxon sees Trump outplayed by the mullahs

2026-05-28 07:45 ET - In the News

See In the News (C-XOM) Exxon Mobil CDR (CAD Hedged)

The Globe and Mail reports in its Thursday edition that President Donald Trump asserted on Wednesday that Iran is "negotiating on fumes" and insisted November's midterm elections won't make him rush into a deal to end the three-month-old conflict. An Associated Press dispatch to The Globe quotes Mr. Trump speaking at the start of a cabinet meeting expressing confidence that a deal is near. Over the weekend, he even declared that his administration and Tehran had "largely negotiated" a settlement, though the talks are still in flux. The President is looking for a settlement that will reopen the Strait of Hormuz and provide him with a credible argument that Iran's nuclear capability has been diminished enough to declare victory, but as things stand, Mr. Trump also risks finding that closure to his war of choice comes with an unsatisfactory ending. The emerging deal puts off many critical issues to be resolved later and has already exposed the Republican President to fierce criticism that Iran's hard-line leaders will emerge from the conflict battered but emboldened. It all comes to a head just as the midterm elections come into focus and as Republicans worry that inflation is darkening the American electorate's mood.

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