Analysis: Grim new economic numbers highlight how Trump is losing leverage against Iran | CNN Politics

The week began with President Donald Trump saber-rattling like we’ve never seen before. He threatened apparent war crimes and to end a “whole civilization” if Iran didn’t meet his demands. It is ending with Trump looking like he’s losing leverage, out of ideas — and increasingly anxious for an offramp. The economic news Friday was especially grim for Trump’s ability to keep prosecuting this war and drive a hard bargain with Iran in upcoming negotiations. Let’s briefly recap: And perhaps most troubling for Trump, this could just be the beginning. As CNN’s David Goldman notes, the oil shock means inflation is likely to keep rising for months, even if the war is brought to a quick end and the Strait of Hormuz is reopened (if the war continues and the strait doesn’t open in the next several weeks, this could get much uglier). That means a gloomy economic outlook could come dangerously close to the November election, when Republicans already face an uphill battle to keep control of the House. Undoubtedly, that creates pressure on Trump to cut a deal to end the war and reopen the strait. And that reduces his leverage in Iran negotiations — a reality that’s been re