On Truth Social Thursday afternoon, President Trump — who yesterday promised to “hit Iran very hard” in retaliation for downing a U.S. military helicopter — said he had cancelled the “bombings against Iran this evening.”
Trump wrote: “Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening. Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others. The Naval Blockade will remain in full force and effect until this Transaction is finalized — Time and place of the signing to be announced shortly.”
In addition to downing the helicopter, Iran has also attacked Gulf Arab neighbors Kuwait and Bahrain that host major American military bases, with the Iranian ministry justifying the attacks by saying it was fighting “the terrorist U.S. military.”
[NOTE: The New York Times quoted the Iran foreign ministry’s statement: “The continued use by the terrorist U.S. military of the territory and facilities of certain regional countries to prepare and carry out aggressive operations against Iran has placed those countries alongside the aggressors.”]
The Dow Jones Industrial Average rose sharply just after Trump’s announcement that the strikes were cancelled. “Market manipulation” was a common accusation in the comments, notable because each time Trump has delayed military escalation and signaled progress in negotiations, the markets have reacted positively, largely on hopes that the oil snag in the Strait of Hormuz can be unwound.
