Trump Cites Gulf Allies in Decision to Halt Iran Strikes

Why it matters locally: While not directly affecting New York's key industries, national foreign policy decisions regarding the Middle East can influence global oil prices, which in turn affect energy costs for New York businesses and residents. Any potential for military conflict also carries broader economic implications that can ripple through national and local economies.

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President Donald Trump announced his decision to not escalate military action against Iran over the past weekend. He characterized this choice as Iran's 'last chance' to negotiate a deal. Trump stated that he called off the planned attacks because Gulf allies requested he do so. The President has previously threatened and subsequently rescinded military strikes on multiple occasions. Journalist Nick Schifrin discussed these recent developments with Dania Thafer, executive director of the Gulf International Forum.