Vice President Vance acknowledged on Wednesday that the Trump administration still has “a lot of work to do” on the economy, a day after President Donald Trump faced criticism for saying he was not motivated by “the financial condition of the United States” in reaching a deal to end the war with Iran.
The war triggered a spike in energy costs, and the latest inflation report hit the highest level in three years, driven by a surge in gasoline prices.
“My message to the American people is that we know we have a lot of work to do to achieve the prosperity that the American people deserve. The president knows that very well. I know that very well. We talk about it all the time,” Vance said.
Evelyn Hockstein/Reuters – Photo: Vice President J.D. Vance holds a news conference to discuss “anti-fraud initiatives” in the Indian Treaty Room at the White House complex in Washington, DC, May 13, 2026.
As he set out for China on Tuesday, Trump said: “I don’t think about the financial well-being of Americans. I don’t think about anybody. I only think about one thing: We can’t let Iran have a nuclear weapon. That’s it.”
Trump says ‘I don’t consider Americans’ financial situation’ in Iran talks
The president’s response to whether the U.S. financial situation prompted him to strike a deal with Iran drew criticism from Democrats.
Vance said Trump’s comments were mischaracterized.
“Well, I don’t think the president said that,” he said. “I think it’s a misrepresentation of what the president said.”
Vance also said he agreed with Trump that Iran should not have nuclear weapons.
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The vice president went on to say that the president and the administration are “concerned about the economic well-being of the American people.”
Vance’s comments came after Tuesday’s inflation report showed inflation at its highest level since May 2023. While Vance said the government still has a lot of work to do on the economy, he still placed the blame on the Biden administration.
Most Americans associate economic issues with Trump, and a recent CNN poll found that 70% of Americans disapprove of the way Trump is handling the economy.
House Speaker Mike Johnson also tried to clean up after Trump’s remarks on Wednesday.
Chip Somodevilla/Getty Images – Photo: House Speaker Mike Johnson speaks during a press conference following a meeting of the House Republican Caucus at the Republican National Committee headquarters in Washington, DC, May 13, 2026
“I don’t know the context in which he made that comment, but I can tell you what the president thinks about the financial situation of Americans. I talk to him on average twice a day, sometimes three or four times a day, and we talk about it constantly,” Johnson said on Capitol Hill.
“He’s focused on resolving the Iran conflict because if we get the Strait of Hormuz — when we reopen the Strait of Hormuz, that will take pressure off gas prices and other economic aspects.”
While Republicans work to get the economy and inflation under control, Johnson acknowledged the legislation is not the only factor affecting affordability across the country and said the war with Iran “had some impact on that.”
With the national average price of a gallon of gasoline above $4.51, Johnson expressed optimism that gasoline prices will fall and inflation will stabilize once the Iran conflict is resolved, stressing that Trump is “very focused on this issue.”
